question

The three purposes for which individuals or groups can use products in order for it to be considered a business market are a) use in daily operations, end consumption, and resale. b) direct use in producing other products, company travel, and end consumption. c) resale, use in daily operations, and direct use in producing other products. d) governmental, institutional, and reseller purposes. e) making other products, selling to other businesses, making component parts.

answer

c

question

In business markets, individuals or groups purchase products for one of three purposes. These purposes are a) resale, wholesale, and direct use. b) wholesale, direct use, and use in producing other products. c) resale, wholesale, and use in producing other products. d) resale, direct use in producing other products, and use in general daily operations. e) use in general daily operations, wholesale, and resale.

answer

d

question

Business markets are typically divided into four categories. These categories are a) retailers, wholesalers, services, and nonprofit firms. b) producer, manufacturer, reseller, and government. c) producer, reseller, government, and institutional. d) manufacturer, wholesaler, retailer, and services. e) reseller, retailer, government, and institutional.

answer

c

question

Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ___________ markets a) consumer b) institutional c) producer d) government e) reseller

answer

c

question

**An accountant who purchases software for maintaining clients' books is an example of a buyer in a(n) ___________ market. a) consumer b) producer c) reseller d) government e) institutional

answer

b

question

Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ___________ markets. a) consumer b) institutional c) producer d) government e) reseller

answer

e

question

Mike's Roadside Market buys produce from area farmers, marks the merchandise at a price that includes some profit, and then sells the fruit and vegetables to the people in and around Centerville. Mike's would be classified as part of a ___________ market. a) consumer b) producer c) government d) reseller e) wholesaler

answer

d

question

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market? a) Reseller b) Producer c) Consumer d) Government e) Supply

answer

a

question

Retailers like Target and Kmart are considered to be members of which business market? a) Reseller b) Customer c) Producer d) Institutional e) Services

answer

a

question

Kroger Grocery Store is an example of a reseller. Which of the following factors concerning reseller purchase decisions is false? a) Resellers are concerned with the level of demand for the product. b) Resellers are not concerned with how much space the product takes up as long as it has a high price. c) Resellers want producers to be able to supply adequate quantities of the product. d) Resellers are concerned with the availability of technical and promotional assistance from the producer. e) Resellers are concerned with the markup percentage they can get on the product.

answer

b

question

***Which type of business market tends to have the most complex buying procedures? a) Reseller b) Producer c) Consumer d) Government e) Supply

answer

d

question

The recently created Department of Homeland Defense is a member of the _____ market. a) Reseller b) Producer c) Consumer d) Government e) Supply

answer

d

question

About what percentage of the annual U.S. gross domestic product is government spending? a. 30% b. 10% c. 20% d. 50%

answer

c

question

Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This means it is part of a(n) ___________ market. a) Reseller b) Customer c) Producer d) Institutional e) Services

answer

d

question

Churches, charitable organizations, and private colleges are considered _____ buyers. a) Reseller b) Customer c) Producer d) Institutional e) Services

answer

d

question

Institutional markets are A. Discourages lenders from making loans B. Occurs after the transaction C. A borrower engaging in risky activity with loan funds. D. organizations that seek nonbusiness goals.

answer

D

question

A Pillsbury mill in Utah buys grain from growers in the western region. The purchasing agent for Pillsbury will most likely use which buying method? A)Description B)Inspection C)Sampling D)Negotiation E)Selection

answer

c

question

Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics? A)Description B)Inspection C)Sampling D)Negotiation E)Selection

answer

a

question

If a business owner buys parts by specifying the quantity, grade, and other attributes, whichbuying method is he or she using? A)Description B)Inspection C)Sampling D)Negotiation E)Selection

answer

a

question

Which method of business buying is necessary when products are highly homogeneous and examination of each item is not feasible? A)Description B)Inspection C)Sampling D)Negotiation E)Selection

answer

c

question

St. Jude's Hospital decides to redo its kitchen with new flooring, cabinets, counters, and appliances. The hospital compiles a description of the project and then asks sellers to submit bids. After determining the most attractive bids, the hospital will then work with two or three companies to determine who will get the contract. This is an example of using ______ for a purchase decision. A)Description B)Inspection C)Sampling D)Negotiation E)Selection

answer

d

question

Natalie Simopoulos, director of procurement at Grecian Glass Company must approve every purchase order, and Anthony Markatos, purchasing manager, must authorize any sales rep who wants to talk to a Grecian Glass employee. Natalie and Anthony are acting as _____ and _____, respectively. A. decider and gatekeeper B. influencer and user C. gatekeeper and influencer D. buyer and decider E. user and gatekeeper

answer

a

question

**Often the most difficult step in the marketing research process is: A. analyzing the situation. B. defining the problem. C. getting problem-specific data. D. interpreting the data. E. All of the above.

