CH 11 MARKETING PROCESSES AND CONSUMER BEHAVIOR

Which of the following is the BEST example of a B2B market transaction?

• (A) A college student buys dorm furniture from an on-campus store.

• (B) A group of teenage girls buy new clothes for the upcoming school year.

• (C) A high-school coach borrows sports equipment from a neighboring school.

• (D) A dentist provides free toothbrushes to patients.

• (E) A chain of ice cream parlors regularly purchases napkins from the same supplier.

Answer explanation

Because A B2B (business-to-business) market transaction involves businesses buying goods or services from other businesses. This scenario involves one business which the ice cream parlor chain buying a product (napkins) from another business (the supplier).

What are B2B buyer-seller situations often based on?

• (A) Frequent and enduring buyer-seller relationships

• (B) Incidental buyer-seller interactions

• (C) Buyers and sellers with limited training

• (D) Short-term buyer-seller relationships

• (E) Commercial buyer-seller networks

Who are the firms who provide goods and services that are used by the purchasing public?

• (A) Services markets

• (B) Industrial markets

• (C) Reseller markets

• (D) Government markets

• (E) Institutional markets

Before products reach consumers, what market, consisting of wholesalers and retailers, do products pass through?

• (A) Services markets

• (B) Industrial markets

• (C) Reseller markets

• (D) Government

• E) Institutional markets

What do organizations use to build relationships among users?

• (A) Institutional marketing

• (B) Web-driven revenue

• (C) Negotiations

• (D) Social networking media

• (E) Reseller relationships

How do marketers best use viral marketing?

• (A) To increase use of social media networks

• (B) To identify needs in the international market

• (C) To promote public relations

• (D) To improve branding

• (E) To foster excitement for stimulating sales

Which of the following is an advantage of using viral marketing and social networking?

• (A) Marketers can reach a wider audience at a lower cost.

• (B) Consumers can post opinions and feedback about products.

• (C) New markets are easier to identify.

• (D) Companies have more control over what the public experiences.

• (E) Companies can respond to and eliminate negative reviews.

When attempting to market a domestic product in an international market, what typically has to happen?

• (A) The product must be priced higher because of currency exchange rates.

• (B) The product must have major redesign work done.

• (C) The home country distribution system must be retrained for the international market.

• (D) The product must have an existing close competitor in the intended market.

• (E) The advertising campaign must be consistent with those used in the home country

How can marketers best develop product promotion in a new, international market?

• (A) Centered on product usage.

• (B) Centered on price and innovation.

• (C) Centered on cultural values and local customs.

• (D) Centered on using a "hard-sell" campaign.

• (E) Centered on home country values and customs.

How can companies reduce the cost and delays involved in entering new international markets?

• (A) By selling items at a loss when determining international pricing.

• (B) By redeveloping the product from scratch to better meet consumer needs in the new market.

• (C) By avoiding the traditional U.S.-based marketing mix.

• (D) By utilizing existing international distribution systems.

• (E) By establishing new and unique promotions for the new market.