BUS 312 Chapter 6 Practice Sets

Which of the following statements is not a difference between business markets and consumer​ markets? A. Buyers face more complex buying decisions. B. The buying decision involves more professionals. C. Business demand is a derived demand. D. The buying process is more formalized. E. The market is very small and limited.

Business markets have demand that​ __________. A. does not change for services B. does not change for products C. is elastic D. is rigid at all times E. is inelastic

Which of the following statements regarding the business market is​ correct? A. The business market is not as large as the consumer market in terms of dollars spent and items purchased. B. The business market has more buyers than the consumer market. C. Business buying decisions are less complex than consumer buying decisions. D. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. E. Business marketers normally deal with far fewer but far larger buyers than the consumer marketer does.

What is the nature of demand in business​ markets? A. Demand in business markets does not fluctuate. B. Changes in consumer demand will cause changes in business demand. C. Demand in business markets is elastic. D. Business market demand is independent of consumer market demand. E. Demand in business markets fluctuates less than in consumer markets.

How is the​ business-buying decision process different from the​ consumer-buying decision​ process? A. The​ business-buying decision process is shorter than the​ consumer-buying decision process. B. ​Business-buying decisions are less formal. C. ​Business-to-business marketers do not work as closely with their customers as consumer marketers. D. Business buyers face less complex buying decisions than consumers do. E. ​Business-to-business marketers keep customers by meeting current needs and by partnering with them to help solve their problems.

Which of the following is a​ business-to-business market​ transaction? A. A person buying his or her weekly groceries B. The U.S. government buying supplies for military personnel C. A hospital buying medical supplies D. A family vacationing at Disneyland E. A grocery store buying cereal from​ Kellogg's

A business buying situation in which the buyer reorders something without any modifications is known as a​ __________ A. new task B. modified rebuy C. straight rebuy D. systems solution E. buying center

__________ are members of the buying center who help define specifications and provide information for evaluating alternatives. A. Deciders B. Gatekeepers C. Buyers D. Users E. Influencers

Every Monday a pizzeria places the same order with its supplier for pepperoni. Which type of buying situation does this​ represent? A. A modified rebuy B. A consumer transaction C. A new task situation D. Systems selling E. A straight rebuy

A university is buying notebook computers for its faculty. The​ university's Information Technology department has been asked to provide specifications and recommendations for this purchase. The IT department is playing which role in the​ university's buying​ center? A. Influencer B. User C. Gatekeeper D. Decider E. Buyer

The buying center of an organization consists of​ ________. A. the buying decision process B. the entire buying organization C. economic and technical factors D. the choice of suppliers E. all individuals and units that play a role in the buying purchase decision process

Motives, perceptions and preferences are​ _______ factors than can influence the​ business-buying decision process. A. interpersonal B. economic C. organizational D. cultural E. individual

Developing product specifications follows​ __________ in the business buyer decision process. A. general need description B. performance review C. supplier search D. proposal solicitation E. supplier selection

__________ includes the final order with the chosen supplier or suppliers and lists other required items. A. ​Vendor-managed inventory B. Product specification C. Supplier search D. ​Order-routine specification E. Performance review

__________ is the stage of the​ business-buying decision process that occurs after a problem is recognized and a general need description is developed. A. Supplier selection B. Need recognition C. Performance review D. Product specification E. Proposal solicitation

In which type of buying situation will a buyer usually go through all the stages of the business buying​ process? A. The purchase of a business service B. The purchase of raw materials C. A modified rebuy D. A straight rebuy E. A new​ task-buying situation

Items such as technical​ specifications, quantities, delivery​ times, return​ policies, and warranties are included in the​ ________. A. general need description B. proposal solicitation C. supplier selection D. ​order-routine specification E. product specification

One problem with​ business-to-business e-procurement is that it​ ________. A. reduces purchasing efficiency B. increases the time between order and delivery C. increases paperwork requirements D. increases transaction costs E. can erode​ long-standing customer-supplier relationships

To do​ e-procurement, companies can conduct ​__________​, in which they put their purchasing requests online and invite suppliers to bid for the business. A. company buying site B. extranet link C. intranet link D. trading exchanges E. reverse auctions

The rapidly expanding use of​ e-procurement in​ business-to-business deals provides several​ advantages; however, one of the disadvantages is​ __________. A. it shaves transaction costs B. it pits suppliers against one another C. it helps finds better supply sources D. it reduces time between order and delivery E. it eliminates paperwork

Business-to-business marketers are now using a wide range of digital and social media marketing approaches to​ __________. A. attract new consumer markets B. hire new employees C. engage business customers and manage customer relationships D. search for better products E. promote the use of social media

​__________ have rapidly become the new platforms for engaging business customers. A. Consumer and employee marketing B. Social media and digital marketing C. Traditional and antiquated marketing D. ​Door-to-door and​ in-person marketing E. ​Cold-call and phone marketing

When using digital​ marketing, B-to-B marketers are targeting​ __________ that affect buying decisions for​ __________. A. ​consumers; businesses B. ​individuals; social media C. ​individuals; businesses D. ​businesses; social media E. ​businesses; individuals

In​ B-to-B marketing, digital and social media play an important role in​ __________. A. proposing new businesses B. attracting consumers C. engaging business buyers D. deterring partnerships among businesses E. deterring consumers

Institutional markets are​ __________. A. characterized by considerable documentation B. affected by organizational factors C. characterized by low​ budget, captive patrons D. carefully watched by outside publics E. subject to frequent shifts in procurement personnel

Hospital purchasing agents should prefer​ __________. A. considerable documentation from suppliers B. food vendors with low prices and quality products C. to give contracts to the lowest bidder D. a negotiated contract E. ​open-bid purchasing

Which of the following is an example of an institutional​ buyer? A. Walmart B. The U.S. Navy C. Tenet Healthcare D. Apple E. Proctor​ & Gamble

The U.S. government normally awards contracts to​ ________. A. the supplier with the highest quality item B. foreign suppliers C. the highest bidder D. the supplier with the best reputation E. the lowest bidder

Which of the following statements regarding the institutional market is​ correct? A. Institutional buyers always seek to minimize costs. B. Institutional markets are characterized by low budgets and captive patrons. C. Institutional markets are characterized by large budgets. D. Institutional markets are relatively small. E. Marketers do not recognize the special characteristics and needs of institutional buyers.

Which of the following statements regarding the U.S. government market is​ correct? A. Government buying is based solely on economic criteria. B. The U.S. government market is not affected by environmental factors. C. The U.S. government is the largest buyer of goods and services in the world. D. Government buying is not scrutinized by outside publics. E. Selling to the U.S. government requires no specific knowledge of that market.