Strategic Relationship Quiz

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Which phase of the relationship development process is characterized by the parties' exchanging of significant resources?

Exploration

Expansion

Commitment (correct)

Attraction

What is the lasting desire to maintain or preserve a valuable, important relationship called?

Norm

Distribution pledge (correct)

Contract

Behavior

In the commitment phase, what happens to the association between the buyer and seller?

The association moves from one of testing and probing to one of enlarging rewards and the scope of exchange (correct)

The parties probe

They may exchange employees in order to fully identify with the trading partner

The supplier may collect information about product specifications, buying process and the like at the prospective customer

Which of the following is NOT a type of MRO item?

Painting contractors Signup and view all the answers

Which of the following is a key raw material for technology-driven companies?

Steel Signup and view all the answers

Compared to individual consumers, business customers are:

More likely to be geographically concentrated Signup and view all the answers

Compared to the typical household buying, the organizational purchasing process:

Arises from implicit negotiation, expertise, and habit Signup and view all the answers

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 Signup and view all the answers

In business marketing, large customer size and use of direct channels increase the importance of:

Negotiation Signup and view all the answers

These members of an organization are specifically responsible for coordinating their company's efforts at satisfying their customers.

Salespeople Signup and view all the answers

Why is the demand for business products dependent ultimately on individual consumers?

Because business markets consume products in the process of making other products Signup and view all the answers

According to the text, what is one of the limitations of online auctions?

Many products and services cannot be fully specified Signup and view all the answers

According to the text, what is the primary concern of a buyer in an auction?

Price Signup and view all the answers

According to the text, what is the value of any system dependent on?

On the identity of the vendors and users Signup and view all the answers

According to the text, what do OEM buyers establish with suppliers to eliminate costly inventories and frequent handling costs?

JIT relationships Signup and view all the answers

Which stage of the relationship development process is marked by partners adapting and resolving disputes internally in order to sustain the relationship?

Expansion Signup and view all the answers

What is the BEST analogy for a good strategic relationship?

Courtship and marriage Signup and view all the answers

Which term refers to the degree to which the interaction between buyer and seller yields them net payoffs in excess of some minimum level?

Elasticity Signup and view all the answers

What is the belief that a party's word or promise is reliable and a party will fulfill his/her obligations in an exchange relationship called?

Trust Signup and view all the answers

Which of the following is an example of a social objective in government purchasing?

Encouraging the growth of minority-owned businesses Signup and view all the answers

In business markets, products are generally classified based on:

Type of purchaser and reason for purchase Signup and view all the answers

What is an important difference between accessory and capital equipment in marketing?

Capital equipment is much more expensive and involves more members of the organization in the purchasing process Signup and view all the answers

What are products purchased for use in a firm's operations usually called?

MRO items Signup and view all the answers

Which of the following is NOT part of the marketing mix?

Process Signup and view all the answers

Which of the following is a key characteristic of business customers compared to individual consumers?

Are more likely to be geographically concentrated Signup and view all the answers

Which of the following is the correct definition of derived demand?

Demand that results from the demand for customers' products and services Signup and view all the answers

Which of the following is the correct definition of value?

Is the perception of how much the buyer benefited beyond what was invested in a product Signup and view all the answers

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 Signup and view all the answers

In business marketing, large customer size and use of direct channels increase the importance of:

Negotiation Signup and view all the answers

These members of an organization are specifically responsible for coordinating their company's efforts at satisfying their customers.

Middle managers Signup and view all the answers

When a company purchases a product or service to be included in its own final product, the company is called a(n)

Original equipment manufacturer Signup and view all the answers

Which of the following is a social objective in government purchasing?

Environmental objective Signup and view all the answers

In business markets, products are generally classified based on:

Type of purchaser and reason for purchase Signup and view all the answers

What is an important difference between accessory and capital equipment in marketing?

Capital equipment is much more expensive and its purchase may involve more members of the organization than purchase of accessory equipment Signup and view all the answers

Products purchased for use in a firm's operations are usually called:

Component parts Signup and view all the answers

Strategic Relationship Quiz

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Questions and Answers

Which phase of the relationship development process is characterized by the parties' exchanging of significant resources?

What is the lasting desire to maintain or preserve a valuable, important relationship called?

In the commitment phase, what happens to the association between the buyer and seller?

Which of the following is NOT a type of MRO item?

Which of the following is a key raw material for technology-driven companies?

Compared to individual consumers, business customers are:

Compared to the typical household buying, the organizational purchasing process:

Which of the following statements about buyer-seller relationships in business marketing is TRUE?

In business marketing, large customer size and use of direct channels increase the importance of:

These members of an organization are specifically responsible for coordinating their company's efforts at satisfying their customers.

Why is the demand for business products dependent ultimately on individual consumers?

According to the text, what is one of the limitations of online auctions?

According to the text, what is the primary concern of a buyer in an auction?

According to the text, what is the value of any system dependent on?

According to the text, what do OEM buyers establish with suppliers to eliminate costly inventories and frequent handling costs?

Which stage of the relationship development process is marked by partners adapting and resolving disputes internally in order to sustain the relationship?

What is the BEST analogy for a good strategic relationship?

Which term refers to the degree to which the interaction between buyer and seller yields them net payoffs in excess of some minimum level?

What is the belief that a party's word or promise is reliable and a party will fulfill his/her obligations in an exchange relationship called?

Which of the following is an example of a social objective in government purchasing?

In business markets, products are generally classified based on:

What is an important difference between accessory and capital equipment in marketing?

What are products purchased for use in a firm's operations usually called?

Which of the following is NOT part of the marketing mix?

Which of the following is a key characteristic of business customers compared to individual consumers?

Which of the following is the correct definition of derived demand?

Which of the following is the correct definition of value?

Which of the following statements about buyer-seller relationships in business marketing is TRUE?

In business marketing, large customer size and use of direct channels increase the importance of:

These members of an organization are specifically responsible for coordinating their company's efforts at satisfying their customers.

When a company purchases a product or service to be included in its own final product, the company is called a(n)

Which of the following is a social objective in government purchasing?

In business markets, products are generally classified based on:

What is an important difference between accessory and capital equipment in marketing?

Products purchased for use in a firm's operations are usually called:

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