B2B
The contribution of a firm's customer-relating capability to the firm's position of advantage depends on the degree to which the market offers an attractive opportunity.
--
The most successful advertisements directed at business customers tend to focus on:
--
Which of the following factors should be considered when planning an effective trade show communications strategy?
--
Which of the following statements are false regarding Supply Chain Management?
--
Which of the following statements concerning an activity-based cost (ABC) system is(are) correct?
--
Which of the following statements regarding direct mail is incorrect?
--
Transaction exchange refers to foreign exchange payments involving international transactions.
--
Which of the following are interrelated evaluations that are required to design a marketing strategy?
-- (310)
Which of the following are ambitious strategic priorities being pursued by many chief procurement officers?
1. Becoming business partners, not just buyers 2. developing fewer and deeper relationships with strategic suppliers. 3. Emphasizing more just price, including a focus on business outcomes, total cost of ownerships, and the development of long-term value creation
The compensation provided to middlemen should be based on loyalty, length of service, and past years' sales performance.
false?
During the bowling alley phase of the adoption life cycle, the business marketing strategist should:
focus on market segmentations
The element of customer interface that refers to the knowledge captured from customers and the degree to which this information is used to provide enhanced value to the customer is:
fulfillment and support
Individuals who control the flow of information into the buying center are performing the role of:
gatekeeper
Proprietary items are industrial products that are offered only in certain configurations and produced in anticipation of orders.
true
Regression methods of forecasting require considerable historical data to be valid and reliable.
true
Research has shown that the three factors that drive a firm's new product performance are the quality of the firm's new-product-development process, the resource commitments made to new product development, and the new product strategy.
true
Research indicates that manufacturers typically earn a very high percentage of gross profits from the aftermarket, though it accounts for a very much smaller percent of revenue
true
Strong brands have a personality that defines how it might be described if it had human qualities (for example, friendly, confident).
true
The Balanced Scoreboard seeks to turn objectives into goals.
true
The North American Industrial Classification System (NAICS) is an especially valuable source when segmenting the market on the basis of end use.
true
The actual performance by the service provider is of little relevance compared to the customer's perception of the service.
true
The goals of a cost classification system are to properly classify cost data in to fixed and variable components and to properly link costs to the activities causing them.
true
The greatest level of uncertainty confronts firms in judgmental new task situations because of the technical complexity of the product and the difficulty of evaluating the alternatives.
true
The industrial distributor takes title to the products sold but rarely maintains an inventory.
true
The more labor-intensive the service, the less uniform will be the output.
true
The organization of the sales force can be affected by the length of a product line and the nature of buying behavior in each market segment.
true
The rules of thumb approach to setting advertising budgets is not always effective, but it is commonly used because it is easy to implement and managers are familiar with it.
true
The strategy map, when coupled with the measures and targets from the balanced scorecard, provides a valuable framework for the strategist.
true
The value customers assign to a firm's offering can vary by market segment because of how the product will be used.
true
Those individuals who have an important personal stake in the decision will exert more influence than other members of the buying center.
true
Waste reduction, time compression, and flexibility are all goals of supply chain management.
true
Well-known companies, recognized as credible sources, tend to be favored by organizational buyers facing high-risk decisions.
true
When evaluating transportation performance, service consistency is usually more important than average delivery time.
true
When the sales resource opportunity grid indicates a low PCU and a high PCU sales organization strength, the firm should invest a moderate level of sales resources to keep current position strength.
true
While loyal customers are likely to be satisfied, all satisfied customers will not remain loyal.
true
If there is a derived demand for a product which ABC Company sells to XYZ company, ABC's success is very much tied to XYZ's success.
true
Time compression enables supply chain partners to more easily observe and understand the cumulative effect of problems that occur anywhere in the chain and respond quickly.
true
Examples of pricing objectives include:
--
Examples of product measures for efficiency and effectiveness control include which of the following?
--
Hybrid service offerings
--
If competitors are likely to continue to pursue price cutting, the best strategy for the defender is to:
--
In regards to relationship management, social programs can be useful.
