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Homework answers / question archive / Western New Mexico University BSAD 340 Chapter 7 1)_is the marketing of goods and services to individuals and organizations for purposes other than personal consumption

Western New Mexico University BSAD 340 Chapter 7 1)_is the marketing of goods and services to individuals and organizations for purposes other than personal consumption

Business

Western New Mexico University

BSAD 340

Chapter 7

1)_is the marketing of goods and services to individuals and organizations for purposes other than personal consumption.

a.            Secondary marketing

b.            Interactive marketing c. Business marketing

d. High-level marketing

e. Industrial marketing

 

2.            A product is defined as a business product rather than a consumer good on the basis of its: a. intended use.

b.            physical characteristics.

c.             price.

d.            distribution method.

e.            tangible attributes.

 

3.            Business marketing does NOT include goods and services that:

a.            become part of another product.

b.            are used to manufacture other products. c. are used for personal consumption.

d. facilitate the normal operations of an organization.

e. are acquired for resale.

 

4.            Which of the following is the best example of a sale that could only take place in the business market?

a.            A professor is purchasing a Mac to use at home

b.            A music store owner is ordering the newest Elvis Ultimate Live collection DVD for her mother

c.             A teen is purchasing ringtones to use on her phone

d.            A librarian is purchasing new books for the school’s library

e.            A librarian purchasing a new book for her nephew

 

 

5.            The Solar Group, a Mississippi-based mailbox manufacturer, sells mailboxes to contractors who are building mega subdivisions, to hardware stores, and directly to new homeowners. What kind of products is Solar Group selling?

a.            Business products only

b.            Both business and consumer goods

c.             Installations

d.            Consumer goods only

e.            Supplies

 

6.            According to BtoB magazine, B-to-B marketers' favorite social media tool is:

a. Facebook b. LinkedIn

c.             Twitter

d.            YouTube

e.            SnapChat

 

7.            This is important because big spenders can be the most profitable customers for a business:

a.            The conversion task

b.            The conversion rate

c.             The frequency of sales

d.            The recency of sales

e.            The monetary value of sales

 

8.                           relates to the fact that customers who have made a purchase lately are more likely to purchase again in the near future than customers who haven’t purchased for a while.

a.            External search traffic

b.            Effective reach

c.             Stickiness d. Recency

e. Effective frequency

 

9.                           is a measure of a Web site’s effectiveness and is calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewed during each visit.

a.            Effective reach

b.            Effective frequency

c.             Gross rating points

d.            Interactiveness e. Stickiness

 

10.          A cooperative agreement between business firms is called a:

a.            shared capital contract.

b.            global partner development strategy. c. strategic alliance.

d. joint contract.

e. comarketing effort.

 

 

 

11.          IBM and Cisco work together to provide banks with the products and services they need to manage their multiple locations. In other words, the two companies have joined in a:

a.            retail cooperative.

b.            direct investment venture.

c.             transactional relationship. d. strategic alliance.

e. synergistic relationship.

 

12.          Sometimes a      is created for the purpose of sharing resources. This was why the Donnelly Corporation, a company that designs, manufactures, and markets automotive parts, joined with Applied Films Laboratory, Inc. to manufacture and supply the world market with coated glass for liquid crystal displays (LCDs).

a.            shared capital contract

b.            global partner development strategy c. strategic alliance

d. cobranding effort

e. market cooperative

 

13.          Which of the following means that a firm believes an ongoing relationship with some other firm is so important that it warrants maximum efforts at maintaining it indefinitely?

a.            Amae

b.            Trust

c.             Relationship quality

d.            Strategic alliance

e.            Relationship commitment

 

14.          DHL maintains a strategic alliance with UPS because it has confidence in UPS’s reliability and integrity. This condition is referred to as:

a.            Trust.

b.            tomo.

c.             commitment.

d.            Amae.

e.            reciprocity.

 

15.          In Japan, reciprocity and personal relationships contribute to the development of:

a. global ventures. b. amae.

c.             agricola.

d.            keiretsu.

 

e.            an independent network of small retailers.

 

16.          A keiretsu is a(n):

a.            type of strategic alliance commonly found in Japan.

b.            method of business e-commerce found in Asia.

c.             Internet site that offers its customers access to various languages that they can use to conduct their business.

d.            form of relationship marketing that is illegal in the United States.

e.            Bribe.

