MQ 6
Which of the following statements about buying by intermediaries is true?
Buying committees are a way for retail chains to handle the flood of new products
Buyers with ________ see their role as being "purchasing agents for their target customers."
retailers and wholesalers
A large property management firm buys thousands of gallons of paint from its supplier each year. This year, the firm has asked the supplier to provide low-VOC (eco-friendly) paint. Which of the following describes this situation?
*All these answers are correct.* The management firm changed its criteria for making a purchase decision. The management firm may have added sustainability to its vendor analysis. The management firm is undertaking a modified rebuy. The management firm may have added sustainable values to its mission statement.
Which of the following is an organizational buyer?
*All these answers are correct.* a country club buying tennis balls for a tournament a sporting goods retailer buying skis a law office buying a background music service the Red Cross buying office supplies
Suppliers to business markets often
* All these answers are correct* serve as technical consultants to their customers provide information about industry trends must manage inventory and delivery carefully to provide customers with just in time delivery have to agree to contracts that allow for changes in the purchase arrangements
The Foreign Corrupt Practices Act
* All these answers are correct* allows small grease money payments if they are customary in the foreign country in which a firm is operating. applies to foreign firms or individuals who accept payments while in the United States. prohibits U.S. firms from paying bribes to foreign officials.
Which of the following statements about manufacturers is true?
Industrial customers are concentrated in countries that are at the more advanced stages of economic development.
Which of the following statements about consumer and business markets is true?
It is often easier to define customer needs in business markets.
NAICS stands for
North American Industry Classification System
Which of the following is NOT an example of an organizational buyer?
a sales rep buying a new necktie to make a good impression
The "business-to-business" market (B2B market) is comprised of
all businesses, governments, and nonprofits.
Large wholesale and retail buyers typically
buy most of their products as straight rebuys
Purchasing managers
may be willing to pay more to reduce personal risk.
Natalie Simopoulos, director of procurement at Grecian Glass Company, must approve every purchase order. Anthony Markatos, purchasing manager, must authorize any sales rep who wants to talk to a Grecian Glass employee. Natalie and Anthony are acting as ________ and ________, respectively.
decider; gatekeeper
Which of the following is NOT a key dimension of buyer-seller relationships in business markets?
joint inspection
Creative Electronics has an idea for a new smartphone accessory. Now it is looking for a supplier to design and manufacture the product. It will most likely use ________ buying.
negotiated contract
When a purchasing manager knows roughly what is needed but can't describe it exactly, or when the purchasing arrangement may change as the job progresses, then buying is likely to be by
negotiated contract.
The situation that provides the greatest opportunity for suppliers that don't currently serve a customer to develop inroads with a customer is
new-task buying.
Which of the following is NOT a key dimension of buyer-seller relationships in business markets?
new-task sharing
All of the following are key dimensions of relationships in business markets EXCEPT
non-specific adaptations.