--
Social media:
--
The choice of a particular entry mode will also depend on the size of the market and its growth potential.
false?
Problems often plague joint ventures and, as a result, many of them fall short of expectations or are disbanded.
true
Because globalization is upsetting traditional patterns of competition, the rise of material costs, and customer resistance to price increases, the influence of the procurement function is increasing in most organizations.
--
Configuration centers on where each activity is performed, including the number of locations.
--
Generally, manufacturers' reps:
(used when the product is not standard, but is closer to made-to-order)
A key account represents a customer who:
--
An advertising objective must:
--
_____ reveals the links between performing particular activities and the demands that those activities make on the organization's resources.
Activity-based costing
_____ are those attributes that are not typically required but that can ultimately lead to a supplier being selected by a customer over other qualified suppliers.
Add-on benefits
As the risk associated with an organizational purchase decision increases:
After-sale service becomes more important than price.buying center participants will be motivated to invest greater effort throughout the purchase process.product quality becomes more important than price.
_____ techniques have as their objective the determination of a relationship between sales and one or more variables presumed to be related to sales.
causal
Target costing is a customer-oriented approach in which the seller keeps price down so as to help keep the buyer's cost down.
false?
The first stage of the quality movement:
Centers on conformance to standards or success in meeting specifications
_____ features very close information, social, and operational linkages as well as mutual commitments made in expectation of long-run benefits.
Collaborative exchange
_____ involves sourcing a product from a producer located in a foreign country for sale there or in other countries.
Contract manufacturing
_____ are the methodologies and routines companies use to transform competencies, assets, and other inputs in to value for customers.
Core competencies
Which of the following would be classified as foundation goods?
Fixed equipment; buildings and land rights
____________________forces involve job function, past experience, and buying motives of individual decision participants
Individual
_____ is the amount of effort a salesperson desires to expend on each of the activities or tasks associated with his or her job.
Motivation
When purchasing microprocessors from Intel Corporation to be incorporated into Dell's line of personal computers, IBM would be classified as:
OEM
The backbone of channel design is the analysis of objectives, constraints, and channel activities.
false?
Bond Office Products manufactures a diverse array of office supplies and serves the business market. Which of the following characteristics is (are) associated with the marketing strategy for this category of goods?
Personal selling..., company requires..., price may be critical..., (all)
_____ involve the creation of the know-how and know-why of new materials and technologies that eventually translate into commercial development.
Research and development projects
_____ are the most tangible requirements for advantage that enable a firm to exercise its capabilities.
Strategic assets
_____ features a design-to-cost philosophy that begins by examining market conditions.
Target-costing
The customer benefit concept refers to:
The core benefit that the customer will derive from the service.
Companies can use capabilities advantages to:
a & b only
Which of the following statements concerning business market segmentation is(are) true?
a & b only
The use of a goods classification system can be extremely valuable to business marketers because:
a marketing strategy appropriate for one category of goods may be entirely unsuitable for another the physical nature of the industrial good and its intended use by the organizational customer affects the marketing program's requirements.
This mode of international market participation permits a client to require a complete operational system, together with skills sufficient to allow the unassisted maintenance and operation of the system. Once the package agreement is on line, the system is owned, controlled, and operated by the client. This provides an apt description of:
a turnkey operation
Which of the following are forms of differentiation that can be used by business marketers when developing a value proposition?
a. lowest total cost b. complete customer solutions c. product innovation
Which of the following is not one of the criteria for assessing the desirability of a potential market segment?
accountability
A brand mantra is
all of the above
In developing strategic plans, managers who represent the various business functions in the firm often hold different views concerning the best strategic course. Why?
all of the above
In evaluating service quality, customers focus on:
all of the above
In specifying channel alternatives, which of the following issues is(are) involved?
all of the above
Rather than adopting the approach of "one design fits all," the astute marketer matches the strategy to the product and market conditions that surround a particular relationship. Which of the following statements is(are) true?
