Marketing 3100 quiz 3
Which of the following NAICS codes designates an economic subsector? 33 0 (0 %) Correct Answer 334 5 (100 %) 3346 0 (0 %) 33461 0 (0 %) 334611 0 (0 %)
334
Imagine you are the research director of a major industrial marketing firm. You need to select a NAICS code that defines the most homogeneous group of companies in a particular group of highly competitive companies . Which of the following codes might you use? Correct Answer 7432 2 (66.67 %) 532 0 (0 %) 19 1 (33.33 %) 7 0 (0 %) 999
7432
Stickiness is a measure of a Web site's effectiveness. Correct Answer True 5 (100 %) False
true
The first two digits of a NAICS code designate a major economic sector, such as agriculture or manufacturing. Correct Answer True 5 (100 %) False
true
The role of gatekeeper may be filled by a secretary. Correct Answer True 3 (100 %) False
true
Which of the following is the BEST example of an installation? Correct Answer A baseball stadium 2 (100 %) A checkout counter 0 (0 %) A lifeguard stand 0 (0 %) A file cabinet 0 (0 %) Original artwork
A baseball stadium
Which of the following is the best example of a sale that could only take place in the business market? A professor is purchasing a Mac to use at home 1 (50 %) A music store owner is ordering the newest Elvis Ultimate Live collection DVD for her mother 0 (0 %) A teen is purchasing ring tones to use on her phone 0 (0 %) Correct Answer A librarian is purchasing new books for the school's library 1 (50 %) All of these are examples of business sales 0 (0 %)
A librarian is purchasing new books for the school's library
Copying machines, personal computers, and fax machines are typically classified as _____ because they are not expensive, have short useful lives, and are frequently purchased from local distributors. Correct Answer accessory equipment 5 (83.33 %) mobile equipment 1 (16.67 %) component parts 0 (0 %) processed materials 0 (0 %) supplies 0 (0 %)
Accessory equipment
Which type of business product represents goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment? Correct Answer Accessory equipment 2 (66.67 %) Component parts 0 (0 %) Processed goods 0 (0 %) Supplies 0 (0 %) Intermediate goods
Accessory equipment
The Solar Group, a Mississippi-based mailbox manufacturer, sells mailboxes to contractors who are building mega-subdivisions, to hardware stores, and directly to new homeowners. What kind of products is the Solar Group selling? Business products only 0 (0 %) Correct Answer Both business and consumer goods 2 (100 %) Installations 0 (0 %) Consumer goods only 0 (0 %) Supplies
Both business and consumer goods
Ed Rodney works for the state of Minnesota as a advocate of state growth and development. He devises ways to encourage businesses to relocate to the state. In other words, Rodney is involved in business marketing. He is compiling a list of potential businesses that might be willing to move their operations to Minnesota. Which of the following possible clients should he include in his list? Any family that takes an annual vacation 0 (0 %) Newlyweds 1 (25 %) Families that enjoy hiking 0 (0 %) Correct Answer Companies that have growing sales 3 (75 %) Students on spring break
Companies that have growing sales
Which of the following is the BEST example of an institution market? The federal government 0 (0 %) eBay 1 (33.33 %) Claire's Boutique 0 (0 %) Correct Answer Hillsdale United Methodist Church 2 (66.67 %) Starbucks
Hillsdale United Methodist Church
One segment of the business market has primary goals that differ from the ordinary business goals such as profit, market share, or return on investment. This segment includes many schools, churches, and civic clubs. Which business market is this? Correct Answer Institutions 1 (100 %) OEMs 0 (0 %) Services 0 (0 %) Providers 0 (0 %) Resellers
Institutions
TruColor Printers has purchased a Heidelberg printing press with auto-blanket wash and chilled rollers for $2.2 million. The company will depreciate the value of the printing press over several years. The printing press would be considered: Correct Answer Major equipment 1 (100 %) Component part 0 (0 %) Processed material 0 (0 %) Fabricating item 0 (0 %) Accessory equipment
