Test 1- Business Marketing

Business marketing is fundamentally different from consumer goods and services marketing because

• Distribution channels for business products are significantly longer

• Customer relationships for business products tend to be short-term and transactions based

• Organizational buyers do not consumer the products or services themselves

• Customer service plays a smaller role on the distribution of business products

The purchase of goods or services for use by an organization in producing other goods and services, to support the daily operations of the organization, or for resale is called:

• Wholesale marketing

• Business-to-business marketing

• Corporate marketing

• Distribution marketing

Which of the following is NOT a characteristics of business markets?

• The nature of demand

• The buying processes

• The high level of promotion

• The relationships

When one company re-labels a product, and incorporates it within a different product, in order to sell it under its own brand name and offering its own warranty, support and licensing, what is this referred to as?

• Government

• Original equipment manufacturers (OEMs)

• Retailers

• Distributors

organizations that purchase goods and services that are then consumed as part of their production and manufacturing processes are referred to as ....

• Institutions

• Users

• Original Equipment Manufactures (OEMs)

• Distributions

A unique purchase situation in business market that requires considerable effort on the decision maker's part is called:

• A straight rebuy

• A modified rebuy

• A new task buy

• A selective rebuy

Examples of business market items that would usually be purchased as a straight re-buy are

• High quality raw materials

• Heavy duty machinery

• Paper clips and pencils

• Computers

Which of the following is NOT a membership of an organization's decision making unit?

• Initiators

• Users

• Contractors

• Gatekeepers

The function performed by gatekeeper in the company decision making unit is to....

• Supply information to guide the evaluation of alternatives

• Select a supplier and implement the procedures for securing the good and services

• Choose which goods and services will actually be bought

• Control the information that all members of the decision making unit will review

Market segmentation is the process of dividing a market into groups of customers who have similar requirements for a product or service offering

• True

• False