1.The new, more strategically oriented purchasing departments have a mission. Which of the following most accurately describes that mission?
- Make the most profit possible and remain independent of entanglements.
- Approach every purchasing opportunity as means to create interdependency.
- Seek the best value from fewer and better suppliers.
- Outsource the supply function.
- Abandon all strategies except for systems selling and buying.
2.If a marketer is seeking to segment a business market, which of the following variables is generally felt to be the most important?
- Personal characteristics
- Demographic variables
- Situational factors
- Operating variables
- Purchasing approaches
3.Not all attempts to target children, minorities, or other special segments draw criticism. Which of the following is the best illustration of a company (or industry) that seems to be marketing to a target segment in a correct and ethical way?
- McDonald's marketing to inner-city youth
- R. J. Reynolds marketing of the Kool brand
- Colgate-Palmolive's Colgate Junior toothpaste
- The cereal industry's approaches to children
- G. Heileman Brewing's approach to Colt 45 malt liquor
4.When a symphony orchestra targets people who have broad cultural interests, rather than only those who regularly attend concerts, the orchestra is targeting ________.
- market mavens
- strategic segments
- supersegments
- occasion segments
- psychodemographic segments
5.A marketer is interested in segmenting a business market on ________ if the marketer intends to eventually segment the market based on loyalty and attitudes toward risk.
- situational factors
- purchasing approaches
- personal characteristics
- operating variables
- demographic variables
6.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
7.The ________ consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.
- business market
- consumer market
- e-commerce market
- global market
- supplier market
8.If Ampex Support Systems is the single supplier for a local manufacturing company's MRO (maintenance, repair, operating) supplies and needs, Ampex Support Systems is considered as providing ________ for the manufacturer.
- systems buying
- purchasing support
- turnkey logistics
- decision support
- systems contracting
9.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
10.Those who favor localized marketing see national advertising as wasteful because ________.
- it gets too up close and personal with consumers
- it drives up manufacturing and marketing costs by reducing economies of scale
- it magnifies logistical problems
- it fails to address local needs
- all of the above
11.The ________ market consists of schools, hospitals, nursing homes, prisons, and other institutions that must provide goods and services to people in their care.
- vertical
- nonprofit
- spot
- secondary business
- institutional
12. Business buyers are ultimately purchasing solutions to two problems: the organization's economic and strategic problem and ________.
their own personal need for individual achievement and reward
the community's continued health and well-being
the fulfillment of the company's social impact goals
to maximize overall firm performance
none of the above
13.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
14.In ________ marketing, the firm operates in several market segments and designs different products for each segment.
segmented
- undifferentiated
- differentiated
- geodemographic
- niche
15.Webster cautions that ultimately, ________ make purchasing decisions.
- only senior managers
- individuals, not organizations,
- organizations, not individuals,
- third parties
- systems contractors
16. ________ are products such as Kiehl's skin care and Kendall-Jackson wines that are priced between average middle-market and superpremium Old Luxury brands.
- Old Luxury brand extensions
- Accessible superpremium products
- Deluxury items
- Hourglass products
- Masstige goods
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17.Dennis requests his father to buy him a PlayStation® for his birthday. With respect to consumer decision roles, which role is Dennis currently playing?
- initiator
- influencer
- decider
- buyer
- gatekeeper
18. All of the following are methods of assessing customer value EXCEPT ________.
- direct survey questions
- exit interviewing
- focus-group value assessment
- conjoint analysis
- benchmarks
19. There are a series of guidelines for selling to small businesses. Which of the following should NOT be among those guidelines?
- Don't waste their time.
- Do keep it simple.
- Do use the Internet.
- Don't forget about direct contact.
- Do lump small and midsize businesses together for efficiency sake.
20. Volkswagen concentrates on the small-car market and Porsche on the sports car market. These would be examples of what is called ________.
- single-segment concentration
- selective specialization
- product specialization
- market specialization
- full market coverage