10 Questions for learning

(Analyzing Business Markets: Chapter 7)

Leeyhan Frank B. DizonSeptember 3, 2010

1. ______ decision-making process by which formal organizations establish the need to purchase products and services and identify, evaluate and choose among alternative brands and suppliers.

A. Organizational Buying B. Straight RebuyC. Market BuyingD. OutsourcingE. Direct Purchasing

1. ______ decision-making process by which formal organizations establish the need to purchase products and services and identify, evaluate and choose among alternative brands and suppliers.

A. Organizational Buying B. Straight RebuyC. Market BuyingD. OutsourcingE. Direct Purchasing

2. All are characteristics of Business Markets except

A. Fewer, Larger BuyersB. Direct and Indirect Purchasing

SystemC. Inelastic DemandD. Fluctuating DemandE. Close supplier-customer

relationships

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2. All are characteristics of Business Markets except

A. Fewer, Larger BuyersB. Direct and Indirect Purchasing

SystemC. Inelastic DemandD. Fluctuating DemandE. Close supplier-customer

relationships

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3. The three types of buying situations are: straight rebuy, modified rebuy and ________

A. Original TaskB. Common TaskC. New TaskD. Buying TaskE. Purpose Task

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3. The three types of buying situations are: straight rebuy, modified rebuy and ________

A. Original TaskB. Common TaskC. New TaskD. Buying TaskE. Purpose Task

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4. Which of the following is true?

A. Business Markets have less geographically concentrated buyers.

B. Suppliers must be prepared to adapt their offers to the special needs and procedures which are found in institutional and government markets.

C. To improve effectiveness and efficiency, business suppliers and customers are focusing on one way to manage their business relationships.

D. Inelastic demand is one of the characteristics of a service market.

E. Purchasing departments were perceived to occupy a high position in the management hierarchy, in spite of often managing more than half the company’s costs.

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4. Which of the following is true?

A. Business Markets have less geographically concentrated buyers.

B. Suppliers must be prepared to adapt their offers to the special needs and procedures which are found in institutional and government markets.

C. To improve effectiveness and efficiency, business suppliers and customers are focusing on one way to manage their business relationships.

D. Inelastic demand is one of the characteristics of a service market.

E. Purchasing departments were perceived to occupy a high position in the management hierarchy, in spite of often managing more than half the company’s costs.

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5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.

A. Organizational MarketsB. Public and Private InstituitionsC. Service MarketsD. Suppliers and ConsumersE. Instituitional and Government

Markets

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5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.

A. Organizational MarketsB. Public and Private InstituitionsC. Service MarketsD. Suppliers and ConsumersE. Instituitional and Government

Markets

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6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it

is an example of: A. Systems BuyingB. MergingC. Total Quality ManagementD. OutsourcingE. Straight Rebuy

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6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it

is an example of: A. Systems BuyingB. MergingC. Total Quality ManagementD. OutsourcingE. Straight Rebuy

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7. The first stage in the buying process is usually called:

A. Observation of current marketB. General Description of the needC. Product and Supplier

SpecificationD. Problem recognitionE. Probing and Identifying the

need.

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7. The first stage in the buying process is usually called:

A. Observation of current marketB. General Description of the needC. Product and Supplier

SpecificationD. Problem recognitionE. Probing and Identifying the

need.

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8. Systems buying is defined as:

A. Buyers improve the system by acquiring a new company with a better facility.

B. General merging of 2 partner companies for better system management.

C. Product and Supplier Relationship made better by new and advanced system

D. Outsourcing of new system from other parties. E. Buyers prefer to buy a total solution to a

problem from one seller

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8. Systems buying is defined as:

A. Buyers improve the system by acquiring a new company with a better facility.

B. General merging of 2 partner companies for better system management.

C. Product and Supplier Relationship made better by new and advanced system

D. Outsourcing of new system from other parties. E. Buyers prefer to buy a total solution to a

problem from one seller

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9. Which of the following is false?

A. Buyers for government organizations tend to require a great deal of paperwork from their vendors and to favor open bidding and domestic companies

B. Usually, performance review is an option when talking about the buying process.

C. Business Markets as compared with Consumer Markets have fewer, larger buyers.

D. Business marketers must form strong bonds and relationships with their customers and provide them added value.

E. Closer relationships are driven in part by supply chain management, early supplier involvement and purchasing alliances.

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9. Which of the following is false?

A. Buyers for government organizations tend to require a great deal of paperwork from their vendors and to favor open bidding and domestic companies

B. Usually, performance review is an option when talking about the buying process.

C. Business Markets as compared with Consumer Markets have fewer, larger buyers.

D. Business marketers must form strong bonds and relationships with their customers and provide them added value.

E. Closer relationships are driven in part by supply chain management, early supplier involvement and purchasing alliances.

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10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?

A. StakeholdersB. Board of OfficersC. GatekeepersD. SuppliersE. Evaluators

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10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?

A. StakeholdersB. Board of OfficersC. GatekeepersD. SuppliersE. Evaluators

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