Major equipment
Which type of business product includes such capital goods as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings? Correct Answer Major equipment 1 (50 %) Raw materials 0 (0 %) Component parts 0 (0 %) Accessory equipment 0 (0 %) Investment goods
Major equipment
_____ is commonplace in business marketing and can sometimes occur over several months. Correct Answer Negotiation 1 (100 %) Need mediation 0 (0 %) Customerization 0 (0 %) Purchase arbitration 0 (0 %) Disintermediation
Negotiation
The government uses a system called NAICS to classify North American business establishments. NAICS stands for: Non-American Industry Classification System 0 (0 %) North and South American Institutional Coding Services 0 (0 %) Non-American Industrial Corporation System 0 (0 %) North American Institution Code System 0 (0 %) Correct Answer North American Industry Classification System
North American Industry Classification System
Southern Fireworks Manufacture Company in Liuyang, China provides fireworks for companies in America such as Premier Pyrotechnics in Richland, Missouri. This means that Southern is a(n): installer of original materials 0 (0 %) demand company 0 (0 %) reseller 0 (0 %) government buyer 0 (0 %) Correct Answer OEM
OEM
Which of the following statements does NOT describe the business market? Correct Answer Organizational buying decisions are usually made independently by a purchasing agent while consumer buying decisions are made jointly. 1 (50 %) Business customers tend to be more geographically concentrated, and customers in consumer markets tend to be more geographically dispersed. 1 (50 %) The channel of distribution is more often direct for business markets than for consumer markets. 0 (0 %) Purchasing by businesses is a more formal process than it is in consumer markets. 0 (0 %) Business marketers tend to have far fewer customers than consumer marketers.
Organizational buying decisions are usually made independently by a purchasing agent while consumer buying decisions are made jointly
_____ is the primary promotional method for the sale of all business products. Direct mail 0 (0 %) Advertising 3 (50 %) Correct Answer Personal selling 3 (50 %) Public relations 0 (0 %) Trade promotions
Personal selling
Kaplan Construction needs a backhoe for a job, so Donna Kaplan decides to lease the equipment from Premier Leasing Services. In this case: Kaplan is the licensee 1 (14.29 %) Premier is the lessee 0 (0 %) Kaplan is the licensor 1 (14.29 %) Correct Answer Premier is the lessor 3 (42.86 %) Kaplan is the lessor 2 (28.57 %)
Premier is the lessor
___ relates to the fact that customers who have made a purchase lately are more likely to purchase again in the near future than customers who haven't purchased for a while. External search traffic 0 (0 %) Effective reach 0 (0 %) Stickiness 0 (0 %) Correct Answer Recency 1 (100 %) Effective frequency 0 (0 %)
Recency
Which of the following means that a firm believes that an ongoing relationship with some other firm is so important that it warrants maximum efforts at maintaining it indefinitely? Amae 0 (0 %) Trust 1 (16.67 %) Relationship quality 0 (0 %) Strategic alliance 2 (33.33 %) Correct Answer Relationship commitment
Relationship commitment
Which of the following statements about the government business market is CORRECT? Only large vendors with annual sales of more than $20 million are authorized to sell to the federal government; small vendors are restricted to the state and local government market. 1 (20 %) The Office of Management and Budget is the federal agency that contracts for all the U.S. government's buying requirements. 0 (0 %) Correct Answer Selling to states, counties, and cities can be less frustrating for both small and large vendors than selling to the federal government. 3 (60 %) The president of the United States must personally authorize all federal government purchases. 1 (20 %) Contracts for government purchases are rarely put out for bid.
Selling to states, counties, and cities can be less frustrating for both small and large vendors than selling to the federal government.
