1. In ________ marketing, the firm operates in several market segments and designs different products for each segment.
- segmented
- undifferentiated
- differentiated
- geodemographic
- niche
2. In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and ________.
- company's objectives and resources
- the product to be sold
- the purchasing process
- competition's strategies
- the global nature of the product
3. In principle, business buyers seek to ________ in relation a market offering's costs.
- spread risks
- obtain the highest benefit package
- maintain everyday low prices
- outsource as much as is possible
- eliminate partners' shares in profits as much as possible
4. ________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.
- The buying center
- The marketing sales team
- Strategic management
- Engineering support
- The logistics center
5. All of the following are methods of assessing customer value EXCEPT ________.
- direct survey questions
- exit interviewing
- focus-group value assessment
- conjoint analysis
- benchmarks
6. Webster cautions that ultimately, ________ make purchasing decisions.
- only senior managers
- individuals, not organizations,
- organizations, not individuals,
- third parties
- systems contractors
7. Johnson & Johnson broadened its target market for its baby shampoo to include adults through ________.
- countersegmentation
- metamarketing
- undifferentiated marketing
- product specialization
- single-segment concentration
8. If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment.
- user status
- usage rate
- buyer-readiness stage
- occasion
- benefit
9. When buyers cannot easily monitor supplier performance, the supplier might shirk or cheat and not deliver the expected value. ________ is "some form of cheating or undersupply relative to an implicit or explicit contract."
- Institutional sale
- Opportunism
- Business buying
- Vertical integration
- Contractual transactionism
10. Many business buyers prefer to buy a total solution to a problem from one seller. ________ is the correct term for this process.
- Channel consolidation
- Systems buying
- Vertical buying
- Horizontal buying
- Supply buying
11. The total demand for many business goods and services is ________ -that is, not much affected by price changes.
- derived
- fluctuating
- accelerated
- multiple
- inelastic
12. Business markets differ significantly consumer markets in that business markets possess all of the following characteristics EXCEPT ________.
- fewer, larger buyers
- close supplier-customer relationship
- professional purchasing
- inverted demand
- multiple sales calls
13. In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms.
- written proposals
- oral proposals
- e-proposals
- alliance proposals
- global proposals
14. A company can be said to have used ________ if the company distinguished among customers buying on the basis of price, service, and quality.
- macrosegmentation
- microsegmentation
- strategic segmentation
- global segmentation
- short-term segmentation
15. ________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g., dams, pipelines, et cetera).
- Systems contracting
- Systems buying
- Systems selling
- Solutions buying
- Turnkey logistics
16. According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.
- measurable
- substantial
- accessible
- differentiable
- actionable
17. A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task?
- Demographic variables
- Purchasing approaches
- Situational factors
- Personal characteristics
- Operating variables
18. The purchasing department buys office supplies on a routine basis. This type of purchase is classified as a ________.
- straight rebuy
- modified rebuy
- new task
- secondary purchase
- preordained purchase
19. If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern.
- homogeneous
- heterogeneous
- diffused
- clustered
- scattered
20. Marketers usually identify niches by ________.
- dividing a segment into subsegments
- conducting VALS tests
- allowing consumers to gravitate toward product brands
- examining the demographics section of The Handbook of Marketing
- producing products that can be used in a variety of ways