MKTG EXAM 2 Q8

What must the government do when it wants to buy a standard product?

​It sends out a detailed description of the product to qualified bidders

Which of the following is true with respect to buyers in business markets?

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

Use the following to answer the questions. ​ Precision Brake Company is a supplier of brake components to the manufacturers of lawn tractors and 4-wheel ATVs. It also sells its products to independent repair centers, dealers, and other wholesalers in the Northeastern and Southern regions. Precision Brake has done research on the demand for lawn tractors and found that most manufacturers are in the states of Kentucky, Tennessee, and Alabama. Research also shows that most of the dealers who sell directly to individual consumers are in the Midwestern region, while dealers who sell to small business landscaping companies tend to be located in the Northeastern region. Company executives are considering expansion of its distribution to markets in the Midwest. ​ Refer to Scenario 8.2. Given the type of business market in which Precision Brake is currently operating, which group would it be least likely to sell to?

Consumers

Which one of the following countries is not included in the data presented in NAICS?

JAPAN

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

Ben Davideau is assigned by his sales manager to come up with the names and addresses of 20 firms in his territory that have some potential for using sizable quantities of his firm's products. Wanting to be as efficient as possible, Ben looks in

Standard & Poor's Register

St. John's Baptist Church brews fresh coffee for its attendees as part of its hospitality ministry every Sunday. St. John's is a(n) ____________ market for coffee. ​

institutional

When charitable organizations such as the American Cancer Society, Second Harvest Food Bank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers.

institutional

The third stage in the business buying decision process is to

search for products and suppliers

Christy Bridgman is considering the purchase of a new fax machine for her real estate office. She is considering a machine that doesn't have as many functions but is available at a considerably lower price than her current machine. She is engaged in ____ analysis.

value