Podcast
Questions and Answers
Which one of the following is NOT a purpose for which businesses purchase products in a business market?
Which one of the following is NOT a purpose for which businesses purchase products in a business market?
- Use in general daily operations
- Use in marketing to consumers (correct)
- Resale
- Direct use in producing other products
Which one of the following is a characteristic of business markets?
Which one of the following is a characteristic of business markets?
- Simple products
- Unknowledgeable buyers
- Complex products (correct)
- No need for understanding customer needs
Which one of the following is NOT a category of business markets?
Which one of the following is NOT a category of business markets?
- Government
- Consumer (correct)
- Reseller
- Producer
According to the text, how many industry classifications are there in the North American Industry Classification System (NAICS)?
According to the text, how many industry classifications are there in the North American Industry Classification System (NAICS)?
What is the purpose of using NAICS in business marketing?
What is the purpose of using NAICS in business marketing?
How do business orders differ from individual purchases?
How do business orders differ from individual purchases?
What factors do business customers consider when making purchasing decisions?
What factors do business customers consider when making purchasing decisions?
Reciprocity is an agreement between three organizations to buy from each other.
Reciprocity is an agreement between three organizations to buy from each other.
Business customers are often less informed about the products they buy compared to individual consumers.
Business customers are often less informed about the products they buy compared to individual consumers.
The North American Industry Classification System (NAICS) is used to generate comparable statistics among the United States, Canada, and Mexico.
The North American Industry Classification System (NAICS) is used to generate comparable statistics among the United States, Canada, and Mexico.
Business marketers can use NAICS in conjunction with other types of data to determine the number and types of potential customers. This can be done by using state directories, commercial industrial directories, or ______ data services.
Business marketers can use NAICS in conjunction with other types of data to determine the number and types of potential customers. This can be done by using state directories, commercial industrial directories, or ______ data services.
To estimate the purchase potential of business customers or groups of customers, a marketer must find a relationship between the size of potential customers' purchases and a ______ available in industrial classification data, such as the number of employees.
To estimate the purchase potential of business customers or groups of customers, a marketer must find a relationship between the size of potential customers' purchases and a ______ available in industrial classification data, such as the number of employees.
Transactions between businesses and consumers differ in many ways. Business orders tend to be much larger than individual purchases, and they often require considerable marketing time and effort from the ______.
Transactions between businesses and consumers differ in many ways. Business orders tend to be much larger than individual purchases, and they often require considerable marketing time and effort from the ______.
What is the purpose of using NAICS in business marketing?
What is the purpose of using NAICS in business marketing?
What factors do business customers consider when making purchasing decisions?
What factors do business customers consider when making purchasing decisions?
How do business orders differ from individual purchases?
How do business orders differ from individual purchases?
