Question 1

Another name for an e-marketplace is

Accepted Answer

A)  an e-hub.
B)  an E-place.
C)  an e-trade.
D)  an E-xchange.
E)  a 4NXchange.F) All of the above
G) C) and E)

Question 2

The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers is referred to as

Accepted Answer

A)  buyer development.
B)  a supply partnership.
C)  a make-buy decision.
D)  supplier development.
E)  buyer-seller reciprocity.F) C) and D)
G) C) and E)

Question 3

The reseller market includes

Accepted Answer

A)  manufacturers.
B)  logistics and supply chain providers.
C)  government agencies.
D)  end-user service providers.
E)  retailers and wholesalers.F) A) and C)
G) B) and C)

Question 4

A supply partnership refers to

Accepted Answer

A)  an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors.
B)  the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer.
C)  when a supplier requires a buyer purchasing some products from it to also buy others.
D)  a relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost of or increasing the value of products and services delivered to the ultimate consumer.
E)  the practice whereby a seller requires the purchaser of one product to also buy another item in the line.F) A) and B)
G) All of the above

Question 5

Important market characteristics in organizational buying behavior include which of the following?

Accepted Answer

A)  unlimited markets but orders become progressively smaller over time
B)  diminishing international opportunities as more firms enter the market
C)  many customers placing progressively larger orders over time
D)  fewer customers but with larger orders
E)  a market that functions independently of consumer demandF) A) and B)
G) C) and D)

Question 6

______________ in some way reprocess a product or service they buy before selling it again to the next buyer.

Accepted Answer

A)  Transactional markets
B)  Corporate markets
C)  Government marketers
D)  Reseller marketers
E)  Industrial firmsF) A) and D)
G) A) and E)

Question 7

Important buying process characteristics in organizational buying behavior include which of the following?

Accepted Answer

A)  Few large transactions are made over the Internet due to concerns of industrial espionage.
B)  Negotiations, purchases, and delivery occur in real time at an accelerated rate.
C)  There are often reciprocal arrangements and negotiations between buyers and sellers.
D)  Most purchases are made through government-licensed negotiators.
E)  Direct selling to organizational buyers is rare because it is cost-prohibitive.F) A) and B)
G) D) and E)

Question 8

When Trek orders a seat or saddle for one of its models that has a slightly different material for the cover only but the other components are the same as existing saddles used on other bikes, this purchase situation is known as a

Accepted Answer

A)  new buy.
B)  straight rebuy.
C)  standard reorder.
D)  modified rebuy.
E)  make-buy.F) C) and D)
G) A) and C)

Question 9

The North American Industry Classification System (NAICS)  designates industries with a numerical code in a defined structure. A six-digit coding system is used. The third digit designates

Accepted Answer

A)  an industry subsector.
B)  an industry group.
C)  a specific industry.
D)  an individual country-level national industry.
E)  a sector of the economy.F) B) and C)
G) A) and B)

Question 10

The first stage in the organizational buying decision process is

Accepted Answer

A)  information search.
B)  antecedent states.
C)  alternative evaluation.
D)  purchase decision.
E)  problem recognition.F) A) and B)
G) B) and D)

Question 11

Organizational buying criteria refer to

Accepted Answer

A)  the restrictions placed on potential solutions to a problem in a purchase decision.
B)  the specific qualifications of a potential customer based upon past performance, reliability, and consistency regarding the purchase of an organization's offerings.
C)  the subjective attributes of the supplier's products and services and the capabilities of the supplier itself.
D)  the objective attributes of the supplier's products and services and the capabilities of the supplier itself.
E)  the factors that an ultimate consumer would consider that represent both the objective attributes of a brand and the subjective ones to compare different products and brands.F) A) and B)
G) B) and E)

Question 12

What type of online auction does one seller and many buyers typify?

Accepted Answer

A)  forward auction
B)  reverse auction
C)  traditional auction
D)  vertical auction
E)  bidder's warF) B) and C)
G) A) and D)

Question 13

In a buyer-seller relationship, reciprocity refers to

Accepted Answer

A)  the practice whereby a seller requires the purchaser of one product to buy another item in the line.
B)  an industrial buying practice in which two organizations, in this case a manufacturer and a supplier, agree to purchase each other's products and services.
C)  an arrangement a manufacturer makes with a reseller to only handle its products and not those of competitors.
D)  the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer.
E)  when a supplier requires a buyer purchasing some of its products to also buy others.F) A) and E)
G) B) and D)

Question 14

The National Aeronautics and Space Administration (NASA)  will pay Lockheed Martin Corp. $11.4 billion for Orion's development, test flights, and its first manned mission in 2021. NASA is a government unit operating in __________ market.

