Marketing Chapter 6 - Esteban Solis

10) Business demand that ultimately comes from the demand for consumer goods is known as __________ demand. A) derived B) negative C) primary D) consumer E) elastic

A) derived

6) The business marketer normally deals with consumer marketer does. A) far fewer but far larger buyers B) far more but far smaller buyers C) negligible customer complaints D) far less fluctuations in demands E) far more elastic demand than the

A) far fewer but far larger buyers

8) In business markets with inelastic demand _______. A) the total demand for products is not much affected by short-term price changes B) buyers are highly sensitive to price changes C) derived demand is absent D) a business purchase usually involves fewer decision participants E) a business purchase usually does not involve a professional purchasing effort

A) the total demand for products is not much affected by short-term price changes

1) The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as ________. A) situational analysis B) business buying process C) business diversification D) business process automation E) lateral expansion

B) business buying process

2) Business buyer behavior refers to the ______. A) buying behavior of consumers who buy goods and services for personal consumption B) buying behavior of the organizations that buy goods and services for Use in the production of other products and services that are sold, rented, or supplied to others C) buying behavior of consumers who rely on small retailers for the regular supply of provisions D) decision process by which business buyers determine which products and services their organizations need to purchase E) strong affinity of businesses for value-for-money deals

B) buying behavior of the organizations that buy goods and services for Use in the production of other products and services that are sold, rented, or supplied to others

3) Which of the following is NOT part of the business market? A) Kruger Group sells interior security systems to resorts. B) A country club buys safety equipment for its swimming pool. C) Maria Theresa shops for her family's groceries at the local Whole Foods store. D) A firm buys laptops from Dell for company salespeople to use when traveling. E) Airmark sells a vinyl printing press to a manufacturer of plastic storage containers.

C) Maria Theresa shops for her family's groceries at the local Whole Foods store.

4) Business markets are similar to consumer markets in that _________. A) the nature of the buying unit is the same for both B) the decision processes involved in both the markets are same C) both involve people who assume buying roles and make purchase decisions to satisfy needs D) both share the same market structure E) the types of decisions are fairly consistent in both the markets

C) both involve people who assume buying roles and make purchase

7) The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of _______________. A) latent B) negative C) inelastic D) derived E) composite

C) inelastic

5) Differences between business markets and consumer markets include ________. all of the following EXCEPT A) nature of the buying unit B) market structure and demand C) number of buyers D) people who make purchase decisions to satisfy needs E) types of decisions and the decision process

D) people who make purchase decisions to satisfy needs

9) A university enrolled 200 graduate students in the Fall of 2015. However, the enrollment rate was only slightly affected following a 12- percent hike in tuition the following fall. This illustrates _________ demand. A) derived B) negative C) highly elastic D) composite E) inelastic

E) inelastic