 

17.          A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit. They achieve this goal by using purchased goods and services to make other goods, to become part of other goods, or to facilitate the daily operations of the organization. This group is called the           segment of the business market.

a.            institution

b.            reseller

c.             wholesaler d. producer

e. government

 

18.          According to the text, another commonly used name for producers is:

a.            fabricators.

b.            installers.

c.             original equipment manufacturers.

d.            product providers.

e.            component networks.

 

19.          Corn refiners buy shelled corn and convert it into a variety of products, including high-fructose corn syrup. The refiners then sell the syrup to soda and food product companies for use in foods and beverages. The corn refiners represent the   sector of the business market.

a.            channel

b.            reseller c. producer

d. government

e. distributor

 

20.          Southern Fireworks Manufacture Company in Liuyang, China, provides fireworks for companies in America such as Premier Pyrotechnics in Richland, Missouri. This means that Southern is a(n):

a.            installer of original materials.

b.            demand company.

c.             reseller.

d.            government buyer. e. OEM.

 

21.          Caterpillar, Inc., a manufacturer of earthmoving equipment, uses completed drivetrains (engines/transmissions/axles), drivetrain components, electronic controls, hydraulic and electrohydraulic components and systems, cooling systems, and undercarriage track systems produced by other organizations in its manufacturing process. Caterpillar is an example of a(n):

 

a.            fabricator.

b.            installer.

c.             original equipment manufacturer.

d.            product provider.

e.            component network.

 

 

 

 

 

22.          Businesses that buy finished goods and sell them for a profit are called:

a.            inventory carriers.

b.            producers.

c.             distribution networks. d. resellers.

e. business facilitators.

 

23.          In the past 24 years, Mothers Work has grown from a small, mail-order catalog business headquartered inside the founder’s home to the world’s largest seller of maternity apparel, with nearly 1,600 locations. In terms of the business market, Mothers Work would be best classified as a(n):

a.            reseller.

b.            producer.

c.             distribution network.

d.            inventory carrier.

e.            business facilitator.

 

24.          Hensley Poultry is a wholesaler that buys poultry food and health products from Provini, Inc., feeding systems from Big Dutchman, Inc., and incubation systems from Copca Corp. Hensley then sells those products to poultry producers and farmers’ cooperatives in Iowa. Hensley Poultry could be best classified as a(n):

a.            producer.

b.            distribution network.

c.             inventory carrier.

d.            specialty retailer. e. reseller.

 

ANSWER: e

25.          The U.S. government is:

a.            not a business market segment.

b.            the world’s largest single customer.

c.             an organization accounting for over 50 percent of the U.S. gross national product.

d.            mainly a military equipment purchaser.

e.            using one centralized purchasing office for the entire government.

 

26.          Which of the following statements about the government business market is CORRECT?

a.            Only large vendors with annual sales of more than $20 million are authorized to sell to the federal

 

government; small vendors are restricted to the state and local government market.

b.            The Office of Management and Budget is the federal agency that contracts for all the U.S. government’s buying requirements.

c.             Selling to states, counties, and cities can be less frustrating for both small and large vendors than selling to the federal government.

d.            The president of the United States must personally authorize all federal government purchases.

e.            Contracts for government purchases are rarely put out for bid.

 

 

 

 

27.          One segment of the business market has primary goals that differ from the ordinary business goals such as profit, market share, or return on investment. This segment includes many schools, churches, and civic clubs. Which business market is this?

a.            Institutions

b.            OEMs

c.             Services

d.            Providers

e.            Resellers

 

28.          Which of the following is the BEST example of an institution market?

a.            The federal government

b.            eBay

c.             Claire’s Boutique

d.            Hillsdale United Methodist Church

e.            Starbucks

 

29.          Organon Teknina sells inexpensive equipment to detect Escherichia coli, listeria, or salmonella bacteria in food. The company serves not-for-profit institutions that need to regularly check food quality. Organon Teknina would be LEAST likely to sell to:

a.            The Montgomery County school system.

b.            Cincinnati Children’s Hospital. c. Taco Bell.

d. A chain of church-sponsored retirement homes.

e. American Red Cross emergency shelter kitchens.