_____ is a measure of a Web site's effectiveness and is calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewed during each visit. Effective reach 0 (0 %) Effective frequency 0 (0 %) Gross rating points 1 (50 %) Interactiveness 0 (0 %) Correct Answer Stickiness
Stickiness
Organon Teknina sells inexpensive equipment to detect Escherichia coli, listeria, or salmonella bacteria in food. The company serves not-for-profit institutions that need to regularly check food quality. Organon Teknina would be LEAST likely to sell to: The Montgomery County school system 0 ( - ) Cincinnati Children's Hospital 0 ( - ) Correct Answer Taco Bell 0 ( - ) A chain of church-sponsored retirement homes 0 ( - ) American Red Cross emergency shelter kitchens
Taco Bell
While consumer and business markets differ in many ways, the volatility of demand for products is about the same for each type of market. True 0 (0 %) Correct Answer False
false
Electric cars will increase the demand for electricity, which will then dramatically increase demand for the equipment needed to provide consumers with the electricity. This dramatic increase is due to the: demand fluctuator principle 0 (0 %) joint demand principle or division effect 2 (50 %) inelastic demand effect 0 (0 %) circumlocution effect 0 (0 %) Correct Answer accelerator principle
accelerator principle
In Japan, reciprocity and personal relationships contribute to the development of: global ventures 1 (25 %) Correct Answer amae 2 (50 %) agricola 0 (0 %) keiretsu 0 (0 %) an independent network of small retailers
amae
Business marketing does NOT include goods and services that: become part of another product 0 (0 %) are used to manufacture other products 0 (0 %) Correct Answer are used for personal consumption 3 (100 %) facilitate the normal operations of an organization 0 (0 %) are acquired for resale
are used for personal consumption
Buyers in the business market tend to _____ than buyers in the consumer market. use reciprocity less 0 (0 %) purchase in much smaller quantities 0 (0 %) buy more products that have a reduced probability of being affected by derived demand 1 (100 %) generate more stable demand trends 0 (0 %) Correct Answer be much more geographically concentrated
be much more geographically concentrated
_____ is the marketing of goods and services to individuals and organizations for purposes other than personal consumption. Secondary marketing 0 (0 %) Interactive marketing 0 (0 %) Correct Answer Business marketing 1 (100 %) High-level marketing 0 (0 %) Industrial marketing
business marketing
All of the following are considered types of business products EXCEPT: raw materials. 0 (0 %) Correct Answer convenience goods 2 (100 %) major equipment 0 (0 %) accessory equipment 0 (0 %) component parts
convenience goods
The largest percentage of B-to-B social media spending goes toward creating: viral videos 1 (20 %) Correct Answer customer community 1 (20 %) podcasts 0 (0 %) blogs 2 (40 %) webinars
customer community
As the demand for VCR players has fallen, so has the demand for blank VHS tapes because the demand for VHS tapes is an example of a(n) _____ demand. joint 2 (100 %) inelastic 0 (0 %) elastic 0 (0 %) fluctuating 0 (0 %) Correct Answer derived
derived
Bàbolina Tetra is a Hungarian company that has genetically created a chicken that is guaranteed to produce uniform brown eggs with strong shells. It breeds and sells young chicks to farmers all over Europe who want to sell eggs in local markets. When consumers began to worry about cholesterol content and stopped eating as many eggs, the demand for the Tetra hen also declined. This would be an example of _____ demand. Correct Answer derived 1 (50 %) elastic 0 (0 %) multiplying 1 (50 %) bundled 0 (0 %) inelastic
derived
Inland Eastex manufactures a heavy paper stock that is used for printing covers for many different types and sizes of consumer magazines. Consumer magazine sales determine how much paper Inland Eastex sells. This is an example of ________ demand. joint 0 (0 %) inelastic 0 (0 %) elastic 1 (100 %) congruent 0 (0 %) Correct Answer derived
derived
The demand for consumer goods often affects the demand for business products. This characteristic of business markets is called _____ demand. elastic 3 (75 %) inelastic 0 (0 %) fluctuating 0 (0 %) Correct Answer derived 1 (25 %) joint
derived
Before toll-free telephone numbers and the Internet were used as commercial tools, fliers usually purchased airline tickets from travel agents. Travel agents no longer receive a commission from the airlines for selling tickets to consumers. This is an example of: reintermediation 0 (0 %) disassociation 0 (0 %) Correct Answer disintermediation 4 (100 %) discrimination 0 (0 %) transference