all of the above
Sales forecast data is used to:
all of the above
Strategies that would be appropriate for an "out" supplier to follow in dealing with a well-satisfied customer in a straight rebuy situation include:
all of the above
The balanced scorecard uses which of the following perspectives to measure firm performance?
all of the above
The decision to outsource business operations to rapidly developing economies is affected by which of the following sets of factors?
all of the above
There is a gravitational pull that moves buyers toward the transactional side of the exchange spectrum because:
all of the above
When a manager is in charge of intangible and heterogeneous services, he/she should develop marketing strategies that:
all of the above
Which of the following are tasks that are performed by channels of distribution?
all of the above
Which of the following performance attributes has research recently shown influences customer satisfaction of business buyers?
all of the above
Functional areas other than marketing directly or indirectly affect which of the following ?
all of the above?
The cost of raw materials such as sheet steel is treated as:
an expense item which is assigned to the manufacturing process
When the buyer is purchasing a company's capability in a particular area, such as maintenance or machine repair, the customer is buying:
an industrial service
Acco Brands (formerly Mead Paper Company) recently purchased a new high-speed paper machine for one of their plants. The new machine is used in manufacturing a special grade of paper at a rate of over 1500 feet per minute. This product would be classified as:
an installation because all machinery is under installation
The composition or functional area representation of the marketing strategy center:
b & c only
The stage in the adoption life cycle where a product gains acceptance from segments within the mainstream market but has yet to achieve widespread adoption is referred to as:
bowling alley phase
Customer interface, core strategy, strategic resources and the value network constitute the ____________________or model.
business concept
Those buying decisions that involve a large set of choice alternatives and pose little uncertainty, and involve buyers actively searching for information, applying sophisticated analysis techniques, and careful consideration of long-term needs are called:
complex modified rebuy
With little or no additional processing, ____ can be installed directly into another product.
component parts
This strategy for the new product development process views product development as a highly uncertain path and speed comes from multiple design iterations, extensive testing, and a powerful leader who can keep the product teams focused. This describes the _____ strategy.
compressed
The final phase of for selecting key accounts:
considers the degree to which transactions with potential customer complement the economics of the seller's business
In the hierarchy of strategies, _____ strategy defines the businesses in which a company will compete, preferably in a manner that utilizes resources to convert distinctive competence into competitive advantage.
corporate
Industrial product lines that are created to meet the needs of one or a small group of customers are defined as:
custom-designed items
Which dimension of the product market definition involves the benefits that are provided to satisfy the needs of the organizational buyers?
customer function
The commonality of intended use make it difficult to distinguish between business and consumer markets.
false
Concerning the allocation of the publication budget among various journals,
depends on their relative effectiveness and efficiency
When AK Steel (formerly 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:
derived demand
A _____ represents a product or service that is not as good as currently available alternatives, but that is typically simpler and less expensive.
disruptive innovation
Developing a bidding strategy is the important first step in planning for competitive bidding.
false?
E-procurement involves a push strategy.
false?
The sales resource grid indicates that a particular territory (planning and control unit) possesses high PCU opportunity but low sales organization strength. This suggests which of the following sales resource assignments?
either direct a high level of sales resources to improve position and take advantage...
The final, and critical, step for managing Business-to-Business advertising is:
evaluating advertising effectiveness
The purpose of annual plan control is to:
examine whether the planned results are being achieved
A finely-tuned market segmentation strategy is critical to success during the tornado phase of the adoption life cycle.
false
A marketing strategy that works well for selling entering goods should be equally successful for facilitating goods.
false
A strategy map provides a visual representation of a firm's critical objectives but fails to cover the cause-and-effect relationships among them.
false
According to the text, "dashboards" are a unique tool designed for use in evaluating strategy performance in the transportation industry.
false
Circulation is the most important criterion in the selection of publications.
false
Competitors are less motivated to react to a new production introduction when the market is experiencing a high rate of growth.
false
Customized, high-technology products-like semiconductor test equipment-fit the transactional exchange category.
