Moving into e-procurement has many benefits. Which of the following would not be among those benefits?
Student Answer: Aggregating purchasing across departments gains larger volume discounts.
Aggregating purchasing gains centrally negotiated volume discounts.
There is less buying of substandard goods from suppliers not on the approved list.
A smaller purchasing staff is required.
Purchasing gains a significant leverage with top management because of its management team.
Question 2. Question :
________ 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
Question 3. Question :
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
INCORRECT short-term segmentation
:
Question 4. Question :
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 5. Question :
Johnson & Johnson broadened its target market for its baby shampoo to include adults through ________.
countersegmentation
metamarketing
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 8. Question :
All of the following are methods of assessing customer value EXCEPT ________.
direct survey questions
exit interviewing
focus-group value assessment
conjoint analysis
benchmarks
Comments:
Question 9. Question :
A behavioral segmentation method related to the Conversion Model is the Gravity of Decision Spectrum. On the shallow end of the spectrum, consumers seek products and services they think will ________.
Student Answer: make them appear more wealthy than they are
help them save face in publicly visible situations
reinforce their emotional stability
align with their core values and beliefs
save them time, effort, and money
Points Received: 0 of 5
Comments:
Question 10. Question :
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
Points Received: 5 of 5
Comments:
Question 11. Question :
A marketer interested in segmenting a business market based on ________ intends to eventually segment the market based on power structure and purchasing criteria.
situational factors
purchasing approaches
personal characteristics
operating variables
demographic variables
Points Received: 5 of 5
Comments:
Question 12. Question :
As an alternative to reducing price, sellers may handle price-oriented buyers by establishing any of the following purchasing conditions EXCEPT ________.
limiting the quantity that can be purchased
no refunds
no adjustments
no services
no customer advertising
Points Received: 5 of 5
Comments:
Question 13. Question :
According to the VALS segmentation system, ________ are successful, sophisticated, active, “take-charge” people with high self-esteem. Their purchases often reflect cultivated tastes for relatively upscale, niche-oriented products and services.
innovators
thinkers
achievers
experiencers
believers
Points Received: 5 of 5
Comments:
Question 14. Question :
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
Points Received: 5 of 5
Comments:
Question 15. Question :
Which of the following reflects high trust between business sellers and buyers?
Distorted and hidden information
Incentive alignment for seller, not customer gains
Limited or biased product comparisons and advice
Minimal customer education and support
Customers help design products individually and through committees
Points Received: 5 of 5
Comments:
Question 16. Question :
The total demand for many business goods and services is ________ —that is, not much affected by price changes.
derived
fluctuating
accelerated
multiple
inelastic
Points Received: 5 of 5
Comments:
Question 17. Question :
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 18. Question :
Procter & Gamble has many soap brands. One reason for this is that soap users tend to group together in terms of preferences such as bleaching action, softness, stain removal, et cetera. Which of the following preferences pattern would most likely apply to P&G’s method of response to market needs?
Homogeneous preferences
Diffused preferences
Clustered preferences
Psychological preferences
Cultural preferences
Points Received: 5 of 5
Comments:
Question 19. Question :
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
Question 20. Question :
A supplier signs an agreement with a customer that states $350,000 in savings will be earned by the customer over the next 18 months in an exchange for a tenfold increase in the customer’s share of supplies ordered by the customer. This is an example of ________.
solution selling
consultative selling
risk and gain sharing
strategic alignment
demand shifting