disintermediation
The elimination of intermediaries such as wholesalers or distributors from a marketing channel is referred to as: Correct Answer disintermediation 1 (100 %) disassociation 0 (0 %) unencumberance 0 (0 %) demarketing 0 (0 %) selective retention
disintermediation
All of the following are current roles of the Internet in business marketing EXCEPT: reduce costs 0 ( - ) Correct Answer eliminate distributors 0 ( - ) build partnerships and alliances 0 ( - ) build and support branding 0 ( - ) integrate online and traditional media
eliminate distributors
A decline in the availability of tungsten will slow production of light filaments, which will in turn reduce the demand for light bulbs. This is an example of fluctuating demand. True 0 (0 %) Correct Answer False
false
Although customer service has in the past been an important factor in business buyer-seller relationships, its importance has been waning in the last decade. True 0 (0 %) Correct Answer False
false
Another commonly used term for accessory equipment is installations. True 1 (25 %) Correct Answer False 3 (75 %)
false
Because formal committees are often established to purchase business products, members of buying centers can be readily identified on formal organizational charts. True 0 (0 %) Correct Answer False
false
If DuPont runs advertisements encouraging people to buy clothing that contains Lycra (a DuPont product), this would be an attempt to influence secondary demand. True 1 (50 %) Correct Answer False
false
Individual producers of raw materials have great flexibility in pricing their products. True 0 (0 %) Correct Answer False
false
NAICS is an industry classification system used by most nations of the world. True 0 (0 %) Correct Answer False
false
OEM stands for operationally efficient marketing. True 0 (0 %) Correct Answer False
false
The government sector (federal, state and local) is a minor segment of the business market True 1 (50 %) Correct Answer False
false
The reseller market is the same as the retailer market. True 0 (0 %) Correct Answer False
false
The single largest business customer in the world is the U.S. retailer Walmart. True 2 (50 %) Correct Answer False
false
Since GE began accepting bids via the Internet, the length of the bidding process in GE's lighting division has been reduced from 21 days to 10. Since requesting the bids is easier, purchasing agents approach more potential vendors. The ability to locate more vendors has lowered the cost of goods by 5 to 15 percent. GE's experience illustrates: how using the Internet decreases competition 0 (0 %) how business marketing is becoming global 0 (0 %) Correct Answer how business marketing is using the Internet to become more efficient 2 (33.33 %) how the use of the Internet has influenced consumer markets to become larger and more powerful than business markets 4 (66.67 %) how the Internet increases efficiency in data exchange
how business marketing is using the Internet to become more efficient
Managers can use the NAICS data to: create a more focused mission statement 1 (33.33 %) eliminate risk 0 (0 %) classify consumer behavior 1 (33.33 %) Correct Answer identify potential new customers 1 (33.33 %) determine purchase motives
identify potential new customers
Although the price of a chemical added to paint to protect surfaces from mold and mildew has almost doubled, the price of paint only rose an average of 5 percent, and the demand for both paint and the chemical that eliminates mold and mildew remained stable. The demand for this chemical is: elastic 1 (25 %) derived 0 (0 %) bundled 0 (0 %) Correct Answer inelastic 3 (75 %) change-resistant
inelastic
An acute shortage of heavy-duty tires is threatening to disrupt operations in mining and construction sites around the world. According to one mine operator, "I've got the coal and market, and I have the trucks to haul the coal, but I don't have the tires. I'd be willing to pay double the price if I could get the tires I need." The demand for heavy-duty tires is: joint 1 (50 %) Correct Answer inelastic 0 (0 %) elastic 1 (50 %) congruent 0 (0 %) derived
inelastic