 

30.          Which of the following NAICS codes designates an economic subsector?

a. 33 b. 334 c. 3346

d. 33461

e. 334611

 

31.          What would a U.S. company that manufactures the lighted signs used in amusement parks, at outdoor sports arenas, for restaurant promotion, and by state departments of transportation on the sides of roads use to facilitate its market segmentation and targeting if it wanted data that were readily available and usable?

a.            A large amount of marketing research, including scanner data and focus groups

 

b.            Other competing firms as a strategic alliance referral service

c.             Government bidding processes

d.            The North American Industry Classification System

e.            Derived demand

 

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

a.            Non-American Industry Classification System.

b.            North and South American Institutional Coding Services.

c.             Non-American Industrial Corporation System.

d.            North American Institution Code System.

e.            North American Industry Classification System.

33.          Imagine that you are the research director of a major industrial marketing firm. You need to select an NAICS code that defines the most homogeneous group of companies in a particular group of highly competitive companies. Which of the following codes might you use?

a. 7432

b. 532

c. 19

d. 7

e. 999

 

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

a. large manufacturers in United States and Mexico that produce similar goods. b. the North American Free Trade Agreement partners.

c.             Brazil, Chile, Argentina, Canada, and the United States working together in a joint venture.

d.            the SIC committee.

e.            the U.S. government.

 

35.          Managers can use the NAICS data to:

a.            create a more focused mission statement.

b.            eliminate risk.

c.             classify consumer behavior.

d.            identify potential new customers.

e.            determine purchase motives.

 

36.          All of the following are demand characteristics of business markets EXCEPT:

a.            inelastic demand.

b.            fluctuating demand.

c.             joint demand. d. stable demand.

e. derived demand.

 

37.          The demand for consumer goods often affects the demand for business products. This characteristic of business markets is called            demand.

a.            elastic

b.            inelastic

c.             fluctuating

 

d.            derived

e.            joint

 

38.          Inland Eastex manufactures a heavy paper stock that is used for printing covers for many different types and sizes of consumer magazines. Consumer magazine sales determine how much paper Inland Eastex sells. This is an example of         demand.

a.            joint

b.            inelastic

c.             elastic

d.            congruent e. derived

 

 

39.          As the demand for portable CD players fell, so did the demand for blank CD-Rs because the demand for CD-Rs is an example of a(n)                demand.

a.            joint

b.            inelastic

c.             elastic

d.            fluctuating e. derived

 

40.          Bàbolina Tetra is a Hungarian company that has genetically created a chicken that is guaranteed to produce uniform brown eggs with strong shells. It breeds and sells young chicks to farmers all over Europe who want to sell eggs in local markets. When consumers began to worry about cholesterol content and stopped eating as many eggs, the demand for the Tetra hen also declined. This would be an example of            demand.

a.            derived

b.            elastic

c.             multiplying

d.            bundled

e.            inelastic

 

41.          When two or more items are used in combination to produce a final product, they are said to have

                demand.

a.            derived

b.            inelastic c. joint

d. fluctuating

e. elastic

 

42.          Apple iTunes has sold billions of downloads. Without iTunes, the demand for the Apple iPod line of products would be small. Without the musicians, there would be no iTunes. In this situation, a condition of            demand exists.

a.            bundled

b.            incremental

c.             functional

d.            developmental e. joint

 

 

43.          A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company’s production of bicycles. Decreased production in turn reduces Huffy’s demand for bicycle seats. This is because the products in this situation have   demand.

a. inelastic b. joint

c.             elastic

d.            congruent

e.            derived

 

 

 

 

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

a.            responsive

b.            elastic c. inelastic

d. derived

e. bundled

 

45.          Lanover Manufacturing supplies windshield wiper blades to General Motors and Ford. A sudden jump in the price of rubber and its substitutes has forced Lanover and other wiper blades manufacturers to double the price of the blades. This increase in price has not affected sales volume for wiper blades. The price change did not change demand for the blades because demand for this product by business customers is:

a.            inelastic.

b.            secure.

c.             bundled.

d.            elastic.

e.            resistant.

