Question 1

Market-driven firms attempt to match their resources,skills,and capabilities with:

Accepted Answer

A)  competitive intelligence.
B)  customers needs that are not currently being served adequately.
C)  derived demand.
D)  the needs of upstream suppliers.E) B) and C)
F) A) and B)

Question 2

Which type of goods are treated as an expense item because they do not enter the production process or become part of the finished product?

Accepted Answer

A)  Facilitating Goods
B)  Foundation Goods
C)  Entering Goods
D)  None of the above are correct.E) B) and D)
F) All of the above

Question 3

The particular skills,abilities,and processes that an organization has developed to manage close customer relationships are referred to as:

Accepted Answer

A)  the customer-linking capability.
B)  channel management.
C)  derived demand.
D)  the market-sensing capability.
E)  the extended enterprise.F) A) and D)
G) All of the above

Question 4

Functional areas other than marketing directly or indirectly affect which of the following ?

Accepted Answer

A)  Product marketing decisions
B)  Price marketing decisions
C)  Promotion marketing decisions
D)  Distribution marketing decisions
E)  All of the above are affectedF) A) and C)
G) B) and C)

Question 5

Due to downturns in the economy,the demand for many consumer products tends to fluctuate more than the demand for industrial products.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following characteristics of business customers is true?

Accepted Answer

A)  A single purchase by a business customer is typically larger than that of an individual consumer.
B)  Demand for industrial products is derived from ultimate demand for consumer products.
C)  Relationships between business marketers tend to be close and enduring.
D)  All of the above characteristics are true.
E)  Only (a) and (b) are true.F) All of the above
G) B) and D)

Question 7

The ability of an organization to quickly recognize changes in its market and to anticipate customer responses to marketing programs is referred to as:

Accepted Answer

A)  market research capability.
B)  customer-linking capability.
C)  competitive intelligence.
D)  market-sensing capability.
E)  derived demand.F) B) and C)
G) B) and E)

Question 8

When purchasing machine tools for their plants,American Honda is:

Accepted Answer

A)  an original equipment manufacturer.
B)  a user.
C)  a distributor.
D)  an institutional buyer.
E)  an upstream supplier.F) A) and B)
G) B) and E)

Question 9

With little or no additional processing,____ can be installed directly into another product.

Accepted Answer

A)  component parts
B)  component materials
C)  operating equipment
D)  light factory equipment
E)  all of the aboveF) A) and E)
G) A) and D)

Question 10

Marketers who want to serve both consumer and business market sectors should:

Accepted Answer

A)  develop a market oriented organizational plan.
B)  become proficient in understanding customers.
C)  become proficient in satisfying customers.
D)  all of the above.
E)  (a) and (b) only.F) B) and E)
G) A) and B)

Question 11

The skills required to identify,initiate,develop,and maintain profitable customer relationships describes:

Accepted Answer

A)  customer management relationship capabilities.
B)  market-sensing capabilities.
C)  derived demand.
D)  supply chain management.
E)  the extended enterprise.F) A) and D)
G) A) and C)

Question 12

Personal selling is less important for supplies than it is for other categories of goods,such as installations.

Accepted Answer

A) True 
 B)False

Question 13

Firms operating in the business market must respond not to a single consumer but to a much wider group of buying influentials,all of whom may bring different criteria to bear on the purchase decision.

Accepted Answer

A) True 
 B)False

Question 14

The business market consists of the following three components:

Accepted Answer

A)  commercial enterprises,resellers,and government.
B)  manufacturers,institutions,and defense.
C)  manufacturers,service organizations,and government.
D)  commercial enterprises,service organizations,and government.
E)  commercial enterprises,institutions,and government.F) None of the above
G) C) and D)

Question 15

The distinguishing characteristic(s) of foundation goods is(are) that they:

Accepted Answer

A)  are capital items.
B)  are expense items.
C)  become part of the finished product.
D)  Both (a) and (c) are true.
E)  All of the above are true.F) B) and C)
G) A) and B)

Question 16

The use of law firms or advertising agencies by business marketers constitutes what type of industrial good?