answer

b

question

Which of the following statements concerning secondary data is correct? A. Secondary data usually takes longer to obtain than primary data. B. Secondary data is only available within the firm. C. Secondary data was originally collected for some other purpose. D. All of the above are correct. E. None of the above are correct.

answer

c

question

Which of the following statements about secondary data is correct? A. Secondary data is obtained only from sources outside of the firm. B. Secondary data may be available much faster than primary data. C. Results of "old" surveys are not secondary data. D. Secondary data is usually more expensive to obtain than primary data. E. All of the above are true.

answer

b

question

**Demand for business products is also known as ______ demand. a) Reseller b) Customer c) Producer d) Industrial e) Services

answer

d

question

Marketing research: A) is only needed by producers who have long channels of distribution. B) should be planned by research specialists who understand research techniques better than marketing managers. C) is needed to keep isolated marketing managers in touch with their markets. D) consists mainly of survey design and statistical techniques. E) All of the above.

answer

c

question

With the globalization of markets, the tastes and preferences of consumers world-wide are: A. becoming similar to the tastes and preferences of American consumers. B. so different that they can be ignored by international organizations. C. converging upon a global norm. D.being encouraged by multinational organizations to become increasingly similar.

answer

C

question

The main advantage of a differentiation strategy in international markets lies in that: A.imitators cannot reduce margins. B.the focus is taken away from price. C.it enables brand stretching and extension. D.consumers in foreign markets pay less for the same product.

answer

B

question

The goals of international marketing are to: A.eliminate competition in international markets. B.create and retain customers in global markets. C.gain market share and increase profit. D.expand business activities abroad.

answer

B

question

Being a global organization means: A.creating standardized products for homogeneous markets. B.customizing the product range for each segment in part. C.creating both standardized and customized products. D.any of the above.

answer

C

question

Which of the following represents a company's effort to identify and categorize groups of customers and countries according to common characteristics? A.Global targeting. B.Global positioning. C.Global market segmentation. D.Global marketing research.

answer

C

question

A global market leader is an organization which: A.has more than 50% global market share. B.has the monopoly over several foreign markets. C.is recognized as being ahead of the rest in terms of market share. D.is ahead of the competition in terms of global innovation.

answer

C

question

The main aim of global marketing is to: A.satisfy global customers better than competition. B.coordinate the marketing activities within the constraints of the global environment. C.find global customers. D.achieve all of the above.

answer

D

question

Key controllable factors in global marketing are: A.government policy and legislation. B.marketing activities and plans. C.social and technical changes. D.all of the above.

answer

B

question

When following the five-step marketing research approach, developing the research plan is the__________ step. A) first B) second C) third D) fourth E) fifth

answer

b

question

Which of the following is NOT part of the five step marketing research process discussed in the text? A) defining the problem B) solving the problem C) analyzing the situation D) interpreting the data E) developing the marketing information system

answer

e

question

Inflation is a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year. True or False

answer

true

question

An economic recession increases demand for products and services. True or False

answer

false

question

A(n) _____ is a defined group that managers feel is most likely to buy a firm's product. a. target market b. buying center c. aggregated unit d. consumer cluster e. demographic sample

answer

a

question

All of the following are factors in the external environment affecting marketing EXCEPT: a. the marketing mix b. economic conditions c. technology d. politcial and legal factors e. the competition

answer

a

question

Marketing managers cannot control _____, but they can sometimes influence it. a. where advertising is placed b. the external enviroment c. the sales force d. the distribution strategy e. product pricing

answer

b

question

The study of people's vital statistics, such as age, race and ethnicity, and location, is called: a. cultural sociology b. psychometrics c. ecology d. ethnography e. demography

answer

e

question

Which of the following is NOT a demographic characteristic of a population? a. income level b. age c. values d. education e. birthrate

answer

c

question

Refer to Dog Spa. The uncontrollable environmental factors Tumlin faces in terms of zoning restrictions for the new dog salon represent _____ factors. a. economic b. political and legal c. research and development d. culural

answer

b

question

1. New product development essential due to a. Changing customer needs and wants b. Evolving of new technologies c. Both a and b d. None of the above

answer

c

question

The greatest challenges to e-marketing opportunities lie in ________. a. countries with emerging economies b. countries with developed economies c. countries in Asia d. countries in South America

answer

a

question

E-commerce is emerging markets is often hampered, or hindered, by ________. a. limited use and acceptance of credit cards b. types of products purchased online c. clear definition of market segments willing to shop online d. all of the above

answer

a

question

With the explosive growth and diffusion of ________ the face of e-marketing has changed quite dramatically throughout the world. a. electricity sources b. mobile/cellular phones c. language translators d. internet cafes

answer

b

question

According to the text, _____ percent of US consumers use the internet. 50 60 76 90

answer

76

question

Using the Internet for marketing research to find out customers needs and wants is an example of: A. identifying customer requirements. B. satisfying customer requirements. C. anticipating customer requirements. D. none of the above.

answer

A

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