 

46.          Due to rapidly rising overhead costs and increases in raw material prices, Framarx Corporation was forced to raise the price of its waxed and coated paper by 35 percent. (The paper is used between frozen hamburger patties to keep the patties from freezing together.) Framarx is the leading manufacturer in this industry, and its competitors will follow suit. While the sales force for Framarx believes the price increase will result in a drop in sales, its marketing manager disagrees because the demand for the waxed and coated paper is more than likely:

a. resistant. b. inelastic.

c.             derived.

d.            elastic.

e.            bundled.

 

47.          Salt is an important ingredient in many soups produced by Campbell’s. If the price of salt rises, Campbell’s will not likely reduce the amount of salt it purchases from salt suppliers, because salt is such a crucial ingredient. Therefore, you know the demand for salt is:

a.            resistant.

 

b.            inelastic.

c.             derived.

d.            elastic.

e.            bundled.

 

48.          Although the price of a chemical added to paint to protect surfaces from mold and mildew has almost doubled, the price of paint has risen an average of only 5 percent, and the demand for both paint and the chemical that eliminates mold and mildew has remained stable. The demand for this chemical is:

a.            elastic.

b.            derived.

c.             bundled. d. inelastic.

e. change resistant.

49.          As a result of the              , a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to manufacture the consumer product.

a.            demand fluctuation principle

b.            joint demand principle or division effect

c.             inelastic demand effect d. multiplier effect

e. derived force effect

 

50.          Electric cars will increase the demand for electricity, which will then dramatically increase demand for the equipment needed to provide consumers with the electricity. This dramatic increase is due to the:

a.            demand fluctuator principle.

b.            joint demand principle or division effect.

c.             inelastic demand effect.

d.            circumlocution effect. e. accelerator principle.

 

51.          Jif is the best-selling brand of peanut butter in the country. The manufacturer purchases large quantities of peanuts every year to manufacturer its product. This order size is an example of               and would give Jif an advantage over other buyers of peanuts.

a.            purchase volume

b.            joint demand

c.             fluctuating demand

d.            sales volume

e.            multiplier effect

 

52.          Buyers in the business market tend to   than buyers in the consumer market.

a.            use reciprocity less

b.            purchase in much smaller quantities

c.             buy more products that have a reduced probability of being affected by derived demand

d.            generate more stable demand trends

e.            be much more geographically concentrated

 

53.          Kaplan Construction needs a backhoe for a job, so Donna Kaplan decides to lease the equipment from Premier Leasing Services. In this case:

a.            Kaplan is the licensee.

b.            Premier is the lessee.

c.             Kaplan is the licensor. d. Premier is the lessor.

e. Kaplan is the lessor.

 

54.          The distribution structure in business marketing typically:

a. includes at least one wholesaler. b. is direct.

c.             is complex and multistage.

d.            uses a three-step channel.

e.            uses retail distributors.

 

55.                         is commonplace in business marketing and can sometimes occur over several months. a. Negotiation

b.            Need mediation

c.             Customerization

d.            Purchase arbitration

e.            Trust

 

56.          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:

a.            working to create purchase arbitration.

b.            opening itself up to prosecution for illegal activities.

c.             acting unethically.

d.            trying to eliminate derived demand barriers. e. practicing reciprocity.

 

57.          General Motors buys engines for use in its vehicles from BorgWarner, which in turn buys many of the vehicles it needs from GM. This is an example of:

a.            nested demand.

b.            derived demand. c. reciprocity.

d. elastic demand.

e. circular buying.

 

58.                         occurs when a deli decides to buy its office supplies from a company that regularly buys sandwiches for its employees.

a.            Reciprocity

b.            Joint demand

c.             Elastic demand

d.            Derived demand

e.            Bidding conformity

 

59.          Which of the following statements does NOT describe the business market?

 

a.            Business buying decisions are usually made independently by a purchasing agent, while consumer buying decisions are made jointly.

b.            Business customers tend to be more geographically concentrated, and customers in consumer markets tend to be more geographically dispersed.

c.             The channel of distribution is more often direct for business markets than for consumer markets.

d.            Purchasing by businesses is a more formal process than it is in consumer markets.

e.            Business marketers tend to have far fewer customers than consumer marketers.

 

60.                         is the primary promotional method for the sale of all business products.

a.            Direct mail

b.            Advertising

c.             Personal selling

d.            Public relations

e.            Trade promotions

 

 

 

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