false
Examples of possible micro bases of business market segmentation include size, geographical location, and usage rate of buying organizations.
false
For customers with a transactional focus, business marketers should discontinue the use of expensive customer databases and set revenue targets and profit goals.
false
For truly global industries, a firm's position in one country significantly affects its position elsewhere, so a multi-domestic strategy is required.
false
Functional strategy centers on how a firm will compete in a given industry and will position itself against its competitors.
false
In contrast to raw materials, manufactured materials and parts would be classified as capital items.
false
Markets of limited size surrounded by trade barriers may be supplied most cost effectively by using the exporting mode of entry.
false
Members of the buying center are generally in agreement concerning the criteria that should be used in evaluating the merits of alternative suppliers.
false
None of the products purchased by customers in the business market are the same as those purchased by ultimate consumers
false
Qualitative sales forecasting techniques provide a systematic analysis of cause and effect relationships.
false
Relationship commitment exists when one party has confidence in a partner's reliability and integrity.
false
Speed of service is usually more important that service consistency.
false
The four groups of forces that have an impact on organizational buying behavior are environmental, organizational, strategic, and individual.
false
Total revenue will decrease if the price is decreased and demand is price elastic.
false
When supply needs are complex, the buying firm is less likely to opt for a close relationship with a supplier.
false
The second phase of for selecting key accounts:
identifies customer accounts from Phase 1 that have unique support requirements
Which of the following is NOT a personal characteristic used in microlevel segmentation?
importance of purchase
Concerning the management of product innovation, which of the following statements is incorrect? The successful management of product innovation:
is properly characterized as a rational, deliberate, and analytical process
A salesperson's job performance is a function of:
level of motivation, aptitude/ability, and perceptions about role
When organizational buyers have well-defined criteria to apply to the purchase decision, but are uncertain about which suppliers can best fit their needs, they are operating in a stage of _____ problem solving.
limited
Many small or incremental decisions are made during the procurement process that ultimately translate into the final selection of a supplier.
true
The largest proportion of sales handled by industrial channel members is accounted for by:
manufacturers' reps and industrial distributors
The ability of an organization to quickly recognize changes in its market and to anticipate customer responses to marketing programs is referred to as:
market-sensing capability
The ____ is a comprehensive, periodic and systematic evaluation of the firm's marketing operation which analyzes the market environment and the firm's internal marketing activities.
marketing audit
The members of the organization involved in the business marketing decision-making process constitute the _____.
marketing strategy
Concerning segmentation criteria, _____ refers to the degree to which information on the particular buyer characteristic exists or can be obtained.
measurability
The sales resource grid indicates that a particular territory (planning and control unit) possesses low PCU opportunity but high sales organization strength. This suggests which of the following sales resource assignments?
moderate level of sales resources to keep current position strength
The belief by a partner that an ongoing relationship is not so important that it deserves maximum effort to maintain it is referred to as:
none
Please identify the incorrect statement concerning autonomous strategic behavior. Autonomous strategic behavior:
none of the above
____ is composed of at least two dimensions: (1) trust in the product and (2) satisfaction with the customer.
none of these?
Techniques for differentiating products and services include which of the following?
only a & b
A distributor classification, the combination house:
operates in both the industrial and consumer markets
Pine River Equipment has developed a distinctly new product that offers considerable promise. By exploiting the experience effect, management believes that there are opportunities for a substantial reduction in production costs as volume expands. While the market is quite large, there is a strong threat of imminent competition. The firm should likely use:
penetration strategy
Selective _____ is the tendency to accept communication messages consistent with existing attitudes and beliefs.
perception
Key influencers are frequently located outside of the ____________________department.
purchasing
All of the following are potential macro bases of business market segmentation except:
purchasing strategy
_____ involves a partner's belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it.
relationship commitment
When companies want to sell products to consumer and business markets, they have to
reorient their business strategies
Concerning segmentation criteria, _____ concerns the degree to which segments respond differently to different marketing mix elements, such as pricing or product features.
