Question 1

NAICS stands for

Accepted Answer

NAICS stands for North American Industry Classification System.

Question 2

Today,when a buyer can't specify all of the details of what it will need in the future,the relationship with a supplier is most likely to involve

Accepted Answer

When a buyer can't specify all of the details of what it will need in the future,the relationship with a supplier is most likely to involve negotiated contracts.

Question 3

Chu's Coating Services,a painting company,designs a set of four paint colors that will only be used by custom motorcycle maker Walker County Choppers.This decision is an example of

Accepted Answer

Chu's Coating Services is providing customized services to Walker County Choppers,which is a relationship-specific adaptation.Relationship-specific adaptations involve changes in a firm's product or procedures that are unique to the needs or capabilities of a relationship partner.

Question 4

When a large aircraft manufacturer like Boeing obtains a contract to build a new type of jet airliner,the transaction is most likely a(n)

Accepted Answer

The transaction is a negotiated contract buy,as the contract is likely to contain only the general project and basic price details,with provision for changes as the job progresses.

Question 5

Which of the following statements about manufacturers is FALSE?

Accepted Answer

While it is true that the number of people employed in manufacturing has been shrinking,U.S.manufacturing output is higher than at any other time in the nation's history.The rate of growth,however,is fastest in countries where labor is cheapest.

Question 6

Rico Paving Contractors enters into a contract with Valley Supply for the purchase of 100 bags of cement per week for the next 16 weeks,at a price of $15 per bag.The contract also includes a condition that allows prices to be revised if costs go up more than $1 per bag.This purchase involves

Accepted Answer

This purchase involves negotiated contract buying,as the contract includes a provision for price changes over a specific period of time.Negotiated contract buying means agreeing to contracts that allow for changes in the purchase arrangements.

Question 7

When referencing NAICS codes,marketers should know that

Accepted Answer

NAICS codes help categorize all types of businesses and begin by listing general industry categories,which are marked by two-digit codes.Subcategories of those top-level groupings then receive codes of three or more digits,signifying greater detail about the products and services offered by firms.

Question 8

A catalog merchant wants to build a new distribution center that will improve inventory management,storage of products,shipping,and returns.The company develops a close relationship with UPS,its main supplier of shipping services.UPS helps the catalog merchant design its new distribution center so that it coordinates well with the shipping processes at UPS.This arrangement reduces shipping costs and improves service to the catalog merchant's customers.This situation is an example of

Accepted Answer

As the two companies work in close cooperation with each other,this situation is an example of relationship-specific adaptations.Relationship-specific adaptations involve changes in a firm's product or procedures that are unique to the needs or capabilities of a relationship partner.

Question 9

Which of the following is true of the market composed of manufacturers in the United States?

Accepted Answer

Within a country,there is often concentration of manufacturing in specific areas.In the United States,many factories are concentrated in big metropolitan areas-especially in New York,Pennsylvania,Ohio,Illinois,Texas,and California.

Question 10

Which of the following statements about manufacturers is true?

Accepted Answer

Internationally,industrial customers are concentrated in countries that are at the more advanced stages of economic development.

Question 11

U.S.business manufacturing markets tend to be concentrated

Accepted Answer

U.S.business manufacturing markets tend to be concentrated by industry type,industry size,and geographical location.

Question 12

The U.S.government collects and publishes data by ________ codes-groups of firms in similar lines of business.

Accepted Answer

The U.S.government collects and publishes data by the North American Industry Classification System (NAICS)codes-groups of firms in similar lines of business.

Question 13

Which of the following is NOT a key variable that marketers need to consider when developing marketing mixes for manufacturers?

Accepted Answer

To help develop effective marketing mixes,marketers should pay close attention to the size,geographic locations,buying procedures,and types of manufacturers.

Question 14

NAICS stands for

Accepted Answer

NAICS stands for North American Industry Classification System.

Question 15

Organizational buyers purchase the same product from more than one source

Accepted Answer

Buyers often look for several dependable sources of supply to ensure continued supplies and also to protect themselves from unpredictable events.

Question 16

Specific adaptations are usually required when a buyer chooses ________,which is a contract with an external firm to produce goods or services rather than the buyer producing them internally.

Accepted Answer

Specific adaptations are usually made when the buying organization chooses to outsource-that is,contract with an outside firm to produce goods or services rather than to produce them internally.

Question 17

U.S.manufacturers

Accepted Answer

U.S.manufacturers tend to concentrate by industry.For example,most U.S.automobile manufacturing occurs in Michigan,Indiana,and Ohio.

Question 18

Which of the following statements about manufacturers is true?

Accepted Answer

Internationally,industrial customers are concentrated in countries that are at the more advanced stages of economic development.

Question 19

Which of the following tips would help marketers find new B2B clients that are similar to clients they already serve?

Accepted Answer

Marketers can find firms that are similar to current B2B-market clients by looking up current customers' NAICS codes and then studying NAICS-coded lists for related firms.

Question 20

Creative Electronics has an idea for a new smartphone accessory.Now it is looking for a supplier to design and manufacture the product.It will most likely use ________ buying.

Accepted Answer

Creative Electronics only has an idea for a new smartphone accessory and not a detailed description of it,so it is most likely to use negotiated contract buying.Negotiated contract buying means agreeing to contracts that allow for changes in the purchase arrangements.

Quiz 6: Business and Organizational Customers and Their Buying Behavior

NAICS stands for

Today,when a buyer can't specify all of the details of what it will need in the future,the relationship with a supplier is most likely to involve

Chu's Coating Services,a painting company,designs a set of four paint colors that will only be used by custom motorcycle maker Walker County Choppers.This decision is an example of

When a large aircraft manufacturer like Boeing obtains a contract to build a new type of jet airliner,the transaction is most likely a(n)

Which of the following statements about manufacturers is FALSE?

Rico Paving Contractors enters into a contract with Valley Supply for the purchase of 100 bags of cement per week for the next 16 weeks,at a price of $15 per bag.The contract also includes a condition that allows prices to be revised if costs go up more than $1 per bag.This purchase involves

When referencing NAICS codes,marketers should know that

Which of the following is true of the market composed of manufacturers in the United States?

Which of the following statements about manufacturers is true?

U.S.business manufacturing markets tend to be concentrated

The U.S.government collects and publishes data by ________ codes-groups of firms in similar lines of business.

Which of the following is NOT a key variable that marketers need to consider when developing marketing mixes for manufacturers?

NAICS stands for

Organizational buyers purchase the same product from more than one source

Specific adaptations are usually required when a buyer chooses ________,which is a contract with an external firm to produce goods or services rather than the buyer producing them internally.

U.S.manufacturers

Which of the following statements about manufacturers is true?

Which of the following tips would help marketers find new B2B clients that are similar to clients they already serve?

Creative Electronics has an idea for a new smartphone accessory.Now it is looking for a supplier to design and manufacture the product.It will most likely use ________ buying.