Multiple choice questions:
Question 1.1. 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.
Question 2.2. 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
Question 3.3. 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
Question 4.4. 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
Question 5.5. 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
Question 6.6. 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
Question 7.7. 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
Question 8.8. 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
Question 9.9. 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
Question 10.10. 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
Question 11.11. 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
Question 12.12. 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
Question 13.13. 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
Question 14.14. In ________ marketing, the firm operates in several market segments and designs different products for each segment.
segmented
undifferentiated
differentiated
geodemographic
niche
Question 15.15. Webster cautions that ultimately, ________ make purchasing decisions.
only senior managers
individuals, not organizations,
organizations, not individuals,
third parties
systems contractors
Question 16.16. ________ 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
Question 17.17. 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
Question 18.18. All of the following are methods of assessing customer value EXCEPT ________.
direct survey questions
exit interviewing
focus-group value assessment
conjoint analysis
benchmarks
Question 19.19. 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.
Question 20.20. 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