MK201 quiz 5

Which of the following statements about buying centers is true? a. Roles in the buying center are specified in the organizational chart of a firm. b. The CEO of an organization is always the decision maker in a buying center. c. An individual's role in a buying center does not change with time. d. All buying centers involve formal participants. e. The buying center is not a fixed and formally identified unit within a buying organization.

e. The buying center is not a fixed and formally identified unit within a buying organization.

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________. a. modified rebuy b. new task situation c. dual distribution system d. exclusive distribution system e. straight rebuy

e. straight rebuy

________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers. a. New task buying b. Systems selling c. Supplier development d. Straight rebuy e. Modified rebuy

b. Systems selling

Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________. a. types of decisions b. derived demand c. market structure d. the decision process e. nature of the buying unit

b. derived demand

During which stage of the business buying decision process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively? a. order-routine specification b. product specification c. general need recognition d. performance review e. proposal solicitation

b. product specification

Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business? a. traditional procurement b. reverse auctions c. extranet links d. trading exchanges e. intranet connections

b. reverse auctions

Which of the following is most likely the final stage of the business buying decision process? a. order-routine specification b. supplier performance review c. proposal solicitation d. problem recognition e. product specification

b. supplier performance review

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process. a. product specification b. problem recognition c. proposal solicitation d. general need description e. supplier search

c. proposal solicitation

When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in ________ between business and consumer markets. a. derived demand b. types of decisions c. nature of the buying unit d. market structure e. the decision process

d. market structure

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________. a. exclusive distribution channel b. dual distribution channel c. new-task situation d. modified rebuy e. straight rebuy

d. modified rebuy