Question 1

In an e-marketplace,an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a

Accepted Answer

A)  vertical auction.
B)  reverse auction.
C)  horizontal auction.
D)  traditional auction.
E)  reciprocal auction.F) A) and E)
G) A) and C)

Question 2

List four common organizational buying criteria.

Accepted Answer

Key organizational buying criteria inclu...

Question 3

Describe the three types of organizational markets and give examples of each.

Accepted Answer

There are three types of organizational ...

Question 4

The North American Industry Classification System (NAICS) system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The third digit designates a(n)

Accepted Answer

A)  industry subsector.
B)  industry group.
C)  specific industry.
D)  individual country-level national industry.
E)  sector of the economy.F) B) and C)
G) A) and E)

Question 5

The services market sells diverse services such as legal advice,auto repair,and dry cleaning; along with finance,insurance,and real estate businesses,and transportation,__________ and public utility firms,and not-for-profit organizations,these firms represent about 75 percent of all industrial firms.

Accepted Answer

A)  wholesaling
B)  retailing
C)  government units
D)  communication
E)  manufacturingF) A) and B)
G) A) and C)

Question 6

Once an organization passes through the problem recognition stage of the organizational buying decision process,it reaches the __________ stage.

Accepted Answer

A)  information search
B)  value analysis
C)  alternative evaluation
D)  purchase decision
E)  behavioral learningF) A) and B)
G) A) and E)

Question 7

All of the following statements about the size of the purchase involved in organizational buying EXCEPT:

Accepted Answer

A)  the length of time required to arrive at a purchase agreement can vary.
B)  the dollar value of a single purchase made by an organization often runs into thousands or millions of dollars.
C)  it impacts who participates in the purchase decision.
D)  it impacts who makes the final decision.
E)  The size of the purchase involved in organizational buying is occasionally is much larger than that in consumer buying.F) A) and B)
G) B) and D)

Question 8

Federal,state,and local agencies that buy products and services for the constituents they serve are referred to as

Accepted Answer

A)  industrial markets.
B)  reseller markets.
C)  consumer markets.
D)  government units.
E)  global markets.F) C) and E)
G) A) and B)

Question 9

Online buying in organizational markets is prominent because Internet technology

Accepted Answer

A)  allows companies to increase their innovation cycles.
B)  can convey timely information quickly.
C)  substantially increases brand loyalty.
D)  narrows the potential customer base for many products.
E)  totally eliminates marketing costs.F) A) and D)
G) B) and E)

Question 10

Itex Corporation,a marketer of Photostat products used in the graphic arts field,buys photo sensitized paper from Eastman Kodak Company,packages it with the Photostat brand name,and sells it directly to amateur photographers.In this context,Itex Corporation is most accurately classified as a

Accepted Answer

A)  manufacturer.
B)  reseller.
C)  service provider.
D)  wholesaler.
E)  industrial firm.F) C) and D)
G) None of the above

Question 11

There are seven commonly used organizational buying criteria.One of them is __________.

Accepted Answer

A)  production facilities and capacity
B)  consumer demand
C)  flexibility
D)  adherence to government policies
E)  senior management directivesF) A) and B)
G) C) and D)

Question 12

A computer company salesperson invites the IT managers of its top ten customers (in terms of dollar sales) to view a demonstration of the firm's new product line,so the salesperson can obtain their opinions regarding various options and configurations that could be offered.These IT managers are most likely to be the __________ of their organizations' buying centers.

Accepted Answer

A)  gatekeepers
B)  influencers
C)  reciprocity arrangers
D)  buyers
E)  usersF) C) and D)
G) B) and C)

Question 13

A buying center refers to

Accepted Answer

A)  an online trading community that brings together buyers and supplier organizations to make possible the real time exchange of information,money,products,and services.
B)  the department within a firm responsible for the logistics of placing,tracking,and delivering orders to other departments within the firm.
C)  the department within a firm responsible for the logistics of placing,tracking,and delivering orders to ultimate consumers.
D)  the group of people within an organization who participate in the buying process and share common goals,risks,and knowledge important to a purchase decision.
E)  the department within a firm that allows purchases to be made from a centralized location from multiple vendors at the same time.F) All of the above
G) C) and E)

Question 14

Airbus manufactures commercial aircraft that it sells to a variety of airlines worldwide.Still,demand for its products often depends on rates of air travel among consumers.Demand for Airbus products is referred to as __________ demand.

