Question 1

Capital goods such as large or expensive machines,mainframe computers,blast furnaces,generators,airplanes,and buildings,fall under the category of ____________.

Accepted Answer

A)   accessory equipment
B)   major equipment
C)   processed materials
D)   suppliesE) All of the above
F) A) and C)

Question 2

GoPro is arguably one of the top non-celebrity brands on Instagram.A lot of the content they share is from customers using their products.The GoPro page has over 10 million followers,gets hundreds of thousands of tweets,comments,and shares on every post.This exemplifies the metric of ____________.

Accepted Answer

A)   promotional mix
B)   marketing
C)   engagement
D)   strategyE) C) and D)
F) B) and D)

Question 3

Discuss the importance of customer service in business marketing.

Accepted Answer

Answers will vary.Business marketers are...

Question 4

Which statement is true of deciders in a buying center?

Accepted Answer

A)   They approve of the selection or brand.
B)   They make the final purchase.
C)   They influence the buying decision.
D)   They regulate the flow of information.E) C) and D)
F) B) and C)

Question 5

Fournotts Printing Inc.manufactures and sells photocopiers,printers,and scanners to various corporate offices.This is an example of _____.

Accepted Answer

A)   contract manufacturing
B)   business marketing
C)   licensing
D)   franchisingE) A) and B)
F) C) and D)

Question 6

By pressurizing a supplier to sell products at very low prices,a buyer may,in effect,force the supplier to compromise on the quality of the product.

Accepted Answer

A) True 
 B)False

Question 7

Felista Inc.,a company which deals in dairy products,adheres to a standard of behavior for its employees,and follows certain practices that reflect the moral principles and values held by the company,and guide the conduct of the individuals in the company.Which practice is described in this scenario?

Accepted Answer

A)   Business ethics
B)   Corporate governance
C)   Principles of management
D)   Rules and regulationsE) All of the above
F) A) and B)

Question 8

When negotiating a purchase in business marketing,final contracts are often short and precise.

Accepted Answer

A) True 
 B)False

Question 9

Fresnas Inc.,an oil refinery,buys crude oil and converts it into various products such as gasoline,kerosene,and diesel.Fresnas Inc.then sells these products to other companies or retailers.Based on this information,which segment of the business market is most likely represented by Fresnas Inc.?

Accepted Answer

A)   Resellers
B)   Producers
C)   Distributors
D)   MarketersE) B) and C)
F) A) and C)

Question 10

Explain how business establishments are classified under the North American Industry Classification System (NAICS).

Accepted Answer

Answers will vary.The North American Ind...

Question 11

The use of direct channels in business marketing has increased dramatically in the past decade with the introduction of various Internet buying and selling schemes.

Accepted Answer

A) True 
 B)False

Question 12

NAICS codes can help identify firms that may be prospective users of a supplier's goods and services and the more identical digits in sequence in a code,the more homogeneous the group.

Accepted Answer

A) True 
 B)False

Question 13

The North American Industry Classification System data can be used to:

Accepted Answer

A)   identify opportunities for new product lines.
B)   classify firms according to their number of customers.
C)   classify business establishments all over the world.
D)   identify potential new customers.E) B) and C)
F) B) and D)

Question 14

Which of the following is true of consumers in consumer markets?

Accepted Answer

A)   They often follow the practice of reciprocity.
B)   They tend to buy in larger quantities than business consumers.
C)   They approach purchasing more formally than business buyers.
D)   They normally buy products rather than lease them.E) All of the above
F) None of the above

Question 15

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Accepted Answer

A)   The multiplier effect
B)   Reciprocity
C)   Fluctuating demand
D)   Inelastic demandE) A) and B)
F) C) and D)

Question 16

Which of the following statements is true of relationship marketing?

Accepted Answer

A)   For many suppliers,retaining their current customers has become a secondary focus in relationship marketing.
B)   Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs.
C)   Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers.
D)   Relationship marketing has become more important than before because competition has become more intense.E) All of the above
F) None of the above

Question 17

James,an administrative manager at Seal Inc.,is asked to purchase 100 printers for the firm's office.He contacts a sales representative at Myro Distributors Inc.and places an order for 100 printers.Myro Distributors Inc.purchases the printers from Ink Corp.,a wholesaler,and delivers them to James at his office.In this scenario,Myron Distributors Inc.is most likely to be a(n) _____.

Accepted Answer

A)   producer
B)   retailer
C)   institution
D)   manufacturerE) None of the above
F) B) and D)

Question 18

Which of the following statements is true of business services?

Accepted Answer

A)   They include consumable items.
B)   They include processed items.
C)   Contracting an outside provider doesn't make any sense when it costs less than hiring in-house employees.
D)   They do not become part of a final product.E) B) and C)
F) A) and B)

Question 19

As long as smartphones are manufactured and are in demand,the demand for new apps will never die.This exemplifies ___________ demand.

Accepted Answer

A)   fluctuating
B)   joint
C)   derived
D)   inelasticE) A) and B)
F) B) and D)

Question 20

B-to-B companies use digital marketing to position their businesses as thought leaders and generate sales leads,primarily in the form of ______.