Due to rapidly rising overhead costs and increases in raw material prices, Framarx Corporation was forced to raise the price of its waxed and coated paper by 35 percent. (The paper is used between frozen hamburger patties to keep the patties from freezing together.) Framarx is the leading manufacturer in this industry, and its competitors will follow suit. While the sales force for Framarx believes the price increase will result in a drop in sales, its marketing manager disagrees because the demand for the waxed and coated paper is more than likely: resistant 0 (0 %) Correct Answer inelastic 3 (100 %) derived 0 (0 %) elastic 0 (0 %) bundled
inelastic
Lanover Manufacturing supplies windshield wiper blades to General Motors and Ford. A sudden jump in the price of rubber and its substitutes has forced Lanover and other wiper blades manufacturers to double the price of the wiper blades. This increase in price has not affected sales volume for wiper blades. The price change did not change demand for windshield wiper blades because demand for this product by business customers is: Correct Answer inelastic 3 (100 %) secure 0 (0 %) bundled 0 (0 %) elastic 0 (0 %) resistant
inelastic
Salt is an important ingredient in many soups produced by Campbell's. If the price of salt rises, Campbell's will not likely reduce the amount of salt it purchases from salt suppliers, because salt is such a crucial ingredient. Therefore, you know the demand for the alt is: resistant 0 (0 %) Correct Answer inelastic 2 (100 %) derived 0 (0 %) elastic 0 (0 %) bundled 0 (0 %)
inelastic
When demand for a product is _____, an increase or decrease in the price of the product will not significantly affect demand for the product. responsive 0 (0 %) elastic 1 (20 %) Correct Answer inelastic 4 (80 %) derived 0 (0 %) bundled
inelastic
Claas is Europe's largest manufacturer of combine harvesters. As farming becomes more professional and more intensive, farmers are buying more sophisticated machines, which Claas can supply. The expensive machines sold by Claas would be examples of: Correct Answer installations 1 (25 %) component parts 0 (0 %) accessory equipment 2 (50 %) processed materials 1 (25 %) minor equipment
installations
Major equipment goods, such as machines, mainframe computers, and buildings are also referred to as: investment goods 0 (0 %) necessity goods 0 (0 %) capital components 1 (25 %) strategic goods 1 (25 %) Correct Answer installations
installations
A product is defined as a business product rather than a consumer good on the basis of its: Correct Answer intended use 3 (100 %) physical characteristics 0 (0 %) price 0 (0 %) distribution method 0 (0 %) tangible attributes
intended use
A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company's production of bicycles. Decreased production in turn reduces Huffy's demand for bicycle seats. This is because the products in this situation have _____ demand. inelastic 0 (0 %) Correct Answer joint 1 (50 %) elastic 0 (0 %) congruent 1 (50 %) derived
joint
Apple iTunes has sold over five billion downloads. Without iTunes the demand for the Apple iPod line of products would be small. Without the musicians there would be no iTunes. A condition of _____ demand exists. bundled 0 ( - ) incremental 0 ( - ) functional 0 ( - ) developmental 0 ( - ) Correct Answer joint
joint
When two or more items are used in combination to produce a final product, they are said to have _____ demand. derived 0 (0 %) inelastic 0 (0 %) Correct Answer joint 4 (100 %) fluctuating 0 (0 %) elastic
joint
Products such as parking garages, mainframe computers, privately owned office buildings, and street-cleaning equipment are depreciated over time rather than expensed in the year they are purchased. These are classified as: processed materials 0 (0 %) accessory equipment 0 (0 %) Correct Answer major equipment 2 (100 %) supplies 0 (0 %) component parts
major equipment
Personal selling is pervasive in organizational markets because: most of the situations involve fairly low cost items 0 (0 %) there are few avenues for effective advertising of organizational goods 1 (33.33 %) organizational salespeople seldom speak the language of their customers 0 (0 %) it is the most inexpensive method of promotion 0 (0 %) Correct Answer many organizational products are complex and require expertise on the salesperson's part
many organizational products are complex and require expertise on the salesperson's part
As a result of the _____, a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to manufacture the consumer product. demand fluctuation principle 3 (75 %) joint demand principle or division effect 0 (0 %) inelastic demand effect 0 (0 %) Correct Answer multiplier effect 0 (0 %) derived force effect
multiplier effect
