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Marketing Questions quiz




Question;101. Business markets have several;characteristics that contrast sharply with those of consumer markets. Name and;briefly characterize five of those contrasts.;102. Illustrate the differences between a straight;rebuy, modified rebuy, and a new;task purchase.;103. List and briefly describe the seven roles;played by members of a buying center.;104. In defining target market segments, four types of business;customers can often be identified with corresponding marketing implications. List and briefly describe each of these;business customers.;105. Explain the concept of solution;selling. Give one example of this;approach.;106. The;upgrading of purchasing means that business marketers must upgrade their sales;personnel to match the higher caliber of the business buyers. List and briefly;describe the three company;purchasing orientations that buyers select from.;107. Peter;Kraljic distinguished four product-related purchasing processes. List and;briefly describe each of these four product groups.;108. List the stages (buyphases) of the;industrial buying process.;109. List;and briefly characterize five methods of assessing customer value.;110. Cannon and Perreault found that;buyer-supplier relationships;differed according to four factors: availability of alternatives, importance of supply, complexity;of supply, and supply market dynamism. Based on these four factors, they;classified buyer-supplier relationships;into eight different categories. What are those categories?;APPLICATION QUESTIONS;Multiple Choice;111. German software company;SAP has become a leading seller to the business market by specializing in;software to automate business functions. SAP?s ________ strategy is to focus;carefully on what customers want, and shows them how SAP?s software;applications can improve profits;raise revenue, or reduce costs.;a. product;b. service;c. leadership;d. concentrated;e. simplistic;112. The ________ market 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. non-profit;b. business;c. hardware;d. software;e. government;113. IBM counts small to;midsize businesses as 20 percent of its business and has launched ________, a;line of hardware, software services, and financing, for this market.;a. Impresario;b. Express;c. Datacount;d. Smallbiz;e. TaxMan;114. More than half of U.S. business;buyers are concentrated in seven states. Which of the following states WOULD;NOT be among those favored by;business buyers?;a. Texas;b. New York;c. California;d. Pennsylvania;e. Ohio;115. Jason Riggs? company;is considered to be an in-supplier for a lawn mower;manufacturer. However, recently the lawn mower;company has put out a memo to in- and out-suppliers indicating that it would;like to modify product;specifications and delivery schedules. Which of the following buying situations;is most likely to be in operation;given the data above?;a.;Straight rebuy;b. Elastic;rebuy;c. Fluctuating;rebuy;d. Flatten;rebuy;e. Modified;rebuy;116. All of the following are considered to be;guidelines for selling to small businesses EXCEPT ________.;a. do not use the Internet;b. do keep it simple;c. don?t lump small and midsize businesses together;d. don?t forget about direct contact;e. do provide after the sale;support;117. Ford Motor Co. has;forged supplier and manufacturing relationships;around the world. Today, an accurate;description of this automotive giant;is one where it is characterized as being mainly a car ________.;a. designer;b. manufacturer;c. assembler;d. distributor;e. promoter;118. If you decided to go;into the systems contractingbusiness;which of the following categories would constitute your main area of expertise;in that this area would be what service you provide for customers.;a. Computer;applications;b. Database management;c. Manufacturing;d. Promotion;management;e. MRO (maintenance, repair;operating) supplies;119. Think about what you;have learned about a buying center. If you performed the role of the;you would be the person that has the power to prevent sellers or information;from them in reaching other members of the buying center.;a. initiator;b. influencer;c. decider;d. gatekeeper;e. approver;120. According to Webster;with respect to buying center influences, senior managers should remember that;people are ________.;a. not buying products?they are;buying solutions to problems;b. buying products that they;personally will not use;c. buying surrogates that must;appreciate that role;d. are human shopping bots;e. limited in their scope of;overall business operations;121. Consider;yourself as an upper-level marketing executive a large seller of fleet trucks. Which of the following strategies would be most appropriate in reaching buying center targets?;a.;Concentrate on key buying influencers.;b.;Use multilevel in-depth selling.;c.;Use trade-based promotions.;d.;Begin all sales efforts with the secretarial support;staff.;e. Move all operations to the;Net.;122. Billijean Monk tells her supplier, ?Price;is everything! I mean if it?s not priced;right, I am out of here fast.? To succeed in selling to Ms. Monk, which of the;following strategies would be most;appropriate?;a. Consultative selling;b. Quality selling;c. Enterprise selling;d. Transactional selling;e. High pressure, high risk;selling;123. The Tuxax Company;has decided that handling price-oriented buyers can be profitable under certain;conditions. Conditions that would make good sense for Tuxax Company would be all of the following EXCEPT ________.;a. limiting the quantity that;can be purchased;b. no services;c. no adjustments;d. no refunds;e. no packaging or crating;124. The new, more;strategically oriented purchasing departments have a mission to ________.;a. always make a profit;b. always take the lowest bid;c. seek the best value from;fewer and better suppliers;d. continue to seek outsourcing;as their primary strategy;e. use consultants