Accepted Answer

A)  unitized
B)  derived
C)  reseller
D)  applied
E)  impliedF) A) and B)
G) A) and C)

Question 15

Organizational buying behavior refers to

Accepted Answer

A)  the actions a person takes in purchasing and using products and services,including the mental and social processes that come before and after these actions.
B)  the decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers.
C)  the determination of what to purchase and the quantity to purchase based upon derived demand.
D)  the determination of what to purchase and the quantity to purchase based upon the derived demand in the industry.
E)  the process that organizations use to purchase the raw materials and tools used in the manufacturing of a product.F) B) and C)
G) A) and B)

Question 16

A reorder of an existing product or service from a list of acceptable suppliers is referred to as a

Accepted Answer

A)  new buy.
B)  straight rebuy.
C)  modified rebuy.
D)  standard reorder.
E)  make-buy.F) A) and C)
G) C) and E)

Question 17

A buy class situation affects buying center tendencies in different ways.If there is one person involved,the problem definition is well-defined,and the time required for a decision is short,the buy class situation is a

Accepted Answer

A)  new buy.
B)  straight rebuy.
C)  conditional rebuy.
D)  modified rebuy.
E)  standard buy.F) All of the above
G) A) and B)

Question 18

Organizational buying criteria refer to

Accepted Answer

A)  the restrictions placed on potential solutions to a problem in a purchase decision.
B)  the specific qualifications of a potential customer based upon past performance,reliability,and consistency regarding the purchase of an organization's offerings.
C)  the subjective attributes of the supplier's products and services and the capabilities of the supplier itself.
D)  the objective attributes of the supplier's products and services and the capabilities of the supplier itself.
E)  the factors that an ultimate consumer would consider that represent both the objective attributes of a brand and the subjective ones to compare different products and brands.F) None of the above
G) B) and D)

Question 19

Archer Daniels Midland Co.(ADM) is the world's largest cocoa-bean processor.It buys cocoa beans and converts them into cocoa powder and cocoa butter,which it then sells to companies like Hershey's that manufacture consumer products containing chocolate.ADM is operating in a(n) __________ market.

Accepted Answer

A)  consumer
B)  government
C)  service
D)  reseller
E)  industrialF) None of the above
G) B) and D)

Question 20

A supply partnership refers to

Accepted Answer

A)  an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors.
B)  the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer.
C)  when a supplier requires a buyer purchasing some products from it to also buy others.
D)  a relationship that exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost of or increasing the value of products and services delivered to the ultimate customer.
E)  the practice whereby a seller requires the purchaser of one product to also buy another item in the line.F) A) and D)
G) A) and C)

Exam 5: Understanding Organizations As Customers

Itex Corporation,a marketer of Photostat products used in the graphic arts field,buys photo sensitized paper from Eastman Kodak Company,packages it with the Photostat brand name,and sells it directly to amateur photographers.In this context,Itex Corporation is most accurately classified as a

Correct Answer
verified

All of the following statements about the size of the purchase involved in organizational buying EXCEPT:

Correct Answer
verified

List four common organizational buying criteria.

Correct Answer
verified
Key organizational buying criteria inclu...
View Answer

Correct Answer
verified

Once an organization passes through the problem recognition stage of the organizational buying decision process,it reaches the __________ stage.

Correct Answer
verified

There are seven commonly used organizational buying criteria.One of them is __________.

Correct Answer
verified

Archer Daniels Midland Co.(ADM) is the world's largest cocoa-bean processor.It buys cocoa beans and converts them into cocoa powder and cocoa butter,which it then sells to companies like Hershey's that manufacture consumer products containing chocolate.ADM is operating in a(n) __________ market.

