Question 1

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Accepted Answer

The five key dimensions that help characterize most buyer-seller relationships are cooperation, information sharing, operational linkages, legal bonds, and relationship-specific adaptations.

Question 2

Suppliers to business markets often

Accepted Answer

Suppliers to business markets often share information on industry trends with the customer, provide just-in-time delivery, serve as technical consultants to their customers, and agree to negotiated contract buying.

Question 3

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 4

Operational linkages are ________.

Accepted Answer

Operational linkages are direct ties between the internal operations of the buyer and seller firms.

Question 5

When a purchasing manager knows roughly what is needed but can't describe it exactly-or when the purchasing arrangement may change as the job progresses-then buying is likely to be by ________

Accepted Answer

Negotiated contract buying means agreeing to contracts that allow for changes in the purchase arrangements. In such cases, the general project and basic price is described but with provision for changes and price adjustments as the job progresses.

Question 6

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 7

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Accepted Answer

The five key dimensions that help characterize most buyer-seller relationships are cooperation, information sharing, operational linkages, legal bonds, and relationship-specific adaptations.

Question 8

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Accepted Answer

The five key dimensions that help characterize most buyer-seller relationships are cooperation, information sharing, operational linkages, legal bonds, and relationship-specific adaptations.

Question 9

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Accepted Answer

The five key dimensions that help characterize most buyer-seller relationships are cooperation, information sharing, operational linkages, legal bonds, and relationship-specific adaptations.

Question 10

When a large aircraft manufacturer like Boeing obtains a contract to build a new type of jet airliner,this 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 11

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 12

Creative Electronics has an idea for a new MP3 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 MP3 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.

Question 13

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-contract with an outside firm to produce goods or services rather than to produce them internally.

Question 14

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 15

A close buyer-seller relationship in a business market:

Accepted Answer

A close buyer-seller relationship in a business market may require relationship-specific adaptations by both parties, obligatory price reductions by the supplier, obligatory switching costs for the buyer, and negotiated contract buying.

Question 16

________ refers to reliably getting products there exactly before the customer needs them.

Accepted Answer

Just-in-time delivery means reliably getting products there just before the customer needs them.

Question 17

Which of the following statements about operational linkages is FALSE?

Accepted Answer

Operational linkages usually involve ongoing coordination of activities between the firms.

Question 18

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Accepted Answer

The five key dimensions that help characterize most buyer-seller relationships are cooperation, information sharing, operational linkages, legal bonds, and relationship-specific adaptations.

Question 19

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 20

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Accepted Answer

The five key dimensions that help characterize most buyer-seller relationships are cooperation, information sharing, operational linkages, legal bonds, and relationship-specific adaptations.

Quiz 8: Business and Organizational Customers and Their Buying Behavior

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Suppliers to business markets often

Operational linkages are ________.

When a purchasing manager knows roughly what is needed but can't describe it exactly-or when the purchasing arrangement may change as the job progresses-then buying is likely to be by ________

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

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

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

Creative Electronics has an idea for a new MP3 accessory.Now it is looking for a supplier to design and manufacture the product.It will most likely use ______________ buying.

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.

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:

A close buyer-seller relationship in a business market:

________ refers to reliably getting products there exactly before the customer needs them.

Which of the following statements about operational linkages is FALSE?

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?

Organizational buyers purchase the same product from more than one source

Which of the following is NOT a key dimension of buyer-seller relationships in business markets?