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general business data bank




Question;GENERAL CONCEPT QUESTIONS;Multiple Choice;1.;To create and;capture value, sellers need to understand business organizations? needs;resources, policies, and ________.;a.;demands;b.;protocols;c.;strategies;d.;buying procedures;e.;personnel policies;2.;Webster and Wind define;as the decision-making process by which formal organizations establish the need;for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.;a.;marketing channels;b.;organizational buying;c.;demand-oriented buying;d.;purchasing;e.;inventory control;3.;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.;a.;business market;b.;consumer market;c.;e-commerce market;d.;global market;e.;supplier market;4.;Business markets have several characteristics that;contrast sharply with those of consumer markets. All of the following would be;among those characteristics EXCEPT ________.;a.;fewer, larger buyers;b.;close supplier-customer relationship;c.;professional purchasing;d.;inverted demand;e.;multiple sales calls;5.;All of the following would;be among the major industries that;make up the business market EXCEPT ________.;a.;agriculture, forestry, and fisheries;b.;manufacturing;c.;construction;d.;banking, finance, and insurance;e.;the Internet;6.;Trained purchasing agents;who must follow their organization?s ________, often purchase business goods.;a.;culture;b.;past purchasing history;c.;purchasing policies, constraints, and requirements;d.;needs;e.;financial budgets;7.;Ultimately, the amount of steel sold to General Motors depends on the;consumer?s demand for GM cars and trucks.;From the standpoint of the steel manufacturer, which of the following demand;forms is most pertinent?;a.;Derived demand;b.;Inelastic demand;c.;Geographic demand;d.;Relational demand;e.;Static demand;8.;The demand for business;goods is ultimately derived from the demand for ________.;a.;raw materials;b.;consumer goods;c.;electronics;d.;business solutions;e.;e-commerce;9.;The business buyer faces;many decisions in making a purchase. The number of decisions depends on the;buying situation. All of the following examples;are appropriate to the preceding EXCEPT ________.;a.;complexity;of the problem being solved;b.;newness of the buying requirement;c.;number of people involved;d.;applicability of situation to mission statement;e.;time required;10. The purchasing department buys office supplies on a routine basis. This;type of purchase is classified as a ________.;a.;straight rebuy;b.;modified rebuy;c.;new task;d.;secondary purchase;e.;preordained purchase;11. There are a series of guidelines for selling to small businesses. Which;of the following should not be among;those guidelines?;a.;Don?t waste their time.;b.;Do keep it simple.;c.;Do use the Internet.;d.;Don?t forget about direct contact.;e.;Do lump;small and midsize businesses together for efficiency sake.;12. The;business buyer makes the fewest decisions in the ________.;a.;modified rebuy;b.;regular buy;c.;straight rebuy;d.;new rebuy;e.;new task buy;13. Many business buyers prefer to buy a total solution to a problem from one;seller. ________ is the correct term for this process.;a.;Channel consolidation;b.;Systems buying;c.;Vertical buying;d.;Horizontal buying;e.;Supply buying;14. Xerox offers a ________ approach to prospective clients when it offers a;complete turnkey procedure;operation, and management of the client?s information and communication;need.;a.;supply buying;b.;primary buying;c.;systems buying;d.;co-op buying system;e.;direct buying;15. If Ampex;Support Systems is the single supplier for a local manufacturing company?s MRO (maintenance, repair, operating);supplies and needs, Ampex Support;Systems would then be considered as providing ________ for the manufacturer.;a.;systems buying;b.;purchasing;support;c.;turnkey logistics;d.;decision support;e.;systems contracting;16. ________ is a key;industrial marketing strategy in bidding to build large-scale industrial;products (e.g., dams, pipelines, et cetera).;a.;Systems contracting;b.;Systems buying;c.;Systems selling;d.;Solutions buying;e.;Turnkey logistics;17. ________ is composed of all;those individuals and groups who;participate in the purchasing decision-making process, who share some common goals and the risks;arising from their decisions.;a.;The buying center;b.;The marketing sales team;c.;Strategic management;d.;Engineering support;e.;The logistics center;In the purchasing decision process, the ________ arethose;who request that something be purchased. They may be users or others in the;organization.;f.;users;g.;initiators;h.;influencers;i.;deciders;j.;approvers;18. In the purchasing;decision process, the ________ arethose who have the;power to prevent sellers or information from reaching members of the buying;center.;a.;gatekeepers;b.;buyers;c.;initiators;d.;approvers;e.;deciders;19. The typical;buying center has a minimum of ________ members.;a.;2?3;b.;3?4;c.;4?5;d.;5?6;e.;10;20. Webster;cautions that ultimately, ________ make purchasing decisions.;a.;only senior managers;b.;individuals, not organizations;c.;organizations, not individuals;d.;third parties;e.;systems contractors;21. Small sellers;concentrate their marketing efforts on reaching ________.;a.;approvers;b.;initiators;c.;key buying influencers;d.;users;e.;the purchasing staff;22. To the;price is everything and transactional selling is used.;a.;solution-oriented customers;b.;income-oriented customers;c.;gold-standard customers;d.;strategic-value customers;e.;price-oriented customers;23. The