Correct Answer
verified

A supply partnership refers to

Correct Answer
verified

A buying center refers to

Correct Answer
verified

Correct Answer
verified

Organizational buying criteria refer to

Correct Answer
verified

Federal,state,and local agencies that buy products and services for the constituents they serve are referred to as

Correct Answer
verified

The North American Industry Classification System (NAICS) system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The third digit designates a(n)

Correct Answer
verified

A reorder of an existing product or service from a list of acceptable suppliers is referred to as a

Correct Answer
verified

Organizational buying behavior refers to

Correct Answer
verified

Airbus manufactures commercial aircraft that it sells to a variety of airlines worldwide.Still,demand for its products often depends on rates of air travel among consumers.Demand for Airbus products is referred to as __________ demand.

Correct Answer
verified

Describe the three types of organizational markets and give examples of each.

Correct Answer
verified
There are three types of organizational ...
View Answer

Online buying in organizational markets is prominent because Internet technology

Correct Answer
verified

In an e-marketplace,an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a

Correct Answer
verified

A buy class situation affects buying center tendencies in different ways.If there is one person involved,the problem definition is well-defined,and the time required for a decision is short,the buy class situation is a

Correct Answer
verified

Exam 5: Understanding Organizations As Customers

Itex Corporation,a marketer of Photostat products used in the graphic arts field,buys photo sensitized paper from Eastman Kodak Company,packages it with the Photostat brand name,and sells it directly to amateur photographers.In this context,Itex Corporation is most accurately classified as a

Correct AnswerverifiedShow Answer

All of the following statements about the size of the purchase involved in organizational buying EXCEPT:

Correct AnswerverifiedShow Answer

List four common organizational buying criteria.

Correct AnswerverifiedKey organizational buying criteria inclu...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Once an organization passes through the problem recognition stage of the organizational buying decision process,it reaches the __________ stage.

Correct AnswerverifiedShow Answer

There are seven commonly used organizational buying criteria.One of them is __________.

Correct AnswerverifiedShow Answer

Archer Daniels Midland Co.(ADM) is the world's largest cocoa-bean processor.It buys cocoa beans and converts them into cocoa powder and cocoa butter,which it then sells to companies like Hershey's that manufacture consumer products containing chocolate.ADM is operating in a(n) __________ market.

Correct AnswerverifiedShow Answer

A supply partnership refers to

Correct AnswerverifiedShow Answer

A buying center refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Organizational buying criteria refer to

Correct AnswerverifiedShow Answer

Federal,state,and local agencies that buy products and services for the constituents they serve are referred to as

Correct AnswerverifiedShow Answer

The North American Industry Classification System (NAICS) system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The third digit designates a(n)

Correct AnswerverifiedShow Answer

A reorder of an existing product or service from a list of acceptable suppliers is referred to as a

Correct AnswerverifiedShow Answer

Organizational buying behavior refers to

Correct AnswerverifiedShow Answer

Airbus manufactures commercial aircraft that it sells to a variety of airlines worldwide.Still,demand for its products often depends on rates of air travel among consumers.Demand for Airbus products is referred to as __________ demand.

Correct AnswerverifiedShow Answer

Describe the three types of organizational markets and give examples of each.

Correct AnswerverifiedThere are three types of organizational ...View AnswerShow Answer

Online buying in organizational markets is prominent because Internet technology

Correct AnswerverifiedShow Answer

In an e-marketplace,an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a

Correct AnswerverifiedShow Answer

A buy class situation affects buying center tendencies in different ways.If there is one person involved,the problem definition is well-defined,and the time required for a decision is short,the buy class situation is a

Correct AnswerverifiedShow Answer

Correct Answer
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verified
Key organizational buying criteria inclu...
View Answer

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Correct Answer
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Correct Answer
verified
There are three types of organizational ...
View Answer

Correct Answer
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Correct Answer
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