Question 1

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

Accepted Answer

A)  gatekeepers
B)  deciders
C)  buyers
D)  influencers
E)  users

Question 2

Although the U.S. Justice Department frowns on __________ because it restricts the normal operation of a free market, it is still legal for two companies to buy one another's products.

Accepted Answer

A)  reciprocity
B)  tying agreements
C)  just-in-time procurement
D)  quid pro quo
E)  supply partnerships

Question 3

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their production capacity?

Accepted Answer

A)  problem recognition
B)  information search
C)  purchase decision
D)  alternative evaluation
E)  post-purchase behavior

Question 4

There are seven commonly used organizational buying criteria. One of them is

Accepted Answer

A)  consumer demand.
B)  longevity.
C)  promotional incentives.
D)  technical capability.
E)  senior management directives.

Question 5

Manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

A)  multinational buyers.
B)  resellers.
C)  organizational buyers.
D)  ultimate consumers.
E)  institutional buyers.

Question 6

Concert Staging Co. provides the stage, roof system, lighting, and sound for outdoor concerts and theatrical events. The number of concert and theater events sponsored by various organizations determines how many times the company is hired to provide its services, which often depends on consumer willingness to buy event tickets. Demand for the services provided by Concert Staging Co. is considered

Accepted Answer

A)  derived.
B)  unitized.
C)  industrial.
D)  applied.
E)  reseller.

Question 7

In a reverse auction, as the number of sellers increases, the price

Accepted Answer

A)  increases.
B)  stays the same.
C)  has no relation to the number of sellers.
D)  decreases.
E)  fluctuates depending on economic conditions.

Question 8

In which type of auction is there an upward pressure on bid prices as more would-be buyers become involved?

Accepted Answer

A)  reverse auction
B)  horizontal auction
C)  vertical auction
D)  diagonal auction
E)  traditional auction

Question 9

All of the following are roles in a buying center except

Accepted Answer

A)  specifiers.
B)  deciders.
C)  buyers.
D)  influencers.
E)  users.

Question 10

Mark manages a small family-owned amusement park. He believes the park can increase its profits if its owners will buy three food concession trailers. Mark has contacted three dealers of such trailers, which come fully customized to user specifications. After receiving three bids, Mark concluded that Century Industries has the best offer. He will present only the Century Industries information to the family tomorrow. What buying center roles does Mark perform?

Accepted Answer

A)  gatekeeper and buyer
B)  decider and user
C)  buyer and decider
D)  influencer and buyer
E)  influencer, gatekeeper, and decider

Question 11

Identify and describe the five roles an individual can play in a buying center.

Accepted Answer

There are five roles an individual can p...

Question 12

The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others is referred to as

Accepted Answer

A)  integrated marketing.
B)  institutional marketing.
C)  business-to-business marketing.
D)  reseller marketing.
E)  organizational marketing.

Question 13

Many companies have broadened their buying objectives to include an emphasis on

Accepted Answer

A)  purchasing from as many vendors as possible to avoid component shortfalls.
B)  purchasing from start-up firms to grow the economy.
C)  diversifying their product lines and brand extensions to reduce the risk of failure for any one item.
D)  pricing freezes to maintain consistent quantities demanded from consumers.
E)  proactively purchasing from minority-owned suppliers and vendors.

Question 14

Liberty Medical Supply is a home delivery service that sells diabetes testing supplies, prescription drugs, and other supplies directly to consumers to assist them in the management of their health-related conditions. Since Liberty Medical does not make any changes to the supplies that it obtains from manufacturers, it would most likely be classified as

Accepted Answer

A)  an industrial service provider.
B)  a health care manufacturer.
C)  an industrial firm.
D)  a reseller.
E)  a government agency.

Question 15

In which type of auction is there a downward pressure on bid prices for the buyer's business as more would-be suppliers become involved?

Accepted Answer

A)  traditional auction
B)  vertical auction
C)  reverse auction
D)  horizontal auction
E)  reciprocal auction

Question 16

Large multistore chain retailers such as 7-Eleven convenience stores, Safeway, and Target use a highly formalized buying center that is referred to as

Accepted Answer

A)  an ad hoc committee.
B)  a buying committee.
C)  a merchandise procurement center.
D)  a purchasing department.
E)  a purchasing control system.

Question 17

Explain the differences between independent e-marketplaces and private exchanges.

Accepted Answer

Both are forms of e-marketplaces. Indepe...

Question 18

Which of these statements regarding organizational buyers is most accurate?

