Question 1

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

Accepted Answer

B2B sales refers to the sales made between businesses, rather than between a business and individual consumers (B2C) or individuals (C2C). Jackie sells steel to be used in building construction, which is sold between her company and other businesses involved in the construction industry, making her role in B2B sales.

Question 2

Nearly all small businesses have consensus buying centers.

Accepted Answer

False

Question 3

Derek bought a pick-up truck to transport his equipment to fishing tournaments.He also bought a pick-up for his lawn maintenance business.His purchases were:

Accepted Answer

Derek buying a pick-up truck for his lawn maintenance business is a B2B (business-to-business) purchase since it is being used for his business. On the other hand, Derek buying a pick-up truck to transport his equipment to fishing tournaments is a B2C (business-to-consumer) purchase since it is being purchased for personal use. Hence, the answer is option D.

Question 4

Organizational culture may vary by geography.

Accepted Answer

Organizational culture may vary by geography due to differences in social norms, values, and traditions in different regions or countries.

Question 5

Business-to-business marketing involves buying and selling goods or services to be used by:

Accepted Answer

Business-to-business marketing involves buying and selling goods or services to be used by manufacturers, wholesalers, retailers, and producers. Therefore, the best choice is E, which includes all of these options.

Question 6

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 __________.

Accepted Answer

Paula's concern with monitoring the issuance of new home permits to anticipate how many appliances she will need to buy indicates that her demand for appliances is derived from the demand for new homes. Therefore, she is concerned with derived demand.

Question 7

A small business decides to upgrade its aging phone system.The business will probably place a straight rebuy order.

Accepted Answer

While it is possible that the business may choose to place a straight rebuy order, it is more likely that they will engage in some level of decision making before purchasing an upgraded phone system, such as evaluating different vendors and models, assessing features and costs, and considering their specific communication needs. This would make it an example of a modified rebuy or new task situation, rather than a straight rebuy.

Question 8

An architect working for a large firm requests specific computer software to produce designs,drawings and other technical information for his clients.The architect probably serves as a gatekeeper in the buying center.

Accepted Answer

The answer of An architect working for a large firm...

Question 9

The RFP process is used by buyers to allow customer input into value creation.

Accepted Answer

The RFP (Request for Proposal) process is used by buyers to solicit proposals from potential suppliers or service providers, primarily to evaluate their offerings and capabilities, not specifically to allow customer input into value creation.

Question 10

Business-to-business marketing refers to buying and selling goods or services to be used by final consumers.

Accepted Answer

Business-to-business marketing refers to buying and selling goods or services between businesses, rather than to be used by final consumers.

Question 11

Most B2B buying situations can be categorized into three categories: new buys,structured rebuys and automatic rebuys.

Accepted Answer

The answer of Most B2B buying situations can be categorized...

Question 12

The B2B buying process tends to be more formal than B2C buying.

Accepted Answer

B2B buying often involves a longer sales cycle, multiple decision-makers, and a more structured procurement process compared to B2C buying, which can be more impulsive and emotional. Therefore, B2B buying tends to be more formal than B2C buying.

Question 13

A university's purchasing department is required to get at least three bids for any purchase greater than $3000.This requirement is used to keep suppliers "on their toes."

Accepted Answer

This statement is true as many universities have a policy to get at least three bids for any purchase greater than a certain amount to ensure competitiveness among suppliers and to get the best value for their money. This also helps in avoiding favoritism and bias towards specific suppliers.

Question 14

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

Accepted Answer

Business-to-business marketing does not involve buying and selling goods or services directly to consumers. It involves transactions between businesses, such as manufacturers, producers, wholesalers, and retailers.

Question 15

Resellers differ from producers in that resellers significantly alter the form of goods they sell.

Accepted Answer

Resellers do not significantly alter the form of goods they sell, they simply purchase goods from producers and sell them to consumers without making significant changes to the product.

Question 16

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

Accepted Answer

Derived demand refers to the demand for a product or service that is derived from the demand for another product or service. In this case, the demand for electric components manufactured by Rick's company is derived from the demand for new cars. Therefore, option E is the correct answer. Options A, B, C, and D do not accurately describe the situation mentioned in the question.

Question 17

In both new buy and straight rebuy situations,all members of a buying center will be intensely involved in the purchasing decision.

Accepted Answer

The answer of In both new buy and straight rebuy...

Question 18

A buying center whose members reach a decision based on a collective agreement is known as an autocratic buying center.

Accepted Answer

An autocratic buying center is a buying center where the decision is made by one or a few dominant members without much input or agreement from others. A collective agreement-based buying center is known as a democratic buying center.

Question 19

The final step of the business-to-business buying process is a formal vendor analysis.

Accepted Answer

The final step of the business-to-business buying process is a formal vendor analysis. This analysis involves evaluating the proposals and selecting the vendor that best meets the organization's needs. It includes a thorough assessment of the vendor's capabilities, pricing, and reputation, as well as any additional factors that are of importance to the buyer. The vendor analysis helps the buyer to make an informed decision and establish a successful partnership with the chosen supplier.

Question 20

B2B marketing involves manufacturers,wholesalers,and service firms.

Accepted Answer

B2B marketing involves businesses that sell products or services to other businesses, including manufacturers, wholesalers, and service firms.

Quiz 6: Business-To-Business Marketing