Question 1

Business-to-business marketing involves buying and selling goods or services by all of the following except

Accepted Answer

Business-to-business marketing is the exchange of products, services or information between businesses, rather than between businesses and consumers (B2C). Therefore, the involvement of individual consumers is not included in B2B marketing.

Question 2

A ________ is a type of reseller, a business that buys from other businesses but does not significantly alter the form of the products it buys.

Accepted Answer

A wholesaler buys products from manufacturers and producers in large quantities and resells them to retailers or other businesses, but they do not significantly alter the form of the products they buy. Manufacturers and producers create or manufacture the products, while consumers purchase the products for personal use. A factory is a type of producer, where goods are manufactured or assembled.

Question 3

Hospitals, schools, and religious organizations are examples of ________ buyers.

Accepted Answer

Institutional buyers are those who purchase goods and services for organizations that are not focused on making a profit, such as hospitals, schools, and religious organizations. Therefore, option C (institutional) is the best choice. Option A (manufacturing) refers to buyers who purchase materials and supplies to create products, option B (retail) refers to buyers who purchase goods to sell to the end consumer, option D (factory agent) refers to a person who represents a manufacturing company and sells their products to other businesses, and option E (reseller) refers to buyers who purchase products to resell them to others. None of these options accurately describe the type of buyers mentioned in the question.

Question 4

The surgeon at the hospital is the decider in the buying process.

Accepted Answer

The surgeon may influence the buying process, but the final decision is typically made by a procurement team or hospital administration, considering budget and institutional needs.

Question 5

Consultative buying centers use one person to make a decision but solicit input from others before doing so.

Accepted Answer

In consultative buying centers, one person makes the final decision but only after gathering and considering input from others within the organization.

Question 6

Jackie works as a sales rep for a company that produces and sells steel used in building construction. Jackie is in ________ sales.

Accepted Answer

Jackie is selling steel products used in building construction, which implies that her customers are other businesses (e.g. building contractors, construction companies, etc.). Therefore, she is involved in B2B (business-to-business) sales, where the seller is selling to other businesses instead of individual consumers (B2C) or government agencies (G2G). G2B is a type of B2G (business-to-government) sales, which doesn't apply in this context. C2C is a type of e-commerce where individuals sell to other individuals, and it's not applicable in this scenario.

Question 7

Whether targeting consumers or resellers, marketers need to focus on

Accepted Answer

Creating value for customers should be the main focus of marketers, as it is what ultimately drives sales and customer loyalty. The other options mentioned are either not relevant to the question or represent secondary concerns for marketers.

Question 8

LinkedIn is useful for networking in the B2B marketplace, but Twitter is not typically used.

Accepted Answer

Twitter can also be useful for networking and establishing connections in the B2B marketplace. Many businesses and professionals use Twitter to share industry news, updates, and insights, engage with peers and potential customers, and build their brand presence. However, LinkedIn's features and focus on professional connections make it a more popular platform for B2B networking.

Question 9

Sales of electric components manufactured by Rick's company depend on sales of new cars, in other words, ________ demand.

Accepted Answer

Derived demand occurs when the demand for one good or service results from the demand for another related good or service, such as electric components being dependent on new car sales.

Question 10

In most countries, ________ is(are) among the largest purchasers of goods and services.

Accepted Answer

The central government is typically responsible for purchasing goods and services on behalf of various agencies and departments, as well as for infrastructure projects and other public works. This makes them one of the largest purchasers in most countries.

Question 11

Unlike manufacturers, ________ buy products from other businesses but do not significantly alter the form of the products they buy before selling them.

Accepted Answer

Resellers are businesses that buy products from other businesses and sell them without significantly altering the form of the products. Producers make the products themselves, while consumers purchase products for personal use. Raw materials suppliers are businesses that provide materials for manufacturing, which is not the role of a reseller. Gatekeepers are individuals or organizations that control access to information or resources, and are not relevant to this question.

Question 12

Neighbors Bicycles needed more bicycle seats. It decided to order gel seats in addition to the traditional seats it had always ordered. This is a straight rebuy.

Accepted Answer

The answer of Neighbors Bicycles needed more bicycle seats. It...

Question 13

As Daphne's business grew, she needed to find a new way to manage payroll for her employees, so she researched payroll companies to see which one would best meet her needs. Daphne was involved in a new buy situation.

Accepted Answer

Daphne's need to find a new way to manage payroll for her growing business indicates a new buy situation.

Question 14

Derek bought a pickup truck to transport his equipment to fishing tournaments. He also bought a trailer for his lawn maintenance business. His purchases were

Accepted Answer

The pickup truck is a B2C purchase as it is for personal use in fishing tournaments, while the trailer is a B2B purchase as it is for his lawn maintenance business.

Question 15

Compared to the B2C process, the information search and alternative evaluation steps in the B2B process are

Accepted Answer

In the B2B process, information search and alternative evaluation steps are more formal and structured as they involve multiple decision makers and high-stakes purchases. The decision-making process also involves a higher degree of analysis and consideration of long-term value creation, rather than just immediate customer satisfaction.

Question 16

Paula has developed a successful business selling appliances to homebuilders. She carefully monitors the issuance of new home permits to anticipate how many appliances she will need to buy in order to supply her customers. Paula is concerned with ________ demand.

Accepted Answer

Derived demand refers to demand for a product or service that arises from the demand for another product or service. In this case, Paula's demand for appliances is derived from the demand for new homes being built. She monitors the issuance of new home permits to anticipate how many appliances she will need to buy, indicating her concern with derived demand. Modified, secondary, rebuy, and delayed demand are not relevant in this context.

Question 17

Malcolm buys overrun clothing from factories around the South. He sells the clothes to discount retailers. Malcolm is a

Accepted Answer

Malcolm is buying clothing from factories and reselling them to discount retailers. Therefore, he is a reseller.

Question 18

Which of the following is an example of a government buyer?

Accepted Answer

The Pentagon is a government institution and therefore a government buyer. Mayo Clinic Hospital, Procter & Gamble, Nucor Steel Corporation, and Walmart are all private entities and not government buyers.

Question 19

Which of the following is an example of an institutional buyer?

Accepted Answer

The answer of Which of the following is an example...

Question 20

Both the B2B and B2C buying processes begin with

Accepted Answer

Both B2B and B2C buying processes start with the recognition of a need. In the B2B process, this may be identified through market research or discussions with key stakeholders within the organization. In the B2C process, this may stem from a desire for a specific product or personal need.

Quiz 7: Business-To-Business Marketing