Caterpillar, Inc., a manufacturer of earthmoving equipment, uses completed drivetrains (engines/transmissions/axles), drivetrain components, electronic controls, hydraulic and electrohydraulic components and systems, cooling systems, and undercarriage track systems produced by other organizations in its manufacturing process. Caterpillar is an example of a(n): fabricator 0 (0 %) installer 0 (0 %) Correct Answer original equipment manufacturer 0 (0 %) product provider 0 (0 %) component network
original equipment manufacturer
According to the text, another commonly used name for producers is: fabricators 1 (50 %) installers 0 (0 %) Correct Answer original equipment manufacturers 1 (50 %) product providers 0 (0 %) component networks
original equipment manufacturers
If a business needs a particular good or service and decides to look among its own customers for a provider of that good or service, the business is: working to create purchase arbitration 0 (0 %) opening itself up to prosecution for illegal activities 0 (0 %) acting unethically 0 (0 %) trying to eliminate derived demand barriers 0 (0 %) Correct Answer practicing reciprocity
practicing reciprocity
A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit. They achieve this goal by using purchased goods and services to make other goods, to become part of other goods, or to facilitate the daily operations of the organization. This group is called the _____ segment of the business market. institution 0 (0 %) reseller 1 (25 %) wholesaler 1 (25 %) Correct Answer producer 2 (50 %) government
producer
Corn refiners buy shelled corn and convert it into a variety of products, including high fructose corn syrup. The refiners then sell the syrup to soda and food product companies for use in foods and beverages. The corn refiners represent the _____ sector of the business market. channel 0 (0 %) reseller 0 (0 %) Correct Answer producer 7 (100 %) government 0 (0 %) distributor
producer
Jif is the best-selling brand of peanut butter in the country. The manufacturer purchases large quantities of peanuts every year to manufacturer its product. This order size is an example of _____ and would give Jif an advantage over other buyers of peanuts. Correct Answer purchase volume 3 (75 %) joint demand 1 (25 %) fluctuating demand 0 (0 %) sales volume 0 (0 %) multiplier effect
purchase volume
General Motors buys engines for use in its vehicles from BorgWarner, which in turn buys many of the vehicles it needs from GM. This is an example of: nested demand 0 (0 %) derived demand 0 (0 %) Correct Answer reciprocity 3 (75 %) elastic demand 1 (25 %) circular buying
reciprocity
_____ occurs when a deli decides to buy its office supplies from a company that regularly buys sandwiches for its employees. Correct Answer Reciprocity 1 (33.33 %) Joint demand 0 (0 %) Elastic demand 0 (0 %) Derived demand 1 (33.33 %) Bidding conformity
reciprocity
In the early 2000s, Levi Strauss invested millions of dollars to develop a website on which they could sell jeans directly to consumers. However, the effort was unsuccessful and the company switched course, announcing that jeans would be sold only through its retailer partners. This is an example of: recency 0 (0 %) Correct Answer reintermediation 1 (50 %) keiretsu 1 (50 %) disintermediation 0 (0 %) reinstatement
reintermediation
The reintroduction of an intermediary between producers and users is called: disintermediation 1 (33.33 %) reinstatement 2 (66.67 %) selective retention 0 (0 %) reestablishment 0 (0 %) Correct Answer reintermediation
reintermediation
Hensley Poultry is a wholesaler that buys poultry food and health products from Provini, Inc., feeding systems from Big Dutchman, Inc. and incubation systems from Copca Corp. Hensley then sells those products to poultry producers and farmers' cooperatives in Iowa. Hensley Poultry could be best classified as a(n): producer 0 (0 %) distribution network 0 (0 %) inventory carrier 0 (0 %) specialty retailer 0 (0 %) Correct Answer reseller
reseller
In the past 24 years, Mothers Work has grown from a small, mail-order catalog business headquartered inside the founder's home, to the world's largest seller of maternity apparel, with nearly 1,600 locations. In terms of the business market, Mothers Work would be best classified as a(n): Correct Answer reseller 2 (40 %) producer 1 (20 %) distribution network 2 (40 %) inventory carrier 0 (0 %) business facilitator
reseller
Businesses that buy finished goods and sell them for a profit are called: inventory carriers 0 (0 %) producers 0 (0 %) distribution networks 0 (0 %) Correct Answer resellers 3 (100 %) business facilitators
resellers
