Question 1

Online buying in organizational markets is prominent because Internet technology

Accepted Answer

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

Question 2

Which of these statements regarding organizational buyers is most accurate?

Accepted Answer

A)  Wholesalers and retailers resell the goods they buy without reprocessing them.
B)  Wholesalers and retailers alter the goods they sell to meet the specific needs of their customers prior to resale.
C)  Manufacturers purchase processed goods and resell them to suppliers who in turn resell them to ultimate consumers.
D)  Ultimate consumers can be considered organizational buyers when they purchase in large quantities.
E)  Government agency purchases are more similar to ultimate consumer purchases than they are to wholesalers and retailers.

Question 3

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

Accepted Answer

A)  gatekeepers
B)  deciders
C)  buyers
D)  influencers
E)  users

Question 4

Organizational buyers can be divided into three different markets, which are

Accepted Answer

A)  industrial, wholesaler, and retailer.
B)  industrial, retailer, and government.
C)  retailer, manufacturer, and government.
D)  industrial, government, and ultimate consumer.
E)  industrial, reseller, and government.

Question 5

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

Question 6

List seven organizational buying criteria.

Accepted Answer

Key organizational buying criteria and a...

Question 7

When the Federal Aviation Administration (FAA)  purchases radar systems for 22 major air traffic control centers in the U.S., it is operating as a(n)

Accepted Answer

A)  government unit.
B)  industrial market.
C)  business market.
D)  consumer market.
E)  service provider.

Question 8

Which of the following types of firms comprises an industrial market?

Accepted Answer

A)  retailing
B)  construction
C)  wholesaling
D)  state governments
E)  federal regulatory agencies

Question 9

Which of the following statements about marketing mix characteristics in organizational buying behavior is most accurate?

Accepted Answer

A)  Few large transactions are made over the Internet.
B)  The actual buyer retains all of the influence in the buying decision.
C)  Advertising is very simplistic in nature.
D)  Direct selling to organizational buyers is the rule.
E)  Only finished goods are sold in this way.

Question 10

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Accepted Answer

The five stages of the organizational bu...

Question 11

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

Accepted Answer

A)  flexibility
B)  ability to meet the quality specifications required for the item
C)  adherence to government regulation
D)  senior management directives
E)  consumer demand

Question 12

Keystone Foods, which invented the individual quick freeze process for beef, provides McDonald's with millions of pounds of chicken, beef, and fish annually for use in its restaurants. The firm sources the animal proteins from farms and processes them in a variety of ways, such as breading or freezing, before selling them to McDonald's. Keystone is operating in a(n)  __________ market.

Accepted Answer

A)  consumer
B)  government
C)  service
D)  industrial
E)  reseller

Question 13

When the John Deere Company employs engineers who work full-time with the company's suppliers to improve their efficiency and quality and reduce their costs, it is practicing

Accepted Answer

A)  buyer development.
B)  make-buy decisions.
C)  supply partnerships.
D)  supplier development.
E)  directive purchasing.

Question 14

When prospective buyers observe the bids of others and decide whether or not to increase the bid price, it is called a(n)

Accepted Answer

A)  forward auction.
B)  reverse auction.
C)  webfront auction.
D)  traditional auction.
E)  bidder's war.

Question 15

-As shown in buying center photo above, an organization's buying center includes individuals who can play one or more of the following roles EXCEPT:

Accepted Answer

A)  gatekeepers.
B)  deciders.
C)  buyers.
D)  product champions.
E)  influencers.

Question 16

Explain the differences between independent e-marketplaces and private exchanges.

Accepted Answer

Both are forms of e-marketplaces. Indepe...

Question 17

E-marketplace can take two different formats, which are

Accepted Answer

A)  bricks-and-mortar exchanges and clicks-and-mortar exchanges.
B)  privately-owned trading communities and open-to-the-public trading communities.
C)  networked exchanges or public trading communities.
D)  independent trading communities or private exchanges.
E)  public exchanges and networked exchanges.

Question 18

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 is referred to as

Accepted Answer

A)  the consumer purchase decision process.
B)  the industrial purchase procedure.
C)  organizational buying behavior.
D)  the offering purchase framework.
E)  the sustainable procurement process.

