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Saint mkt565 quiz 3




Question;1.;Moving into e-procurement has many benefits. Which of the following would not be among those benefits?;(Points: 5);Aggregating purchasing across departments gains larger volume discounts.Aggregating purchasing gains centrally negotiated volume discounts.There is less buying of substandard goods from suppliers not on the approved list.A smaller purchasing staff is required.Purchasing gains a significant leverage with top management because of its management team.;Question 2.;2.;is a key industrial marketing strategy in bidding to;build large-scale industrial products (e.g., dams, pipelines, et;cetera).;(Points: 5);Systems contractingSystems buyingSystems sellingSolutions buyingTurnkey logistics;Question 3.;3.;A company can be said to have used ________ if the company;distinguished among customers buying on the basis of price, service, and;quality.;(Points: 5);macrosegmentationmicrosegmentationstrategic segmentationglobal segmentationshort-term segmentation;Question 4.;4.;Business buyers are ultimately purchasing solutions to two;problems: the organization's economic and strategic problem and;(Points: 5);their own personal need for individual achievement and rewardthe community's continued health and well-beingthe fulfillment of the company's social impact goalsto maximize overall firm performancenone of the above;Question 5.;5.;Johnson & Johnson broadened its target market for its baby shampoo to include adults through ________.;(Points: 5);countersegmentationmetamarketingundifferentiated marketingproduct specializationsingle-segment concentration;Question 6.;6.;Which of the following statements about market segmentation is true?;(Points: 5);It;involves changing the identity of a product, relative to the identity;of competing products, in the collective minds of the target market.It is a process of evaluating each segment's attractiveness and selecting one or more to enter.It is a process of creating an image or identity of the product in the minds of the target market.It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.;Question 7.;7.;A marketer is interested in segmenting a business market;based on technology and customer capabilities. Which of the following;major segmentation variables would most likely be used by the marketer;to assist with the task?;(Points: 5);Demographic variablesPurchasing approachesSituational factorsPersonal characteristicsOperating variables;Question 8.;8.;All of the following are methods of assessing customer value EXCEPT ________.;(Points: 5);direct survey questionsexit interviewingfocus-group value assessmentconjoint analysisbenchmarks;Question 9.;9.;A behavioral segmentation method related to the Conversion;Model is the Gravity of Decision Spectrum. On the shallow end of the;spectrum, consumers seek products and services they think will ________.;(Points: 5);make them appear more wealthy than they arehelp them save face in publicly visible situationsreinforce their emotional stabilityalign with their core values and beliefssave them time, effort, and money;Question 10.;10.;The ________ market consists of schools, hospitals, nursing;homes, prisons, and other institutions that must provide goods and;services to people in their care.;(Points: 5);verticalnonprofitspotsecondary businessinstitutional;Question 11.;11.;A marketer interested in segmenting a business market based;on ________ intends to eventually segment the market based on power;structure and purchasing criteria.;(Points: 5);situational factorspurchasing approachespersonal characteristicsoperating variablesdemographic variables;Question 12.;12.;As an alternative to reducing price, sellers may handle;price-oriented buyers by establishing any of the following purchasing;conditions EXCEPT ________.;(Points: 5);limiting the quantity that can be purchasedno refundsno adjustmentsno servicesno customer advertising;Question 13.;13.;According to the VALS segmentation system, ________ are;successful, sophisticated, active, "take-charge" people with high;self-esteem. Their purchases often reflect cultivated tastes for;relatively upscale, niche-oriented products and services.;(Points: 5);innovatorsthinkersachieversexperiencersbelievers;Question 14.;14.;When buyers cannot easily monitor supplier performance, the;supplier might shirk or cheat and not deliver the expected value.;is "some form of cheating or undersupply relative to an;implicit or explicit contract.;(Points: 5);Institutional saleOpportunismBusiness buyingVertical integrationContractual transactionism;Question 15.;15.;Which of the following reflects high trust between business sellers and buyers?;(Points: 5);Distorted and hidden informationIncentive alignment for seller, not customer gainsLimited or biased product comparisons and adviceMinimal customer education and supportCustomers help design products individually and through committees;Question 16.;16.;The total demand for many business goods and services is ________ ?that is, not much affected by price changes.;(Points: 5);derivedfluctuatingacceleratedmultipleinelastic;Question 17.;17.;The ________ consists of all the organizations that acquire;goods and services used in the production of other products or services;that are sold, rented, or supplied to others.;(Points: 5);business marketconsumer markete-commerce marketglobal marketsupplier market;Question 18.;18.;Procter & Gamble has many soap brands. One reason for;this is that soap users tend to group together in terms of preferences;such as bleaching action, softness, stain removal, et cetera. Which of;the following preferences pattern would most likely apply to P&G's;method of response to market needs?;(Points: 5);Homogeneous preferencesDiffused preferencesClustered preferencesPsychological preferencesCultural preferences;Question 19.;19.;Marketers usually identify niches by ________.;(Points: 5);dividing a segment into subsegmentsconducting VALS testsallowing consumers to gravitate toward product brandsexamining the demographics section of The Handbook of Marketingproducing products that can be used in a variety of ways;Question 20.;20.;A supplier signs an agreement with a customer that states;$350,000 in savings will be earned by the customer over the next 18;months in an exchange for a tenfold increase in the customer's share of;supplies ordered by the customer. This is an example of ________.;(Points: 5);solution sellingconsultative sellingrisk and gain sharingstrategic alignmentdemand shifting


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