whenever;possible;125. If a buyer is using the buying tactic of commoditization, he or she has a ________ as their;purchasing orientation.;a. buying orientation;b. procurement orientation;c. supply chain management orientation;d. raw materials orientation;e. simultaneous orientation;126. Spare parts are considered to be an example of a ________ product in that they have a low;value and cost to the customer but they involve some risk with respect to;reliability.;a. routine;b. leverage;c. strategic;d. bottleneck;e. strangle-hold;127. Which of the following buyclasses uses the least number of;buyphases (stages) in the industrial buying process?;a. Straight rebuy;b. Modified rebuy;c. New task;d. Global task;e. Relational rebuy;128. Japan;has an extremely well organized organizational buying process, however, because;of its strategic bottleneck position, the ________ is critical to the success;of any venture.;a. marketing department;b. production department;c. delivery department;d. accounting department;e. inventory control department;129. Which of the following methods for assessing customer value;would you consider to be appropriate if you asked your customers to attach a monetary value to each of three alternative levels;of a given attribute? Those values would then be added together for any offer;configuration.;a. Direct survey questions;b. Importance;ratings;c. Compositional;approach;d. Benchmarks;e. Conjoint analysis;130. With respect to buyer-seller relationships;which of the following categories would you believe to be the most appropriate description of a situation where;there was a traditional custom supply situation where competition;rather than cooperation was the dominant form of governance?;a. Bare bones;b. Contractual transaction;c. Collaborative;d. Customer supply;e. Customer is king;Short Answer;131. The business market 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. What are the;major industries that make up the business market?;132. Define;organizational buying.;133. Explain how fluctuating demand impacts;business markets differently than consumer markets.;134. If you were a purchasing agent facing a modified;rebuy situation, how would you describe that situation?;135. In systems buying, the U.S. government often solicits bids from primary contractors.;What do primary contractors do?;136. Systems selling is a key industrial marketing strategy in;bidding to build large-scale industrial projects. Competition;for these projects is fierce. What are the main areas of competition for these project engineering firms?;137. Webster and Wind call the;decision-making unit of a buying organization the buying center.What is the composition of the buying center?;138. Assume that you are buying center manager who has decided to;pursue a market segment called the ?gold-standard customers.? What would be the;best strategy to reach these customers?;139. Assume that you are a purchasing manager that has adopted a ?buying;orientation? in making this year?s purchases. What two tactics are often used;by purchasing managers with this orientation?;140. Peter Kraljic distinguished four;product-related purchasing processes. Which of these processes would be most appropriate for a buyer of mainframe computers?;141. E-procurement Web sites are organized around two types of;e-hubs. If you were in the advertising business and were seeking to take;advantage of e-procurement, what type of e-hub should be constructed by your company?;Suggested Answer:The two types of hubs are vertical hubs (centered on industries such as;plastics) and functional hubs (centered on functions such as advertising).;Therefore, you would construct a functional hub.;142. Business-to-business (B2B) cyberbuying has become increasingly;popular between purchasing agents and buying centers. How could ?pure play?;auction sites be used to conduct cyberbuying?;143. In 2003,Hewlett-Packard was named number one in BtoBmagazine?s annual ranking of the;top B-to-B Web sites. What does this Web site allow companies;to do that makes it worthy of the distinction mentioned?;144. Assume that you have been given the task of assessing customer;value at your organization. Further, you have been instructed to use the ?compositional approach? to make this assessment.;Describe what you would do if you used the compositional;approach in assessing customer value.;145. In the buygrid framework model where the major stages of the industrial;buying process are listed and characterized, supplier selection is an important process. What follows supplier selection and;what occurs in this phase?;146. A customer tells a supplier that he or she would like ?OTIFNE?;as a desired outcome of upcoming purchase transaction. What has the customer;indicated that he or she wants by using this acronym?;147. As a seller in the business market, you;have promised your customers that you have, as a corporate goal, corporate;credibility. What three factors will have some bearing on whether you will be;able to meet your goal and promise?;148. Cannon and Perreault found that;buyer-supplier relationships could;be classified into eight different categories. What category would be;appropriate for a relationship where, although bonded by a close, cooperative;relationship, the seller adapts to meet the customer?s needs without expecting;much adaptation or change on the part of the customer in exchange?;149. Your organization is considering selling its products to the;institutional market. What type of customers will you be making your appeals;to? Give specific examples.;150. As a purchasing manager, you have just completed a large contract with the U.S. government where your company;sold the government several ?tech-oriented?;products and services. What three tips;would be appropriate to pass along to those that would also like to tap into;this large market?


Paper#47374 | Written in 18-Jul-2015

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