MKT 230 CH 8 Quiz – Flashcards
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The three purposes for which individuals or groups can use products in order for it to be considered a business market are
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resale, use in daily operations, and direct use in producing other products,
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Business markets are typically divided into four categories. The categories are
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producer, reseller, government, and institutional
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What is a primary difference between business and consumer buyers
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business buyers generally make larger orders than consumer buyers
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Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects periodically. This practice is an example of
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reciprocity
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Which of the following statements about business buying is false
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orders in business markets tend to be smaller than those placed in consumer markets
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Volkswagen purchases upholstery for the interior of its vehicles from various suppliers. This upholstery must have a set of characteristics that is expressed by Volkswagen. This set is called
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specifications
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Demand for business products is also known as _______ demand
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industrial
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Inelastic demands simply means that
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a prices increase or decrease will not significantly change the demand for an item
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The group of people within a business who are involved in making business buying decisions is referred to as
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the buying center
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Which of the following countries will not be included in the data presented in the new industry classification system that is replacing the SIC
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Japan
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Safeway supermarkets recently placed an order with the Kahn Corporation for hotdogs. The typical weekly order is for 10 cases; however, since the upcoming weekend includes a holiday, this time safeway is ordering 100 cases of hotdogs. Safeway order this product on a regular basis. What type of purchase does this week's purchase represent
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modified rebuy
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The United States Navy purchases uniforms from a single supplier. For the last twenty five years, the trousers purchased from this supplier have not changed and have been bought every six months, in seven different sizes. This example is called a
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straight rebuy
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Which of the following products is most likely to be purchased on the basis of contract negotiations
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a custom made bulldozer
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Product specifications are best described as
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physical characteristics and level of quality
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Demand for a business product is ________ when two or more items are used in combination to produce a product
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joint
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Barry Gluckman of WP international, a major marketer of word processing software, calls the secretary of Renee Dorchette, director of purchasing for MMK, Inc. He sets up an appointment to discuss and upcoming purchase of software. The secretary plays the role of _____ in this purchase decision
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gatekeeper
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An organization that decides to buy all of a certain part from the same company is using
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sole sourcing
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Compared with consumer goods, marketers aiming at business customers
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have an enormous amount of information available concerning potential customers
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During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ______ analysis to examine the quality, design, materials, and possible item reduction in order to acquire the product in the most cost effective way.
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value
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Individua influencing factors refer to
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personal characteristics of individuals in the buying center