Accepted Answer

A)  a heavy goods
B)  a government
C)  a service
D)  an industrial
E)  a resellerF) A) and B)
G) A) and C)

Question 15

Because many companies are concerned with the depletion of natural resources, supply partnerships often include provisions for

Accepted Answer

A)  green marketing.
B)  regulatory exemptions.
C)  stakeholder procurement.
D)  ecological procurement.
E)  sustainable procurement.F) D) and E)
G) C) and E)

Question 16

A buy class situation affects buying center tendencies in different ways. If there are two or three people involved, the time required for a decision is moderate, and only present suppliers are considered, the buy class situation is most likely a

Accepted Answer

A)  new buy.
B)  straight rebuy.
C)  modified rebuy.
D)  conditional rebuy.
E)  standard reorder.F) B) and D)
G) B) and E)

Question 17

The buying situation where users, influencers, or deciders want to change product specifications, price, delivery schedule, or supplier for an item that is largely the same as what was previously purchased is referred to as a

Accepted Answer

A)  secondary buy.
B)  straight rebuy.
C)  modified rebuy.
D)  adapted buy.
E)  remake buy.F) A) and B)
G) A) and C)

Question 18

The primary buying objective for business firms is usually to

Accepted Answer

A)  increase profits through increasing costs and increasing revenues.
B)  increase profits through reducing costs and decreasing revenues.
C)  increase profits through reducing costs or increasing revenues.
D)  maintain profits through reducing costs and increasing revenues.
E)  reduce profits through reducing costs and reducing revenues.F) A) and B)
G) D) and E)

Question 19

The term __________ is used to identify a group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.

Accepted Answer

A)  procurement committee
B)  purchasing department
C)  buying center
D)  gatekeepers
E)  acquisition officeF) B) and C)
G) D) and E)

Question 20

A buying center refers to

Accepted Answer

A)  an online trading community that brings together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services.
B)  the department within a firm responsible for the logistics of placing, tracking, and delivering orders to other departments within the firm.
C)  the department within a firm responsible for the logistics of placing, tracking, and delivering orders to ultimate consumers.
D)  the group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.
E)  the department within a firm that allows purchases to be made from a centralized location from multiple vendors at the same time.F) A) and B)
G) A) and E)

Exam 6: Understanding Organizations As Customers

Important market characteristics in organizational buying behavior include which of the following?

Correct AnswerverifiedShow Answer

The term __________ is used to identify a group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.

Correct AnswerverifiedShow Answer

______________ in some way reprocess a product or service they buy before selling it again to the next buyer.

Correct AnswerverifiedShow Answer

The North American Industry Classification System (NAICS) designates industries with a numerical code in a defined structure. A six-digit coding system is used. The third digit designates

Correct AnswerverifiedShow Answer

Organizational buying criteria refer to

Correct AnswerverifiedShow Answer

When Trek orders a seat or saddle for one of its models that has a slightly different material for the cover only but the other components are the same as existing saddles used on other bikes, this purchase situation is known as a

Correct AnswerverifiedShow Answer

A supply partnership refers to

Correct AnswerverifiedShow Answer

The buying situation where users, influencers, or deciders want to change product specifications, price, delivery schedule, or supplier for an item that is largely the same as what was previously purchased is referred to as a

Correct AnswerverifiedShow Answer

The first stage in the organizational buying decision process is

Correct AnswerverifiedShow Answer

The primary buying objective for business firms is usually to

Correct AnswerverifiedShow Answer

A buying center refers to

Correct AnswerverifiedShow Answer

A buy class situation affects buying center tendencies in different ways. If there are two or three people involved, the time required for a decision is moderate, and only present suppliers are considered, the buy class situation is most likely a

Correct AnswerverifiedShow Answer

Another name for an e-marketplace is

Correct AnswerverifiedShow Answer

Because many companies are concerned with the depletion of natural resources, supply partnerships often include provisions for

Correct AnswerverifiedShow Answer

The reseller market includes

Correct AnswerverifiedShow Answer

The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers is referred to as

Correct AnswerverifiedShow Answer

In a buyer-seller relationship, reciprocity refers to

Correct AnswerverifiedShow Answer

What type of online auction does one seller and many buyers typify?

Correct AnswerverifiedShow Answer

Important buying process characteristics in organizational buying behavior include which of the following?

Correct AnswerverifiedShow Answer

The National Aeronautics and Space Administration (NASA) will pay Lockheed Martin Corp. $11.4 billion for Orion's development, test flights, and its first manned mission in 2021. NASA is a government unit operating in __________ market.

Correct AnswerverifiedShow Answer

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