Question 1

Which of the following statements about the North American Industry Classification System (NAICS)is most accurate?

Accepted Answer

The statement that best describes the North American Industry Classification System (NAICS) is that it groups economic activity to permit studies of market share, demand for products and services, import competition in domestic markets, and similar studies. This system has not been replaced by the Standard Industrial Classification (SIC) system, and it does permit comparability across countries. The NAICS is also consistent with the International Standards Organization, and it is actually a six-digit code. However, the option that best describes its purpose is option D.

Question 2

The North American Industry Classification System (NAICS)

Accepted Answer

The NAICS provides common industry definitions for Canada, Mexico, and the United States to measure economic activity in these three member countries.

Question 3

The system that provides common industry definitions for Canada,Mexico,and the United States,which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA),is referred to as the

Accepted Answer

The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA), is referred to as the North American Industry Classification System (NAICS). It replaced the Standard Industrial Classification (SIC) system and is used by government agencies, businesses, and researchers in the three countries. Therefore, the best choice is D.

Question 4

The North American Industry Classification System (NAICS)permits a firm to

Accepted Answer

The NAICS system allows firms to identify their target market and obtain NAICS-coded lists of similar firms. This information can help the firm to better understand their competition and potential customer base, which can inform their marketing and sales strategies.

Question 5

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

Accepted Answer

The first two digits of the NAICS code designate the sector of the economy, such as agriculture, manufacturing, or services.

Question 6

The NAICS is consistent with the International Standard Industrial Classification of All Economic Activities,which is published by the __________ to facilitate measurement of global economic activity.

Accepted Answer

The International Standard Industrial Classification of All Economic Activities is published by the United Nations (UN).

Question 7

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

Accepted Answer

The answer of The North American Industry Classification System (NAICS)system...

Question 8

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

Accepted Answer

The answer of The North American Industry Classification System (NAICS)system...

Question 9

A disadvantage of the North American Industry Classification System (NAICS)is that

Accepted Answer

The disadvantage of the North American Industry Classification System (NAICS)is that five-digit national industry codes are not always available for all three countries. This can make it difficult to accurately compare industries across Canada, the United States, and Mexico.

Question 10

In the organizational buying process,important product or service characteristics include purchases based on specifications,a predominance of raw and semi-finished goods,and heavy emphasis placed on

Accepted Answer

The important product or service characteristics in the organizational buying process include purchases based on specifications, which means that the buyer has a clear idea of their requirements and expects the seller to meet those specifications. A predominance of raw and semi-finished goods indicates that the buyer is looking for products that can be customized or modified to meet their needs. Additionally, in the organizational buying process, heavy emphasis is placed on delivery time, technical assistance, and post-sale service. Buyers are likely to choose suppliers who are reliable and can deliver products on time, provide technical support when needed, and offer good after-sales service. Therefore, option A is the correct answer. The other options either do not include all the important product or service characteristics or include characteristics that are not as important in the organizational buying process.

Question 11

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

Accepted Answer

The answer of The North American Industry Classification System (NAICS)system...

Question 12

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

Accepted Answer

Reciprocal arrangements and negotiations between buyers and sellers are common characteristics of organizational buying behavior.

Question 13

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

Accepted Answer

Organizational buying behavior typically involves a smaller number of customers making larger orders over time.

Question 14

Important product or service characteristics in organizational buying include which of the following?

Accepted Answer

Organizational buying places a heavy emphasis on delivery time, technical assistance, and post-sale service. These factors are important as organizations need to ensure that the products and services they purchase are delivered on time, are of high quality, and are backed by excellent customer service. Other important characteristics may include customization, reliability, and scalability of the product or service. Loyalty programs and rebates may also be factors, but they are not as important as ensuring the product or service meets the organization's specific needs. Direct selling may be common in organizational buying and personal relationships may also play a role, but online buying over the internet is becoming increasingly popular. A fixed, non-negotiable price is not necessarily the norm in organizational buying as negotiations are often conducted to reach a mutually agreeable price.

Question 15

-The acronym of the NAICS logo above stands for

Accepted Answer

The logo stands for the North American Industry Classification System (NAICS), which is used to classify businesses in North America based on their industries.

Question 16

The City of Denver contracts with Solid Waste Management to provide trash collection services for its citizens.The city is operating as a(n)

Accepted Answer

The City of Denver is a government unit that has contracted with Solid Waste Management to provide a specific service to its citizens (trash collection). This is an example of a public-private partnership, where the government contracts with a private company to provide a service that it cannot or chooses not to provide itself.

Question 17

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

Accepted Answer

The third digit in the NAICS coding system designates an industry subsector, which is a more specific division within an industry group. The first two digits designate the industry sector, which is a broader categorization. Therefore, option A is the best choice.

Question 18

The North American Industry Classification System (NAICS)provides common industry definitions to facilitate the measurement of economic activity for the member countries of the

Accepted Answer

NAICS was jointly developed by the governments of the United States, Canada, and Mexico, the member countries of NAFTA, to provide a unified framework for industries across North America.

Question 19

How might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Accepted Answer

By recording the NAICS numbers for each of her firm's best customers and obtaining lists of companies with the same NAICS numbers, the marketing manager can identify potential new customers and target them with more effective marketing strategies. NAICS codes classify businesses into specific industries, making it easier to identify target markets and competitors in the same industry.

Question 20

-Consider the NAICS logo above,which provides common industry definitions for

Accepted Answer

The NAICS (North American Industry Classification System) is used by Canada, Mexico, and the United States to provide common industry definitions.

Quiz 5: Understanding Organizations As Customers

Which of the following statements about the North American Industry Classification System (NAICS) is most accurate?

The North American Industry Classification System (NAICS)

The system that provides common industry definitions for Canada,Mexico,and the United States,which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA) ,is referred to as the

The North American Industry Classification System (NAICS) permits a firm to

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

The NAICS is consistent with the International Standard Industrial Classification of All Economic Activities,which is published by the __________ to facilitate measurement of global economic activity.

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

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

A disadvantage of the North American Industry Classification System (NAICS) is that

In the organizational buying process,important product or service characteristics include purchases based on specifications,a predominance of raw and semi-finished goods,and heavy emphasis placed on

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

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

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

Important product or service characteristics in organizational buying include which of the following?

-The acronym of the NAICS logo above stands for

The City of Denver contracts with Solid Waste Management to provide trash collection services for its citizens.The city is operating as a(n)

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

The North American Industry Classification System (NAICS) provides common industry definitions to facilitate the measurement of economic activity for the member countries of the

How might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

-Consider the NAICS logo above,which provides common industry definitions for