Nova Southeastern University

MKT 5070

1)In which of the following is a person performing the role of an approver?

1. 1. Dan decides on the product requirements and makes the final choice of suppliers.
   2. Luke has the authority to pick out the supplier and negotiate the terms of purchase.
   3. Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives.
   4. LKG gets many calls from potential suppliers, and it is Leah's job to weed out the good prospects and refer them to others in LKG.
   5. Dana authorizes the actions of the deciders and buyers in LKG.

2. In which of the following is a person performing the role of a gatekeeper?
   1. Dan decides on the product requirements and makes the final choice of suppliers.
   2. Luke has the authority to pick out the supplier and negotiate the terms of purchase.
   3. Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives.
   4. LKG gets many calls from potential suppliers, and it is Leah's job to weed out the good prospects and refer them to others in LKG.
   5. Dana authorizes the actions of the deciders and buyers in LKG.

3. Which of the following is true about the buying centre?
   1. In a buying centre, one person cannot play more than one role.
   2. A typical buying centre has a maximum of five or six members.
   3. A buying centre consists of only mid-level managers and below.
   4. It is the decision-making unit of a buying organization.
   5. Gatekeepers in a buying centre are people who authorize the proposed actions of deciders or buyers.

4. Small sellers should first concentrate their marketing efforts on reaching                               .
   1. approvers
   2. initiators
   3. influencers
   4. users
   5. initiators Answer:   C

5. If you were an upper-level marketing executive of a large seller of trucks, which of the following strategies would be most appropriate in reaching buying center targets?
   1. Concentrate on key buying influencers.
   2. Use multilevel in-depth selling.
   3. Use trade-based promotions.
   4. Concentrate sales efforts on the support staff.
   5. Move all operations to the Internet.

6. Patrick J. Robinson and his associates have identified eight stages in the business buying-decision process. This model is called the                                                                                  framework.
   1. buygrid
   2. buying/selling
   3. seller-centered
   4. commercial
   5. buy-analysis  

7. According to Patrick J. Robinson, the eight stages in the business buying-decision process are known as       .
   1. buyphases
   2. buybacks
   3. buyouts
   4. buyables
   5. buyoffs  

8. Which of the following is a step in the straight rebuy buyclass?
   1. problem recognition
   2. general need description
   3. product specification
   4. supplier search
   5. proposal solicitation

9. A new-task buyclass decision begins with which of the following steps?
   1. supplier search
   2. general need description
   3. product specification
   4. problem recognition
   5. proposal solicitation

10. In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the                                                                      stage.
    1. problem recognition
    2. general need description
    3. order-routine specification
    4. supplier search
    5. performance review

11. The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as      .
    1. maintenance, repair, and operating (MRO)
    2. product value analysis (PVA)
    3. vendor managed inventories (VMI)
    4. supplier performance management (SPM)
    5. supplier added value effort (SAVE)

12. Business buyers may get new ideas at a trade show, see an ad, or receive a call from a sales representative who offers a better product or a lower price compared to the current in-supplier. These situations spur the        stage.
    1. problem recognition
    2. general need description
    3. order-routine specification
    4. supplier search
    5. performance review

13. Business marketers can stimulate problem recognition by                             .
    1. ensuring a presence in trade directories
    2. direct mail, telemarketing, and calling on prospects
    3. encouraging the Better Business Bureau to release statistics
    4. using consumer advertising
    5. conducting surveys of existing customers

14. With respect to e-procurement, Coca-Cola, Sara Lee, Kraft, PepsiCo, P&G, and several other companies joined forces to form a                                                                               called Transora to use their combined leverage to obtain lower prices for raw materials.
    1. manufacturer's co-op
    2. supplier's co-op
    3. middleman group
    4. buying alliance
    5. buying cabal  

15. Plastics.com allows plastics buyers to search the best prices among thousands of plastics sellers. Plastics.com is an example of a(n)                                                             .
    1. buying alliance
    2. barter market
    3. systems seller
    4. vertical market
    5. auction site  

16. On an online                         , prices change by the minute.
    1. buying alliance
    2. barter market
    3. systems seller
    4. spot market
    5. catalog site

17. With respect to e-procurement, which of the two types of e-hubs are Web sites organized around?
    1. vertical and horizontal hubs
    2. vertical and functional hubs
    3. functional hubs and organizational hubs
    4. supplier and user hubs
    5. manufacturer and supplier hubs

18. Praxair Limited is a supplier of synthetic graphite to a number of electrode manufacturers in the U.S. Its customers have shifted their ordering responsibilities to Praxair and the company regularly monitors its customer's inventory levels and has taken responsibility for replenishing the supplies automatically through continuous replenishment programs. Which of the following systems do Praxair and its customers follow with respect to order-routine specification?
    1. Supplier Added Value Effort ($AVE)
    2. Vendor Managed Inventory (VMI)
    3. Direct Concentrated Buying (DCB)
    4. Supplier Performance Management (SPM)
    5. Product Value Analysis (PVA)

19. Which of the following methods is most likely to be used by buyers to review the performance of chosen suppliers?
    1. the buyer may contact different suppliers and ask for their evaluations
    2. the buyers may rate the end-users on several criteria using a weighted-score method
    3. the buyer might aggregate the cost of poor performance to come up with adjusted costs of purchase, including price
    4. the buyers may aggregate the opinions of various competitors and come up with the adjusted cost of supply
    5. the buyers might adopt the Supplier Added Value Effort technique to calculate supplier efficiency

20. A                         establishes a long-term relationship in which the supplier promises to resupply the buyer as needed, at agreed-upon prices, over a specified period of time.
    1. stockless purchase plan
    2. direct stock purchase plan
    3. defined contribution plan
    4. stock purchase plan
    5. share purchase plan

21. In the                        category of buyer-supplier relationships, competition rather than cooperation is the dominant form of governance.
    1. basic buying and selling
    2. bare bones
    3. contractual transaction
    4. customer supply
    5. collaborative  

22. Which of the following relationships is characterized by much trust and commitment leading to a true partnership?
    1. mutually adaptive
    2. collaborative
    3. basic buying and selling
    4. customer supply
    5. cooperative systems