Practice Quiz 8

An accountant who purchases software for maintaining clients' books is an example of a buyer in a(n)____ market. A) consumer B) producer C) reseller D) government E) institutional

B) producer

Which of the following is true with respect to buyers in business markets? A) Business buyers always act rationally when making purchases for their company. B) Business customers tend to be less informed about the products they purchase than consumer buyers. C) Business customers demand detailed information about a product's functional features and technical specifications. D) Business customers are no different than buyers in consumer markets. E) Business customers tend to buy products from their friends and contacts with business suppliers.

C) Business customers demand detailed information about a product's functional features and technical specifications.

When buying materials, the purchasing agent for Alco Pillow Manufacturing Company considers a variety of factors. Which one of the following is least likely to concern this buyer? A) Does the quality of the goods meet company specifications? B) Does the supplier consistently deliver on time? C) Does the supplier also sell to my competitors? D) Does the supplier offer the services required? E) Does the price meet company budget requirements?

C) Does the supplier also sell to my competitors?

After deciding to order replacement parts for aging machinery, the buyer for a construction company examines catalogs and trade publications looking for these parts. The buyer is at which stage in the business buying decision process? A) Problem recognition B) Product specification C) Product-supplier search and evaluation D) Product-supplier selection E) Product-supplier post-evaluation

C) Product-supplier search and evaluation

Perry Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of its sales compensation package. For Perry Supply, these vehicles would represent a ____ purchase. A) modified rebuy B) straight rebuy C) new-task D) reevaluated E) repetitive

C) new-task

Business markets are typically divided into four categories. These categories are Question 1 options: A) retailers, wholesalers, services, and nonprofit firms. B) producer, manufacturer, reseller, and government. C) producer, reseller, government, and institutional. D) manufacturer, wholesaler, retailer, and services. E) reseller, retailer, government, and institutional.

C) producer, reseller, government, and institutional.

The United States Navy purchases uniforms from a single supplier. For the last twenty-five years, the trousers purchased from this supplier have not changed and have been bought every six months, in seven different sizes. This example is called a A) new-product purchase. B) repetitive purchase. C) straight rebuy. D) modified rebuy. E) standard order.

C) straight rebuy.

Your university has decided to purchase new computers for all of the computer labs on campus. Typically, the purchasing agent negotiates with manufacturers and makes the decision on what to buy. However, for this purchase he has asked members of the computer science department to give input on the purchase decision. In this instance, the student senate would be acting as a(n) ____, while the purchasing agent is a(an) ______. A) user; buyer. B) user; gatekeeper. C) user; decider. D) influencer; decider. E) influencer; gatekeeper

D) influencer; decider.

Individual influencing factors refer to A) relationships among those in the firm's buying center. B) uncontrollable environmental forces. C) the power an individual controls in the buying center D) personal characteristics of individuals in the buying center. E) activities of suppliers.

D) personal characteristics of individuals in the buying center

Institutional markets are A) intermediaries who resell goods to make a profit. B) federal and state government units. C) state or local government units. D) consumers who buy products for their own use. E) organizations that seek nonbusiness goals.

E) organizations that seek nonbusiness goals.