Question 19

An organization buys products and services for one main reason, which is to

Accepted Answer

A)  achieve its own objectives.
B)  beat its competitors.
C)  satisfy the needs of its suppliers.
D)  employ people.
E)  maintain inventory.

Question 20

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Accepted Answer

A)  problem recognition
B)  information search
C)  purchase decision
D)  postpurchase behavior
E)  performance review

Exam 5: Understanding Organizations As Customers

E-marketplace can take two different formats, which are

Correct Answer
verified

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

Correct Answer
verified

Organizational buyers can be divided into three different markets, which are

Correct Answer
verified

Which of the following statements about marketing mix characteristics in organizational buying behavior is most accurate?

Correct Answer
verified

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 is referred to as

Correct Answer
verified

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Correct Answer
verified

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Correct Answer
verified
The five stages of the organizational bu...
View Answer

An organization buys products and services for one main reason, which is to

Correct Answer
verified

When the Federal Aviation Administration (FAA) purchases radar systems for 22 major air traffic control centers in the U.S., it is operating as a(n)

Correct Answer
verified

Correct Answer
verified

Which of the following types of firms comprises an industrial market?

Correct Answer
verified

Online buying in organizational markets is prominent because Internet technology

Correct Answer
verified

When prospective buyers observe the bids of others and decide whether or not to increase the bid price, it is called a(n)

Correct Answer
verified

When the John Deere Company employs engineers who work full-time with the company's suppliers to improve their efficiency and quality and reduce their costs, it is practicing

Correct Answer
verified

Explain the differences between independent e-marketplaces and private exchanges.

Correct Answer
verified
Both are forms of e-marketplaces. Indepe...
View Answer

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

Correct Answer
verified

-As shown in buying center photo above, an organization's buying center includes individuals who can play one or more of the following roles EXCEPT:

Correct Answer
verified

List seven organizational buying criteria.

Correct Answer
verified
Key organizational buying criteria and a...
View Answer

Which of these statements regarding organizational buyers is most accurate?

Correct Answer
verified

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

Correct Answer
verified

Exam 5: Understanding Organizations As Customers

E-marketplace can take two different formats, which are

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Organizational buyers can be divided into three different markets, which are

Correct AnswerverifiedShow Answer

Which of the following statements about marketing mix characteristics in organizational buying behavior is most accurate?

Correct AnswerverifiedShow Answer

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 is referred to as

Correct AnswerverifiedShow Answer

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Correct AnswerverifiedShow Answer

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Correct AnswerverifiedThe five stages of the organizational bu...View AnswerShow Answer

An organization buys products and services for one main reason, which is to

Correct AnswerverifiedShow Answer

When the Federal Aviation Administration (FAA) purchases radar systems for 22 major air traffic control centers in the U.S., it is operating as a(n)

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following types of firms comprises an industrial market?

Correct AnswerverifiedShow Answer

Online buying in organizational markets is prominent because Internet technology

Correct AnswerverifiedShow Answer

When prospective buyers observe the bids of others and decide whether or not to increase the bid price, it is called a(n)

Correct AnswerverifiedShow Answer

When the John Deere Company employs engineers who work full-time with the company's suppliers to improve their efficiency and quality and reduce their costs, it is practicing

Correct AnswerverifiedShow Answer

Explain the differences between independent e-marketplaces and private exchanges.

Correct AnswerverifiedBoth are forms of e-marketplaces. Indepe...View AnswerShow Answer

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

Correct AnswerverifiedShow Answer

-As shown in buying center photo above, an organization's buying center includes individuals who can play one or more of the following roles EXCEPT:

Correct AnswerverifiedShow Answer

List seven organizational buying criteria.

Correct AnswerverifiedKey organizational buying criteria and a...View AnswerShow Answer

Which of these statements regarding organizational buyers is most accurate?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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The five stages of the organizational bu...
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Correct Answer
verified

Correct Answer
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Both are forms of e-marketplaces. Indepe...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Key organizational buying criteria and a...
View Answer

Correct Answer
verified

Correct Answer
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