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1 Products like office furniture or personal computers are purchased in both the consumer and business
markets. What distinguishes business marketing from consumer-goods marketing is:
a. buyer-seller relationships.
b. market demand.
c. buyer behavior.
3 Market-driven firms spot market changes and react well in advance of their competitors. This
illustrates:
4 If consumers are price sensitive in purchasing a consumer product such as canned soup, the
manufacturer will be price sensitive in purchasing metal cans for the product. Thus, the derived demand
indicates that the demand for metal cans is:
a. elastic.
b. inelastic.
c. growing.
d. stagnant.
e. unpredictable.
5 A stereo manufacturer that buys electronic components for the receivers and speakers that the firm
produces would be classified as:
a. a distributor.
b. a user.
c. an institutional buyer.
your answer: a
feedback: Incorrect.
6 Which of the following statements about business marketing strategy development is(are) true?
a. A marketing strategy that is appropriate for foundation goods may be entirely inappropriate for
entering goods.
b. A marketing strategy that works for foundation goods will usually work for entering goods
because organizational buyers evaluate all industrial goods in the same manner.
c. A marketing strategy that works for entering goods will usually work for facilitating goods.
d. A marketing strategy that will work for consumer products will usually work for products sold
in the business market.
e. Both (b) and (c) are true.
7 What are the three categories that broadly classify business market customers?
8 ________ comprises the particular skills, abilities, and processes an organization has developed to
create and manage close customer relationships.
a. Distinctive capability
b. Customer-linking capability
c. Market-sensing capability
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d. Customer-managing capability
e. Market-managing capability
a. the particular set of benefits that a supplier offers to advance the performance of the customer
organization.
b. all the skills required to identify, initiate, develop, and maintain profitable customer
relationships.
c. the value elements that render the supplier's offering either superior or inferior to the next best
alternative.
d. the value elements with essentially the same performance characteristics as the next best
alternative.
e. none of the above.
10 Some of the products purchased by customers in the business market are the same as those purchased
by ultimate consumers.
True
False
11 Customers in the business market can be broadly classified into three categories: (1) commercial
enterprises; (2) original equipment manufacturers; and (3) government.
True
False
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12 The trends in procurement place a premium on the supply-chain management capabilities of the
business marketer.
True
False
13 Personal selling is more important for supplies than it is for other categories of goods, such as
installations.
True
False
14 Market-driven firms attempt to match their resources, skills and capabilities with particular customer
needs that are not being adequately served.
True
False
15 Points of difference are the value elements with essentially the same performance characteristics as the
next best alternative.
True
False
16 The demand for industrial products is derived from the ultimate demand for consumer products.
True
False
correct: true
your answer: true
feedback: Correct.
17 Relationship marketing centers on all marketing activities directed toward establishing, developing,
and maintaining successful exchanges with customers.
True
False
18 Only raw materials are considered entering goods which become part of the finished product.
True
False
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