Question 1

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

A straight rebuy is when a company simply reorders something it has purchased before without considering other alternatives or suppliers. In this scenario, the company is considering a new type of seat, which means it is not a straight rebuy.

Question 2

Sales of electric components manufactured by Rick's company depend on sales of new cars. Rick's company faces __________ demand.

Accepted Answer

Derived demand is a type of demand that exists for a good or service as a result of its usefulness in producing another good or service. In the given scenario, the demand for electric components of Rick's company is derived from the demand for new cars.

Question 3

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

Accepted Answer

Business-to-business marketing involves transactions between businesses, not consumers. The other options listed (manufacturers, retailers, producers, wholesalers) are all examples of businesses that may engage in B2B marketing.

Question 4

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

Accepted Answer

The U.S. Marine Corps is a branch of the federal government and therefore qualifies as a government buyer. Mayo Clinic Hospital, Procter & Gamble, Nucor Steel Corporation, and Walmart are all private entities and do not qualify as government buyers.

Question 5

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 due to her business growth is an example of a new buy situation.

Question 6

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 compared to the B2C process. This is because B2B transactions involve larger investments and longer-term commitments, and thus require a more rigorous evaluation process. The decision-making process in B2B transactions is typically driven by a committee or a group, and involves a detailed analysis of multiple criteria such as quality, reliability, and cost-effectiveness.

Question 7

Whether targeting consumers or resellers, marketers need to focus on

Accepted Answer

Creating value for customers is crucial for both targeting consumers and resellers. By creating value, marketers are able to differentiate their products or services from competitors and satisfy the needs and wants of their customers or resellers, thus increasing sales and profitability.

Question 8

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 9

In most countries, __________ is one of the largest purchasers of goods and services.

Accepted Answer

In most countries, the central government is one of the largest purchasers of goods and services, as it provides public goods and services for its citizens. This can include everything from infrastructure projects to healthcare services to public transportation systems.

Question 10

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

Accepted Answer

Twitter can also be useful for networking in the B2B marketplace by connecting with industry professionals, following industry trends, and participating in relevant Twitter chats and discussions.

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 manufacturers or other businesses and sell them to consumers or other businesses without significantly altering the form of the products they buy. Producers, on the other hand, are businesses that create, manufacture, or build products from raw materials or components. Consumers are individuals or households that buy products for their own personal use. Raw materials suppliers are businesses that provide raw materials, such as metals or chemicals, to manufacturers or other businesses. Gatekeepers are individuals or organizations that control access to important resources or information.

Question 12

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

Accepted Answer

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

Question 13

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

Accepted Answer

Hospitals, schools, and religious organizations are usually considered institutional buyers because their purchasing decisions are driven by specific needs rather than profit motives. They often have specialized requirements, such as high-quality or specialized equipment or services, and they typically have established procurement processes and regulations that vendors must follow. This distinguishes institutional buyers from manufacturing, retail, and reseller buyers, who typically purchase goods and services for resale or production purposes.

Question 14

When you go to the hospital for an operation, you are the decider in the buying process.

Accepted Answer

The answer of When you go to the hospital for...

Question 15

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

Accepted Answer

Malcolm is buying clothes from factories and then reselling them to discount retailers, making him a reseller.

Question 16

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 answer of Derek bought a pickup truck to transport...

Question 17

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 works for a company that sells steel used in building construction. This business-to-business (B2B) sales model involves selling products or services to other companies rather than individual consumers. Therefore, Jackie is in B2B sales.

Question 18

Both the B2B and B2C buying processes begin with

Accepted Answer

Both the B2B and B2C buying processes begin with need recognition or identifying a problem or desire that can be solved through a purchase. Central planning, postpurchase dissonance, alternative evaluation, and order specification all come later in the buying process.

Question 19

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 is a type of reseller that buys products in bulk from manufacturers or other businesses and sells them to retailers or other businesses without significantly altering the form of the products. The main function of a wholesaler is to provide a distribution channel between manufacturers and retailers, helping to bridge the gap between production and consumption. Manufacturers and producers are involved in the production of goods or services, while consumers are the end-users who buy and consume these products. A factory is a place where goods are manufactured or processed.

Question 20

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 to supply her customers. Paula is concerned with __________ demand.

Accepted Answer

Paula is monitoring the issuance of new home permits to anticipate the demand for appliances from homebuilders. This implies that the demand for her appliances is derived from the demand for new homes - as new homes are built, homebuilders will need appliances, which will in turn drive demand for Paula's business. Therefore, Paula is concerned with derived demand.

Quiz 7: Business-To-Business Marketing