mktg ch 8

Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects periodically. This practice is an example of

reciprocity

Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets.

reseller

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?

reseller

A Pillsbury mill in Utah buys grain from growers in the western region. The purchasing agent for Pillsbury will most likely use which buying method?

sampling

Which of the following would be considered an institutional buyer?

The united way

In a buying center, purchasing agents or purchasing managers are also known as

buyers

Goodyear is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Goodyear's tire products is said to be ____ since it depends on the demand for new cars.

derived

The Eagle Pawn Company is a regional business that owns seven pawn stores in the Houston area. The owners of Eagle Pawn have recently purchased a new software system designed to better track their inventory. Now that they have had the system for a couple of months, they have decided to upgrade to a newer version. The original purchase is an example of a(an) ________, while the current purchase will be a(an) _____.

new task, modified rebuy

​When marketing to business customers, marketers have to understand the key characteristics of the business customer, and alter their marketing mix accordingly. For example, a business customer views _________ as the amount of investment necessary to obtain a desired level of return or savings. Moreover, the business customer demand ______________ before buying to be sure their needs are being met with the product.

price, detailed information

Marketers can take advantage of a wealth of public and private data about business customers using various industrial classification systems. However, as with any data, there are limitations associated with industrial classification systems' data. Which of the following is a limitation of industrial classification systems' data?​

​Double counting of sales data may occur when products are shipped between two divisions within the same organization.