Accepted Answer

A)  Facilitating goods.
B)  Entering goods.
C)  Foundation goods.
D)  Installations.E) B) and C)
F) None of the above

Question 17

Marketing activities directed toward establishing,developing,and maintaining successful exchanges with customers is:

Accepted Answer

A)  relationship marketing.
B)  global marketing.
C)  cross-functional marketing.
D)  supply chain management.E) A) and C)
F) C) and D)

Question 18

Personal computers and light factory equipment such as portable drills provide examples of industrial goods that would be classified as accessory equipment.

Accepted Answer

A) True 
 B)False

Question 19

Mead Paper Company recently purchased a new high-speed paper machine for one of their plants. The new machine is used in manufacturing a special grade of paper at a rate of over 1500 feet per minute. This product would be classified as:

Accepted Answer

A)  a facilitating good.
B)  an entering good.
C)  accessory equipment.
D)  an installation.
E)  none of the above.F) A) and C)
G) B) and E)

Question 20

Based on the volume of their purchases,_____ are the most important commercial customers in the business or industrial market.

Accepted Answer

A)  construction companies
B)  manufacturers
C)  transportation companies
D)  service firms (e.g.,hotels) 
E)  health care facilitiesF) C) and D)
G) A) and E)

Exam 1: A Business Marketing Perspective

Firms operating in the business market must respond not to a single consumer but to a much wider group of buying influentials,all of whom may bring different criteria to bear on the purchase decision.

Correct AnswerverifiedShow Answer

Which type of goods are treated as an expense item because they do not enter the production process or become part of the finished product?

Correct AnswerverifiedShow Answer

Which of the following characteristics of business customers is true?

Correct AnswerverifiedShow Answer

Based on the volume of their purchases,_____ are the most important commercial customers in the business or industrial market.

Correct AnswerverifiedShow Answer

With little or no additional processing,____ can be installed directly into another product.

Correct AnswerverifiedShow Answer

The distinguishing characteristic(s) of foundation goods is(are) that they:

Correct AnswerverifiedShow Answer

The ability of an organization to quickly recognize changes in its market and to anticipate customer responses to marketing programs is referred to as:

Correct AnswerverifiedShow Answer

Marketing activities directed toward establishing,developing,and maintaining successful exchanges with customers is:

Correct AnswerverifiedShow Answer

Functional areas other than marketing directly or indirectly affect which of the following ?

Correct AnswerverifiedShow Answer

The skills required to identify,initiate,develop,and maintain profitable customer relationships describes:

Correct AnswerverifiedShow Answer

When purchasing machine tools for their plants,American Honda is:

Correct AnswerverifiedShow Answer

Personal computers and light factory equipment such as portable drills provide examples of industrial goods that would be classified as accessory equipment.

Correct AnswerverifiedShow Answer

The use of law firms or advertising agencies by business marketers constitutes what type of industrial good?

Correct AnswerverifiedShow Answer

Due to downturns in the economy,the demand for many consumer products tends to fluctuate more than the demand for industrial products.

Correct AnswerverifiedShow Answer

Marketers who want to serve both consumer and business market sectors should:

Correct AnswerverifiedShow Answer

Mead Paper Company recently purchased a new high-speed paper machine for one of their plants. The new machine is used in manufacturing a special grade of paper at a rate of over 1500 feet per minute. This product would be classified as:

Correct AnswerverifiedShow Answer

Personal selling is less important for supplies than it is for other categories of goods,such as installations.

Correct AnswerverifiedShow Answer

The business market consists of the following three components:

Correct AnswerverifiedShow Answer

Market-driven firms attempt to match their resources,skills,and capabilities with:

Correct AnswerverifiedShow Answer

The particular skills,abilities,and processes that an organization has developed to manage close customer relationships are referred to as:

Correct AnswerverifiedShow Answer

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