WorksheetsCh 7 Business Marketing Test
Total questions: 26
Worksheet time: 1hrs 5mins
Which of the following statements is true of business marketing?
a. It refers to the sale of goods and services for the purpose of personal consumption.
b. It deals with products that are used to facilitate an organization's operations.
c. It has long and indirect channels of distribution.
d. It includes selling stationeries to students.
Alba wants to learn how to grow orchids and looks online for a podcast that discusses the correct variety, soil mixture, amount of light needed, and how often to water the plants. This is an example of content marketing because_______.
a. it includes media such as videos, podcasts, webinars, and blog posts
b. it includes materials such as steel or lumber mills and food canners
c. it includes components such as spark plugs and electric motors
d. it includes equipment such as portable drills and microcomputers
Companies selling to business buyers face the same challenges as all marketers of goods and services, including determining __________.
a. the activity of organizing the movement to reach end customers
b. supply chain efficiency
c. the target market and deciding how best to reach it
d. the attractive offers of the products to buyers
Some metrics like awareness, engagement, and conversion are useful for _____.
a. attracting traffic of suppliers to the website
b. just building visibility on social media
c. gauging the pulse of the end customer
d. increasing the success of a social media campaign
Which of the following statements is true of relationship marketing?
a. For many suppliers, retaining their current customers has become a secondary focus in relationship marketing.
b. Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs.
c. Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers.
d. Relationship marketing has become more important than before because competition has become more intense.
A top executive from Toyota sits on the boards of the Tomo Tire Co., which manufactures tires for Toyota automobiles. Toyota and Tomo Tire Company trade with each other whenever possible and work together in product development, finance, and marketing. This is an example of _______.
a. amae
b. keiretsu
c. trust
d. commitment
Taking into consideration business relationships in Japan, which of the following best defines the term amae?
a. It is the feeling of nurturing concern for, and dependence upon, another.
b. It is the lack of motivation among employees in businesses.
c. It is a legal consolidation and collaboration of companies into a single entity.
d. It is the lack of economic competition in the market.
Dell works with software creators such as Oracle and Microsoft to help increase business sales of its servers and their software. This is an example of _______.
a strategic alliance
b. customer relationship management
c. distribution channels
d. social marketing
____ exists when one party has confidence in an exchange partner's reliability and integrity.
a. Amae
b. Trust
c. Keiretsu
d. Commitment
Schools, hospitals, colleges and universities, churches, labor unions, fraternal organizations, civic clubs, foundations, and other so-called nonbusiness organizations are the components of which business market segment?
a. Federal government
b. Producers
c. Institutions
d. State, county, and city government
Dillard's is a chain of department stores that buys clothing at wholesale prices and sells them for a profit. As a retailer, Dillard's is considered to be a _______.
a. reseller
b. producer
c. distributor
d. broker
Honda buys steel, paint, and batteries from suppliers and uses these items to make cars that are sold to the public. Producers like Honda are often called _______.
a. original equipment manufacturers (OEMs)
b. distributors
c. resellers
d. wholesalers
Which of the following statements is a difference between wholesalers and retailers?
a. Wholesalers use purchased goods to incorporate into other products, while retailers seek to achieve goals other than the standard business goals of profit.
b. Wholesalers account for the greatest volume of purchases of any customer category, while retailers buy business products and resell them to business customers.
c. Wholesalers sell mostly to retailers and other organizational customers, while retailers sell mainly to final consumers.
d. Wholesalers are often known as original equipment manufacturers, or OEMs, while retailers are often known as buying centers.
Which of the following statements is true of the North American Industry Classification System (NAICS)?
a. The system, developed jointly by the United states, Russia, and Mexico, provides a common industry classification system.
b. The geographic dispersion of firms cannot be identified with the help of NAICS.
c. The more digits in an NAICS code, the more homogeneous the group.
d. Each classification is relatively heterogeneous in terms of raw material required, components used, and manufacturing processes employed.
The NAICS (North American Industry Classification System) is a valuable tool for business marketers engaged in analyzing, segmenting, and targeting markets in which each classification group is relatively homogeneous in terms of _______.
a. location, type of product manufactured, and problems faced
b. raw materials required, components used, manufacturing process employed, and problems faced
c. location of the firm, suppliers of raw materials, output of the company, and problems faced
d. raw materials, location, product manufactured, and manufacturing process applied
Dion has an auto repair business for high-end cars like a Porsche or Ferrari. He wants to market his services to Porsche, BMW, and Ferrari owners in his community of Midland, Texas. Right now, car owners have to drive to Lubbock, Dallas, or Austin to get their cars serviced. Dion should consult The North American Industry Classification System for data that can be used to _______.
a. identify opportunities for new product lines
b. classify firms according to their number of customers
c. classify business establishments all over the world
d. identify potential new customers
If the Sampson Company, a supplier of wood, understands the needs and requirements for wood for a few firms within a NAICS classification, then the Sampson Company can project the needs and requirements for wood for all firms in that category. This example shows that NAICS information can be used for all of the following EXCEPT _______.
a. market potential estimates
b. market share estimates
c. sales forecasts
d. customer service
Which of the following is true of leasing?
a. Businesses normally buy products rather than lease them, even they are very expensive.
b. Leasing allows firms to reduce capital outflow, acquire a seller's latest products, receive better services, and gain tax advantages.
c. Use of leasing is not encouraged in business markets.
d. Manufacturers do not use leasing in their businesses.
As long as smartphones are manufactured and are in demand, the demand for new apps will never die. This exemplifies _______ demand.
a. fluctuating
b. joint
c. derived
d. inelastic
Which of the following is true regarding the number of customers in business markets?
a. Business marketers have many more customers than consumer marketers.
b. It is a lot easier for business marketers to identify prospective buyers, monitor current customers' needs, and levels of satisfaction.
c. It becomes impossible for business marketers to attend to each customer in their markets.
d. The main advantage for business marketers is that each customer becomes crucial.
_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.
a. The multiplier effect
b. Reciprocity
c. Fluctuating demand
d. Inelastic demand
Outside providers who perform janitorial, advertising, legal, management consulting, marketing research, and maintenance are examples of _______.
a. business supplies
b. component parts
c. users
d. business services
With regard to business products, which of the following statements is true of major equipment?
a. It is generally marketed by local industrial distributors.
b. It is sold through a longer distribution channel than accessory equipment.
c. It is often custom designed for each customer according to requirements.
d. It is less expensive and shorter lived than accessory equipment.
Which of the following statements is true of business services?
a. They include consumable items.
b. They include processed items.
c. Contracting an outside provider doesn't make any sense when it costs less than hiring in-house employees.
d. They do not become part of a final product.
Quality, service, and price are three important components of _______.
a. evaluative criteria
b. business ethics
c. buying centers
d. customer service
Discuss the importance of customer service in business marketing. In regards to business marketers , customer satisfaction and levels of service.
