Question 1

According to the textbook, JCPenney buys paper for which of the following media?

Accepted Answer

According to the textbook, JCPenney buys paper for newspaper inserts and direct mail pieces.

Question 2

When JCPMedia buys paper for JCPenney newspaper inserts, it considers suppliers' forest management and other sustainability practices. JCPMedia buyers consider these as part of the process to

Accepted Answer

JCPMedia buyers consider suppliers' forest management and sustainability practices as part of the process to formally evaluate paper supplier capabilities. This shows that JCPenney is committed to sustainable practices and only chooses suppliers who align with their values.

Question 3

"The choice of paper and suppliers is ____________ given the sizable revenue and expense consequences," notes Tom Cassidy, vice president-marketing production at JCPMedia, Inc.

Accepted Answer

The statement mentions that the choice of paper and suppliers has "sizable revenue and expense consequences," indicating that it is a significant marketing decision. Therefore, option B is the best choice.

Question 4

JCPMedia, Inc. paper buyers are thoroughly trained in

Accepted Answer

The text states that JCPMedia, Inc. paper buyers are thoroughly trained in "many facets of purchasing," which suggests a wide range of purchasing knowledge beyond just retail management or consumer decision practices. Shopping center management and break-even analysis are not mentioned at all in the passage.

Question 5

A firm that reprocesses a product or service it buys before selling the product again to the next buyer is referred to as

Accepted Answer

The answer of A firm that reprocesses a product or...

Question 6

All of the following are organizational buyers except

Accepted Answer

Organizational buyers refer to business or institutional customers that purchase products or services for use in their own operations or for resale to other customers. Ultimate consumers, or end consumers, are individuals who consume or use products or services for personal or household purposes, and not for resale or further processing. Therefore, ultimate consumers are not considered organizational buyers.

Question 7

Business-to-business marketing refers to

Accepted Answer

Business-to-business marketing refers to the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products that they can produce and market to others. This type of marketing involves selling goods or services to other businesses, rather than to individual consumers. The focus is on building relationships with other businesses and meeting their specific needs and requirements.

Question 8

Organizational buyers are divided into three markets, which are

Accepted Answer

The answer of Organizational buyers are divided into three markets,...

Question 9

Organizational buyers are

Accepted Answer

Organizational buyers purchase products and services for their own use or for resale, not exclusively for resale or their own use.

Question 10

The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others is referred to as

Accepted Answer

Business-to-business marketing refers to the marketing of goods and services to organizations for use in their own production processes or to resell to other businesses. This type of marketing involves building relationships with other businesses as customers, rather than selling directly to individual consumers.

Question 11

Which of these statements regarding organizational buyers is most accurate?

Accepted Answer

Wholesalers and retailers are considered organizational buyers because they buy goods to resell them without reprocessing or altering them. This differentiates them from manufacturers who may alter the goods they purchase or process them further before selling. Ultimate consumers do not purchase in large quantities and government agencies may have unique procurement processes, making their purchases different from both wholesalers and retailers.

Question 12

An industrial firm

Accepted Answer

An industrial firm reprocesses a product or service it buys before selling it again to the next buyer, distinguishing it from a firm that simply buys and resells goods without any changes.

Question 13

Which of the following organizational buyers purchases raw materials and parts to reprocess into the finished goods they sell?

Accepted Answer

Manufacturers purchase raw materials and parts to reprocess into the finished goods they sell. Retailers purchase goods to sell directly to the end consumer, wholesalers purchase goods in large quantities to sell to retailers or other businesses, agents facilitate transactions between buyers and sellers, and ultimate consumers purchase products for their own personal use.

Question 14

Manufacturers, farms, financial services, and fisheries are all examples of companies in the

Accepted Answer

Manufacturers, farms, financial services, and fisheries are all businesses that operate in the industrial market. This market involves companies that produce goods and services used by other businesses or organizations rather than by end consumers. These businesses often make purchases in large quantities and are more focused on the functional benefits and cost-effectiveness of the products or services they buy.

Question 15

Which of the following types of firms are in the industrial market?

Accepted Answer

Construction firms are in the industrial market as they are involved in the production of goods or services used in the construction industry. Retailing and wholesaling firms are in the consumer market as they sell products directly to individual consumers. State governments and federal regulatory agencies are not firms and do not participate in the market economy in the same way that businesses do.

Question 16

Purchasing paper for JCPMedia is one example of

Accepted Answer

Organizational buying refers to the buying process of goods and services for a business or organization, rather than for personal use. Purchasing paper for JCPMedia is an example of organizational buying as it is being bought for the business's use and not for personal use.

Question 17

Organizational buyers include manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that

Accepted Answer

Organizational buyers buy products and services for their own use or for resale. This includes a variety of different types of organizations, such as manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies. They do not necessarily purchase exclusively from one supplier, nor are they exempt from state and local taxes. Some may sell directly to ultimate consumers, but this is not the defining characteristic of organizational buyers.

Question 18

______________ in some way reprocess a product or service they buy before selling it again to the next buyer.

Accepted Answer

Industrial firms reprocess a product or service they buy before selling it again to the next buyer, as they often transform raw materials into finished goods.

Question 19

Which of the following represents an organizational buyer?

Accepted Answer

The owner of a sushi restaurant is a representative of an organizational buyer as he is purchasing a service for his business. The other options involve personal purchasing decisions rather than organizational buying.

Question 20

Manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

Organizational buyers are those who purchase products and services for their own use or for resale. This includes manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies. They differ from ultimate consumers, who purchase goods and services for their own personal use.

Quiz 6: Understanding Organizations As Customers