question

Which of the following is not an example of business marketing?

answer

selling residential cable TV Package

question

The main difference between a business product and a consumer product is: The main difference between a business product and a consumer product is:

answer

intended use

question

According to the ________ concept, customers who have not bought a certain product in quite some time are unlikely to do so in the future.

answer

recency

question

Which of the following is NOT an example of a type of strategic alliance?

answer

corporate takeover

question

Two web-design firms recently merged, in spite of the fact that managers in both firms had doubts about the importance and benefits of the merger. This relationship lacks:

answer

relationship commitment

question

Which of the following is an example of a producer?

answer

home builder

question

Which of the following is NOT an example of a reseller?

answer

community college

question

The demand that IKEA has for lumber depends on consumer demand for its furniture products. This is an example of:

answer

derived demand

question

In many cases, an increase in the price of a business product will cause consumer demand to:

answer

be unaffected

question

The consumer demand for HDMI cables is directly related to consumer demand for HD TVs. This is an example of:

answer

joint demand

question

A law firm buys its paper and office supplies from a Company X, which in turn hires the law firm to provide legal counsel. This is an example of:

answer

reciprocity

question

Sugar, leather and iron ore are all examples of:

answer

raw materials

question

Hard drives, processors, and USB ports are all examples of:

answer

component parts

question

An accounting firm purchases an entirely new telephone system to replace its current outdated system. This is an example of which buying situation?

answer

new buy

question

A middle manager in the human resources division is assigned to make recommendations on which software package the firm should buy. This role is known as:

answer

influencer/evaluator

question

Which of the following is the BEST example of accessory equipment?

answer

a store sales rack

question

Buyers in the business market tend to _____ than buyers in the consumer market

answer

be more geographically concentrated

question

The government uses a system called NAICS to classify North American business establishments. NAICS stands for

answer

North American Industry Classification System

question

The buying center:

answer

refers to all those organizational members who become involved in the purchasing process

question

All of the following are current roles of the Internet in business marketing EXCEPT:

answer

Eliminate distributors

question

NAICS data are helpful for analyzing, segmenting, and targeting markets. The system was developed by:

answer

NAFTA Partners. (US Canada Mexico)

question

Finished items ready for assembly or products that need very little processing before they become a part of some other product are called:

answer

Component Parts

question

Which of the following is becoming increasingly more important in business marketing strategies?

answer

Customer service

question

Products that have had some processing, are used directly in the production of other products, and do not retain their identity in the final product are called:

answer

Processed Materials

question

Business marketing does NOT include goods and services that:

answer

are used for personal consumption

question

The elimination of intermediaries such as wholesalers or distributors from a marketing channel is referred to as:

answer

Disintermediation

question

Which type of business product includes such capital goods as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings?

answer

major equipment

question

Finished items ready for assembly or products that need very little processing before they become a part of some other product are called:

answer

component parts

question

A new buy situation refers to the

answer

purchase of a product or service when a new demand arise

question

When demand for a product is _____, an increase or decrease in the price of the product will not significantly affect demand for the product.

answer

Inelastic

question

Which type of business product represents goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment?

answer

Accessory equipment

question

Business buyers use a variety of criteria to evaluate alternative products and suppliers. The three most important criteria, in order of importance, are

answer

Quality, Service, Price

question

A routine purchasing situation in which the purchaser is not looking for new information or other suppliers is called a:

answer

straight rebuy

question

If a business needs a particular good or service and decides to look among its own customers for a provider of that good or service, the business is:

answer

practicing reciprocity

question

In terms of how business buyers evaluate products and suppliers, the most important criterion is:

answer

Quality

question

____ ____ is the marketing of goods and services to individuals and organizations for purposes other than personal consumption.

answer

business marketing

question

___ is a measure of a website's efficiency; calculated by multiplying the frequency of visits by the duration of a visit by the number of pages viewed during each visit.

answer

stickiness

question

____ means eliminating intermediaries such as wholesalers or distributors from a marketing

answer

disintermediation

question

___ is the reintroduction of an intermediary between producers and users.

answer

reintermediation

question

A ___ ___ , sometimes called a strategic partnership, is a cooperative agreement between business firms

answer

strategic alliance

question

4 major categories of consumers:

answer

producers, resellers, governments, and institutions.

question

Relationships between companies can develop into ___- a of interlocking corporate affiliate

answer

keiretsu

question

_____ is an industry classification system introduced in 1997 to replace the standard industrial classification system (SIC)

answer

NAICS (North American Industry Classification System)

question

what are some differences b/t business markets and consumer markets

answer

demand, # of customers, purchase volume, location

question

The demand for business products is called ___ because organizations buy products to be used in producing their customers' products

answer

derived demand

question

____ means that an increase or decrease in the price of the product will not significantly affect demand for the product

answer

Inelastic demand

question

____ occurs when two or more items are used together in a final product

answer

Joint demand

question

Types of business products

answer

major equipment, accessory equipment, raw materials, component parts, processed materials, supplies, and business services.

question

____ includes capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings. depreciates over time

answer

Major equipment

question

_____ is generally less expensive and shorter-lived than major equipment. Examples include portable drills, power tools, microcomputers, and fax machines.

answer

Accessory equipment

question

_____ are unprocessed extractive or agricultural products—for example, mineral ore, lumber, wheat, corn, fruits, vegetables, and fish.

answer

Raw materials

question

_____ are either finished items ready for assembly or products that need very little processing before becoming part of some other product. Examples are: spark plugs, tires, and electric motors for automobiles

answer

Component parts

question

____ can retain their identity after becoming part of the final product

answer

component parts

question

____ are products used directly in manufacturing other products. Examples include: sheet metal, chemicals, specialty steel, treated lumber, corn syrup, and plastic. Do NOT retain their identity in final products

answer

Processed materials

question

___ are consumable items that do not become part of the final product—for example, lubricants, detergents, paper towels, pencils, and paper

answer

Supplies

question

three categories of supplies are:

answer

maintenance, repair, or operating supplies (MRO)

question

_______ are expense items that do not become part of a final product. Businesses often retain outside providers to perform janitorial, advertising, legal, management consulting, marketing research, maintenance, and other services

answer

Business services

question

A _____ includes all those people in an organization who become involved in the purchase decision. Membership and influence vary from company to company. For instance

answer

buying center

question

A _____ is a situation requiring the purchase of a product for the first time

answer

new buy

question

A _____ is normally less critical and less time-consuming than a new buy.

answer

modified rebuy

question

A _____ is a situation vendors prefer. The purchaser is not looking for new information or other suppliers

answer

straight rebuy

question

One common instrument used in straight rebuy situations is the _____

answer

purchasing contract

MKTG 7 – Flashcard

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards