Business Marketing Management B2B 11th Edition by Hutt Test Bank

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Business Marketing Management B2B 11th Edition by Hutt Test Bank

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IM Part 3: Exam Questions: MC, TF, SA, Essay

Chapter 1A Business Marketing Perspective

MULTIPLE CHOICE

1. The business market consists of the following three components:
a. commercial enterprises, resellers, and government.
b. manufacturers, institutions, and defense.
c. manufacturers, service organizations, and government.
d. commercial enterprises, service organizations, and government.
e. commercial enterprises, institutions, and government.

ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

2. Concerning manufacturing customers, the business market is:
a. concentrated by size.
b. geographically concentrated.
c. experiencing declining growth in many large metropolitan areas.
d. all of the above.
e. (a) and (b) only.

ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

3. Based on the volume of their purchases, _____ are the most important commercial customers in the business or industrial market.
a. construction companies
b. manufacturers
c. transportation companies
d. service firms (e.g., hotels)
e. health care facilities

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business function
4. Market-driven firms demonstrate:
a. the coordinated use of interfunctional resources (for example, research and development, manufacturing).
b. a set of values and beliefs among employees that places the customers interests first.
c. the ability to generate, disseminate, and productively use superior information about customers and competitors.
d. all of the above.
e. (b) and (c) only.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

5. Market-driven firms spot market changes and react well in advance of their competitors. This illustrates:
a. the customer-linking capability of market-driven firms.
b. the value proposition of market-driven firms.
c. the market-sensing capability of market-driven firms.
d. the value of using direct channels of distribution in the business market.
e. both (b) and (c).

ANS: C PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

6. The particular skills, abilities, and processes that an organization has developed to manage close customer relationships are referred to as:
a. the customer-linking capability.
b. channel management.
c. derived demand.
d. the market-sensing capability.
e. the extended enterprise.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer | R&D Managing decision-making processes

7. The ability of an organization to quickly recognize changes in its market and to anticipate customer responses to marketing programs is referred to as:
a. market research capability.
b. customer-linking capability.
c. competitive intelligence.
d. market-sensing capability.
e. derived demand.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer | R&D Managing decision-making processes

8. Motorola reduced the price of the electronic engine control that it sells to Ford by 10 percent and experienced a 15 percent increase in quantity demanded. This suggests that Fords price elasticity of demand is:
a. elastic.
b. inelastic.
c. neither elastic nor inelastic.
d. insensitive to price changes.
e. none of the above.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Pricing | R&D Knowledge of general business functions

9. Dayco increased the price of the drive belts that it sells to General Motors by 5 percent and sales of the item grew by 9 percent. Price elasticity of demand for drive belts appears to be:
a. elastic.
b. inelastic.
c. neither elastic nor inelastic.
d. sensitive to price changes.
e. none of the above.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Pricing | R&D Knowledge of general business functions

10. A diverse array of organizations make up the business market. These organizations can be broadly classified as:
a. commercial enterprises, governmental organizations, and institutions.
b. commercial enterprises, users, and governmental units.
c. commercial enterprises, users, and original equipment manufacturers.
d. producers and resellers of industrial products or services.
e. upstream suppliers, users, and governmental units.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

11. When purchasing a high speed packaging machine, General Foods would be classified as:
a. an original equipment manufacturer.
b. a user.
c. a distributor.
d. a dealer.
e. an institutional buyer.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

12. Concerning the chain of suppliers involved in the creation of a Honda automobile, which of the following fall within the business marketing domain?
a. Honda purchasing power steering components from direct suppliers.
b. Direct suppliers of power steering systems purchasing sheet metal from upstream suppliers.
c. Organizations purchasing Honda automobiles for their fleets.
d. all of the above.
e. (a) and (b) only.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Distribution | R&D Knowledge of general business functions

13. Which of the following transactions fall into the business marketing domain?
a. Ford purchasing machine tools for their plants from Cincinnati Milacron.
b. Ford selling their automobiles to the fleet manager at Cincinnati Milacron for use by the sales force.
c. Ford purchasing power-steering systems from Motorola for use in a particular model.
d. all of the above.
e. (a) and (c) only.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Distribution | R&D Knowledge of general business functions

14. When purchasing machine tools for their plants, American Honda is:
a. an original equipment manufacturer.
b. a user.
c. a distributor.
d. an institutional buyer.
e. an upstream supplier.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

15. Concerning the classification of customers in the business market, General Motors is a(n) ____ when purchasing a mainframe computer system from IBM, but is a(n) ____ when purchasing tires from Goodyear.
a. user; original equipment manufacturer (OEM)
b. user; distributor
c. original equipment manufacturer (OEM); user
d. user; upstream supplier
e. original equipment manufacturer (OEM); downstream supplier

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

16. As an industrial customer, Ford Motor Company would be classified as:
a. a user.
b. an original equipment manufacturer (OEM).
c. a user in purchasing some products, an OEM in purchasing other products.
d. a producer of facilitating goods.

ANS: C PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

17. When purchasing microprocessors from Intel Corporation to be incorporated into Dells line of personal computers, IBM would be classified as:
a. a user.
b. an original equipment manufacturer (OEM).
c. an institutional buyer.
d. a dealer.
e. a distributor.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

18. When purchasing manufacturing equipment from General Electric, Chrysler would be classified as:
a. a user.
b. an original equipment manufacturer (OEM).
c. an institutional buyer.
d. a dealer.
e. a distributor.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

19. When Armco Steel realizes a drop in the demand for steel as a result of a decline in ultimate consumer demand for automobiles, this illustrates the concept of:
a. derived demand.
b. connector demand.
c. linked demand.
d. reflection demand.
e. evoked demand.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

20. The method of classifying industrial goods into meaningful categories in the business market centers on this question:
a. How does the industrial good enter the production process and the cost structure of the firm?
b. How much effort are organizational buyers willing to exert in purchasing this industrial good?
c. Will organizational buyers purchase this industrial good from a distributor or directly from a manufacturer?
d. What is the weight and unit value of the industrial good?
e. How many product alternatives are organizational buyers willing to consider before making a choice?

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

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