Questions:
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 tha t can be used in a variety of ways