41 Questions
Which of the following is NOT a valid reason for studying business marketing?
It is the same as consumer marketing
According to the text, how does business marketing differ from consumer marketing?
The Web is not integrated
What is the main characteristic of business marketing compared to consumer marketing, as shown in the example of BASF and Dupont?
Shorter distribution channels
Which one of the following is NOT part of the marketing mix?
Process
What is the percentage change in sales relative to the percentage change in price called?
Demand elasticity
What is the term used for industrial products that have no substitutes?
Inelastic demand
What is the system of value creation also known as?
A value chain
Which of the following statements about buyer-seller relationships in business marketing is TRUE?
Close personal relationships exist between buyer and seller in all industries
In business marketing, large customer size and use of direct channels increase the importance of:
Negotiation
These members of an organization are specifically responsible for coordinating their company's efforts at satisfying their customers.
Salespeople
Why is the demand for business products dependent ultimately on individual consumers?
Because business markets consume products in the process of making other products
Which of the following is a characteristic of business marketing as compared to consumer marketing, as shown in the example of BASF and Dupont?
Lesser emphasis on personal selling
Which of the following is NOT a valid reason for studying business marketing?
It is the same as consumer marketing
What is the main characteristic of business marketing compared to consumer marketing, as shown in the example of BASF and Dupont?
Shorter distribution channels
Which of the following statements about facilitating supplies is TRUE?
Facilitating supplies are materials processed only to the point required for economic handling and distribution
Which category do janitorial products, painting contractors, plumbing services, and heating and air conditioning services fall under?
MRO items
What is a key raw material for technology-driven companies?
Steel
Compared to individual consumers, business customers are more likely to be geographically
concentrated
Which of the following is NOT a type of customer that purchases products for consumption?
Original equipment manufacturers
What is the term used for a company that purchases products or services to be included in its own final product?
Original equipment manufacturer
Which of the following statements about buyer-seller relationships in business marketing is TRUE?
Close personal relationships exist between buyer and seller in all industries
Why do government agencies tend to have complex purchasing processes?
Often designed to accomplish social objectives
Which of the following is an example of a social objective that influences government purchasing?
Encouraging the growth of minority-owned businesses
In business markets, how are products generally classified?
Based on the type of purchaser and reason for purchase
What is the term used to describe products that have been transformed from raw materials and require further processing before use?
Manufactured material
What is the term used to describe parts that may be assembled into a final product without further processing?
Manufactured materials
Which of the following is a characteristic of business marketing as compared to consumer marketing, as shown in the example of BASF and Dupont?
Shorter distribution channels
What is the term used to describe products that have been transformed from raw materials and require further processing before use?
Intermediate goods
Which of the following is NOT a valid reason for studying business marketing?
It is the same as consumer marketing
Which of the following is NOT part of the marketing mix?
Process
What is the term used for industrial products that have no substitutes?
Inelastic demand
What is the percentage change in sales relative to the percentage change in price called?
Demand elasticity
What is the system of value creation also known as?
A value chain
Which of the following is an example of a social objective that influences government purchasing?
Environmental objective
In business markets, how are products generally classified?
Type of purchaser and reason for purchase
What is the term used to describe parts that may be assembled into a final product without further processing?
Manufactured materials
Which of the following is an important difference between accessory and capital equipment when it comes to marketing the equipment to users?
Capital equipment is much more expensive and its purchase may involve more members of the organization than purchase of accessory equipment
Which of the following statements about buyer-seller relationships in business marketing is TRUE?
Close personal relationships exist between buyer and seller in all industries
In business marketing, large customer size and use of direct channels increase the importance of:
Negotiation
These members of an organization are specifically responsible for coordinating their company's efforts at satisfying their customers.
Salespeople
Why is the demand for business products dependent ultimately on individual consumers?
Because business markets consume products in the process of making other products
Test your knowledge on policies that influence government purchasing and the objectives they serve in the business world. Also, identify the types of customers that provide services similar to wholesalers and retailers of consumer goods.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