Accepted Answer

A)  Wholesalers and retailers resell the goods they buy without reprocessing them.
B)  Wholesalers and retailers alter the goods they sell to meet the specific needs of their customers prior to resale.
C)  Manufacturers purchase processed goods and resell them to suppliers who in turn resell them to ultimate consumers.
D)  Ultimate consumers can be considered organizational buyers when they purchase in large quantities.
E)  Government agency purchases are more similar to ultimate consumer purchases than they are to wholesalers and retailers.

Question 19

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Accepted Answer

The five stages of the organizational bu...

Question 20

Which of the following characterizes organizational buyer-seller relationships?

Accepted Answer

A)  Purchases are often made after lengthy or complex negotiations.
B)  Purchases are usually of small dollar values.
C)  Short-term contracts are often prevalent.
D)  Reciprocal arrangements are illegal.
E)  Delivery schedules are less important than production capacity.

Exam 6: Understanding Organizations As Customers

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their production capacity?

Correct Answer
verified

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Correct Answer
verified
The five stages of the organizational bu...
View Answer

Many companies have broadened their buying objectives to include an emphasis on

Correct Answer
verified

Large multistore chain retailers such as 7-Eleven convenience stores, Safeway, and Target use a highly formalized buying center that is referred to as

Correct Answer
verified

There are seven commonly used organizational buying criteria. One of them is

Correct Answer
verified

Correct Answer
verified

Which of these statements regarding organizational buyers is most accurate?

Correct Answer
verified

All of the following are roles in a buying center except

Correct Answer
verified

Although the U.S. Justice Department frowns on __________ because it restricts the normal operation of a free market, it is still legal for two companies to buy one another's products.

Correct Answer
verified

In which type of auction is there a downward pressure on bid prices for the buyer's business as more would-be suppliers become involved?

Correct Answer
verified

Correct Answer
verified

Explain the differences between independent e-marketplaces and private exchanges.

Correct Answer
verified
Both are forms of e-marketplaces. Indepe...
View Answer

In which type of auction is there an upward pressure on bid prices as more would-be buyers become involved?

Correct Answer
verified

The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others is referred to as

Correct Answer
verified

Manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy goods and services for their own use or for resale are referred to as

Correct Answer
verified

Identify and describe the five roles an individual can play in a buying center.

Correct Answer
verified
There are five roles an individual can p...
View Answer

Which of the following characterizes organizational buyer-seller relationships?

Correct Answer
verified

Correct Answer
verified

In a reverse auction, as the number of sellers increases, the price

Correct Answer
verified

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

Correct Answer
verified

Exam 6: Understanding Organizations As Customers

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their production capacity?

Correct AnswerverifiedShow Answer

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Correct AnswerverifiedThe five stages of the organizational bu...View AnswerShow Answer

Many companies have broadened their buying objectives to include an emphasis on

Correct AnswerverifiedShow Answer

Large multistore chain retailers such as 7-Eleven convenience stores, Safeway, and Target use a highly formalized buying center that is referred to as

Correct AnswerverifiedShow Answer

There are seven commonly used organizational buying criteria. One of them is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of these statements regarding organizational buyers is most accurate?

Correct AnswerverifiedShow Answer

All of the following are roles in a buying center except

Correct AnswerverifiedShow Answer

Although the U.S. Justice Department frowns on __________ because it restricts the normal operation of a free market, it is still legal for two companies to buy one another's products.

Correct AnswerverifiedShow Answer

In which type of auction is there a downward pressure on bid prices for the buyer's business as more would-be suppliers become involved?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Explain the differences between independent e-marketplaces and private exchanges.

Correct AnswerverifiedBoth are forms of e-marketplaces. Indepe...View AnswerShow Answer

In which type of auction is there an upward pressure on bid prices as more would-be buyers become involved?

Correct AnswerverifiedShow Answer

The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others is referred to as

Correct AnswerverifiedShow Answer

Manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy goods and services for their own use or for resale are referred to as

Correct AnswerverifiedShow Answer

Identify and describe the five roles an individual can play in a buying center.

Correct AnswerverifiedThere are five roles an individual can p...View AnswerShow Answer

Which of the following characterizes organizational buyer-seller relationships?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In a reverse auction, as the number of sellers increases, the price

Correct AnswerverifiedShow Answer

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
The five stages of the organizational bu...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified
Both are forms of e-marketplaces. Indepe...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
There are five roles an individual can p...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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