All of the following are demand characteristics of business markets EXCEPT: inelastic demand 0 (0 %) fluctuating demand 0 (0 %) joint demand 0 (0 %) Correct Answer stable demand 0 (0 %) derived demand
stable demand
A cooperative agreement between business firms is a: shared capital contract 0 (0 %) global partner development strategy 0 (0 %) Correct Answer strategic alliance 3 (100 %) joint contract 0 (0 %) comarketing effort
strategic alliance
IBM and Cisco work together to provide banks with the products and services they need to manage their multiple locations. In other words, the two companies have joined in a: retail cooperative 0 (0 %) direct investment venture 1 (33.33 %) transactional relationship 0 (0 %) Correct Answer strategic alliance 2 (66.67 %) synergistic relationship
strategic alliance
Sometimes a _____ is created for the purpose of sharing resources. This was why the Donnelly Corporation, a company that designs, manufactures, and markets automotive parts, joined with Applied Films Laboratory, Inc. to manufacture and supply the world market with display coated glass for liquid crystal displays (LCDs). shared capital contract 0 (0 %) global partner development strategy 0 (0 %) Correct Answer strategic alliance 4 (100 %) cobranding effort 0 (0 %) market cooperative
strategic alliance
NAICS data are helpful for analyzing, segmenting, and targeting markets. The system was developed by: large manufacturers in United States and Mexico that produce similar goods 0 (0 %) Correct Answer the North American Free Trade Agreement partners 4 (100 %) Brazil, Chile, Argentina, Canada, and the United States working together in a joint venture 0 (0 %) the SIC committee 0 (0 %) the U.S. government
the North American Free Trade Agreement partners
Most business marketers emphasize personal selling in their promotion efforts. Correct Answer True 1 (50 %) False
true
A U.S. manufacturer of lighted signs used in amusement parks, at outdoor sports arenas, and for restaurant promotion wants to facilitate its market segmentation and targeting so data about the company are readily available and usable. The best resource for this company to use would be: a large amount of marketing research, including scanner data and focus groups 2 (100 %) other competing firms as a strategic alliance referral service 0 (0 %) the government bidding processes 0 (0 %) Correct Answer the North American Industry Classification System 0 (0 %) derived demand
the North American Industry Classification System
The U.S. government is: not a business market segment 0 (0 %) Correct Answer the world's largest single customer 7 (87.5 %) an organization accounting for over 50 percent of the U.S. gross national product 1 (12.5 %) mainly a military equipment purchaser 0 (0 %) using one centralized purchasing office for the entire government
the world's largest single customer
A keiretsu is a network of interlocking corporate affiliates. Correct Answer True 2 (100 %) False
true
Any firm that purchases goods and services to make a profit by using them to produce other goods is part of the producer segment of the business market. Correct Answer True 4 (100 %) False
true
Business marketers usually have far fewer customers than consumer marketers. Correct Answer True 1 (50 %) False
true
Consumable items that do not become part of the final product are called supplies. Correct Answer True 2 (100 %) False
true
For a product to be called a business product, it must be used to manufacture other products, become part of another product, or aid the normal operations of an organization.
true
If Ford purchased the same number of brakes from NUCAP on a regular basis, it would be participating in a straight rebuy. Correct Answer True 2 (100 %) False
true
Items that are ready for assembly and retain their identities when incorporated into another product are called component parts. Correct Answer True 4 (100 %) False 0 (0 %)
true
DHL maintains a strategic alliance with UPS because it has confidence in UPS's reliability and integrity. This condition is referred to as: Correct Answer trust 2 (100 %) tomo 0 (0 %) commitment 0 (0 %) amae 0 (0 %) reciprocity 0 (0 %)
trust
A keiretsu is a(n): Correct Answer type of strategic alliance commonly found in Japan 1 (100 %) method of business e-commerce found in Asia 0 (0 %) Internet site that offers its customers access to various languages that they can use to conduct their business 0 (0 %) form of relationship marketing that is illegal in the United States 0 (0 %) bribe 0 (0 %)
type of strategic alliance commonly found in Japan