strategic-value customers want a fairly;permanent sole-supplier relationship with your company.;Which of the following would be the best selling format to use with the;strategic-value customer?;a.;Transactional selling;b.;Consultative selling;c.;Quality selling;d.;Enterprise selling;e.;Indirect demand selling;24. Some customers;are willing to handle price-oriented buyers by setting a lower price, but;establishing restrictive conditions. All of the following would be among those conditions EXCEPT ________.;a.;limiting the quantity that can be purchased;b.;no refunds;c.;no adjustments;d.;no services;e.;no customer advertising;25. If 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 ten-fold increase in the customer?s share of supplies;ordered by the customer, the two parties will have participated in what is;called ________.;a.;solution selling;b.;consultative selling;c.;risk and gain sharing;d.;strategic alignment;e.;demand shifting;26. W.W. Grainger employees work at large customer facilities to reduce;materials-management costs. Which of the following forms of solution selling is;W.W. Grainger using?;a.;Solutions to partnerships.;b.;Solutions to alter corporate culture.;c.;Solutions to enhance customer revenues.;d.;Solutions to decrease customer risks.;e.;Solutions to reduce customer costs.;27. In principle;business buyers seek to ________ in relation a market offering?s costs.;a.;spread risks;b.;obtain the highest benefit package;c.;maintain everyday-low-prices;d.;outsource as much as is possible;e.;eliminate partners? shares in profits as much as;possible;28. In the past, what position did purchasing departments hold in the;management hierarchy of most;organizations?;a.;A high level because of their role in managing the;company?s costs.;b.;A moderate;level because of their spotty record on controlling costs.;c.;A low level despite the fact that they manage more than half of the company?s;costs.;d.;A secretive position.;e.;There has been no determination of this position.;29. The new, more;strategically-oriented purchasing departments have a mission. Which of the;following most accurately describes;that mission?;a.;Make the most;profit possible and remain independent of entanglements.;b.;Approach every purchasing opportunity as means to;create interdependency.;c.;Seek the best value from fewer and better suppliers.;d.;Outsource the supply function.;e.;Abandon all strategies except for systems selling;and buying.c;30. When thepurchaser?s focus is short term and tactical and they are rewarded on;their ability to obtain the lowest price from suppliers for the given level of;quality and availability, this is referred to as ________.;a.;procurement orientation;b.;supply chain management orientation;c.;buying orientation;d.;sellers orientation;e.;market orientation;31. Whenbuyers simultaneously seek quality improvements;and cost reductions and they develop collaborative relationships with major suppliers and seek savings through;better management of acquisition, conversion, and disposal costs, this is;referred to as ________.;a.;sellers orientation;b.;supply chain management orientation;c.;market orientation;d.;procurement orientation;e.;buying orientation;32. When thepurchasing role is further broadened to become a more;strategic, value-adding operation, this is referred to as ________.;a.;supply chain management orientation;b.;buying orientation;c.;sellers orientation;d.;procurement orientation;e.;routine orientation;33. Peter Kraljic distinguished four product-related purchasing processes.;Which of the following matches to products that have high value and cost to the;customer but involve little risk of supply because many companies make them?;a.;Strategic products;b.;Bottleneck products;c.;Leverage products;d.;Routine products;e.;Commodity;products;34. The products that;have high value and cost to the customer and also;involve high risk (e.g., mainframe computers);are called ________.;a.;strategic products;b.;bottleneck products;c.;leverage products;d.;routine products;e.;commodity;products;35. Most purchasing;professionals describe their jobs as more;technical, team-oriented, and involving more;responsibility than ever before.;a.;risky;b.;strategic;c.;ethically difficult;d.;Web-based;e.;human-based;36. Robinson and;Associates have identified eight stages and called them buyphases. This model is called the ________ framework.;a.;buygrid;b.;buying/selling;c.;seller-centered;d.;commercial;e.;buy-analysis;37. The first step (buyphase) in the straight rebuy buyclass is ________.;a.;problem recognition;b.;general need description;c.;product specification;d.;supplier search;e.;proposal solicitation;38. A new task buyclass decision begins with which of the following;buyphases?;a.;Problem recognition;b.;General need description;c.;Product specification;d.;Supplier search;e.;Proposal solicitation;39. Business marketers can stimulate problem recognition by ________.;a.;trade directories;b.;direct mail, telemarketing, and calling on prospects;c.;encouraging the Better Business Bureau to release;statistics;d.;consumer advertising;e.;requesting testimonials;from existing customers;40. When Hewlett-Packard sells such complex;products as a network computer;system, it is engaging in what it calls the ________ concept because it offers;information and specific solutions to unique problems.;a.;?product specification?;b.;?price de-escalation?;c.;?systems selling?;d.;?trusted advisor?;e.;?strategic alliance?


Paper#47196 | Written in 18-Jul-2015

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