Accepted Answer

A)   communication and orders
B)   banners
C)   content marketing
D)   promotional mixE) A) and B)
F) All of the above

Exam 7: Business Marketing

Explain how business establishments are classified under the North American Industry Classification System (NAICS).

Correct Answer
verified
Answers will vary.The North American Ind...
View Answer

Fresnas Inc.,an oil refinery,buys crude oil and converts it into various products such as gasoline,kerosene,and diesel.Fresnas Inc.then sells these products to other companies or retailers.Based on this information,which segment of the business market is most likely represented by Fresnas Inc.?

Correct Answer
verified

By pressurizing a supplier to sell products at very low prices,a buyer may,in effect,force the supplier to compromise on the quality of the product.

Correct Answer
verified

NAICS codes can help identify firms that may be prospective users of a supplier's goods and services and the more identical digits in sequence in a code,the more homogeneous the group.

Correct Answer
verified

B-to-B companies use digital marketing to position their businesses as thought leaders and generate sales leads,primarily in the form of ______.

Correct Answer
verified

Which of the following is true of consumers in consumer markets?

Correct Answer
verified

Correct Answer
verified

The use of direct channels in business marketing has increased dramatically in the past decade with the introduction of various Internet buying and selling schemes.

Correct Answer
verified

Discuss the importance of customer service in business marketing.

Correct Answer
verified
Answers will vary.Business marketers are...
View Answer

Fournotts Printing Inc.manufactures and sells photocopiers,printers,and scanners to various corporate offices.This is an example of _____.

Correct Answer
verified

As long as smartphones are manufactured and are in demand,the demand for new apps will never die.This exemplifies ___________ demand.

Correct Answer
verified

Correct Answer
verified

Which statement is true of deciders in a buying center?

Correct Answer
verified

Which of the following statements is true of business services?

Correct Answer
verified

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Correct Answer
verified

When negotiating a purchase in business marketing,final contracts are often short and precise.

Correct Answer
verified

GoPro is arguably one of the top non-celebrity brands on Instagram.A lot of the content they share is from customers using their products.The GoPro page has over 10 million followers,gets hundreds of thousands of tweets,comments,and shares on every post.This exemplifies the metric of ____________.

Correct Answer
verified

Which of the following statements is true of relationship marketing?

Correct Answer
verified

Capital goods such as large or expensive machines,mainframe computers,blast furnaces,generators,airplanes,and buildings,fall under the category of ____________.

Correct Answer
verified

The North American Industry Classification System data can be used to:

Correct Answer
verified

Exam 7: Business Marketing

Explain how business establishments are classified under the North American Industry Classification System (NAICS).

Correct AnswerverifiedAnswers will vary.The North American Ind...View AnswerShow Answer

Fresnas Inc.,an oil refinery,buys crude oil and converts it into various products such as gasoline,kerosene,and diesel.Fresnas Inc.then sells these products to other companies or retailers.Based on this information,which segment of the business market is most likely represented by Fresnas Inc.?

Correct AnswerverifiedShow Answer

By pressurizing a supplier to sell products at very low prices,a buyer may,in effect,force the supplier to compromise on the quality of the product.

Correct AnswerverifiedShow Answer

NAICS codes can help identify firms that may be prospective users of a supplier's goods and services and the more identical digits in sequence in a code,the more homogeneous the group.

Correct AnswerverifiedShow Answer

B-to-B companies use digital marketing to position their businesses as thought leaders and generate sales leads,primarily in the form of ______.

Correct AnswerverifiedShow Answer

Which of the following is true of consumers in consumer markets?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The use of direct channels in business marketing has increased dramatically in the past decade with the introduction of various Internet buying and selling schemes.

Correct AnswerverifiedShow Answer

Discuss the importance of customer service in business marketing.

Correct AnswerverifiedAnswers will vary.Business marketers are...View AnswerShow Answer

Fournotts Printing Inc.manufactures and sells photocopiers,printers,and scanners to various corporate offices.This is an example of _____.

Correct AnswerverifiedShow Answer

As long as smartphones are manufactured and are in demand,the demand for new apps will never die.This exemplifies ___________ demand.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which statement is true of deciders in a buying center?

Correct AnswerverifiedShow Answer

Which of the following statements is true of business services?

Correct AnswerverifiedShow Answer

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Correct AnswerverifiedShow Answer

When negotiating a purchase in business marketing,final contracts are often short and precise.

Correct AnswerverifiedShow Answer

GoPro is arguably one of the top non-celebrity brands on Instagram.A lot of the content they share is from customers using their products.The GoPro page has over 10 million followers,gets hundreds of thousands of tweets,comments,and shares on every post.This exemplifies the metric of ____________.

Correct AnswerverifiedShow Answer

Which of the following statements is true of relationship marketing?

Correct AnswerverifiedShow Answer

Capital goods such as large or expensive machines,mainframe computers,blast furnaces,generators,airplanes,and buildings,fall under the category of ____________.

Correct AnswerverifiedShow Answer

The North American Industry Classification System data can be used to:

Correct AnswerverifiedShow Answer

Correct Answer
verified
Answers will vary.The North American Ind...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary.Business marketers are...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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