responsiveness
The problem solving approach followed by an organizational buyer in a modified rebuy situation is:
routine
The _____ is the product dimension of service, including decisions about the essential concept of the service, the range of services provided, and the quality and level of the service.
service package
There is a trend toward _____ as a result of increasing technical complexity of products.
specialists
A _____ enables an organization to describe and illustrate its objectives, initiatives, targets, the measures used to assess performance, and the linkages that are the foundation for strategic direction.
strategy map
Concerning segmentation criteria, _____ refers to the degree to which the segments are large or profitable enough to be worth considering for separate marketing cultivation.
substantiality
Which is NOT a requirement in identifying a market segment?
substitutionary
The technique for linking a manufacturer's operations with those of all its strategic suppliers and its key intermediaries and customers to enhance efficiency and effectiveness is called:
supply chain management
Qualitative techniques that can be used for forecasting sales include:
the Delphi model
Planning in the business marketing setting requires more functional interdependence and a closer relationship to total corporate strategy than does planning in the consumer goods sector.
true
Business marketers track customer loyalty and retention because:
the cost of serving a long-standing customers is often far less than the cost of acquiring a new customer
Which of the following statements is false regarding the relationship of the Internet and SCM?
the internet has provided companies the opportunity to increase channel inventories
Concerning speed of service in the logistical system, which of the following is(are) accurate?
the longer the delivery time the more inventory customers must maintain to service their needs
Buying firms prefer a transactional relationship when:
there is a competitive supply market featuring many alternatives supply market is stables
The warehouse circumvents the need for premium transportation (for example, air freight) and costly order processing by keeping products readily available in local markets. Which type of warehousing involves no capital investment and offers the advantage of flexibility--the firm can increase or decrease its use of space in a given market?
third-party
A firm that is able to accomplish production and logistics processes in less time is addressing which of the following supply chain management goals?
time compression
In time series analysis, the _____ component indicates the long-term general direction of the data.
trend
A close examination of a market-driven firm will reveal two important capabilities: market sensing and customer linking.
true
A detailed market research study and a preliminary business/financial analysis is an example of predevelopment proficiency.
true
All business marketing decisions are affected, directly or indirectly, by other functional areas.
true
As a customer adopts JIT purchasing, the typical order size shrinks and more frequent deliveries are required.
true
Buyer-seller relationships that arise for important purchases are the ones that are more likely to involve operational linkages and high levels of information exchange.
true
Buyers seek a close relationship for strategic purchases and employ a more distant arms-length approach in procuring non- strategic items.
true
CRM has improved channel coordination.
true
Changes in business marketing strategy requires corresponding changes in personal selling styles.
true
Compared to centralized buyers, decentralized purchasing units emphasize short-term cost efficiency.
true
Customers in the business market can be broadly classified into three categories: (1) commercial enterprises; (2) government; and (3) institutions.
true
Exporting involves giving up direct control of the marketing program, which often makes it difficult to coordinate activities.
true
Firing a customer may be appropriate if the customer is not profitable, not new, and shows little or no opportunity for learning.
true
For services, capacity is a substitute for inventory.
true
Having a relationship orientation is critical to developing a customer-relating capability.
true
In high-risk foreign markets, firms can reduce their equity exposure by adopting low-commitment modes of entry such as licensing or contract manufacturing.
true
Induced strategic behavior corresponds to deliberate strategies while autonomous strategic behavior gives rise to emergent strategies.
true
Many business marketing strategists believe that firms should focus on product families instead of single products to improve planning.
true
In order to effectively use a solutions perspective, business marketers need to define their unique capabilities and determine how to use them to help customers reduce costs, increase responsiveness, or improve quality.
true?
The Marketing Strategy Center is involved in multifunctional marketing decisions.
true?
A(n) _____ represents the products, services, ideas, and solutions that a business marketer offers to advance the performance goals of the customer organization.
value proposition
Recent research has indicated that the indirect communication effects of advertising include:
word of mouth communications
