Question 1

You work for an airline company that has been leasing planes from two competing vendors.When a new vice president (VP)of communications joins your company,he asks for a performance review on the two vendors.You realize that your team has failed to keep thorough evaluations of the two companies,so you provide them with a formal evaluation tool and ask them to obtain feedback from the two companies.A few weeks later you obtain an evaluation letter from one of the vendors highlighting the following: The employees at our Cambodian site believe in our company's overall mission and are committed to employing cost cutting practices that do not forego our products' value.
Through minimizing time spent per product and by ensuring that all staff attend mandatory trainings,we have been able to cut costs by 30%,streamline internal business systems,increase customer loyalty,and increase customer satisfaction.
Which of the following items is missing from the performance evaluation?​

Accepted Answer

The answer of You work for an airline company that...

Question 2

Dell Computer purchases parts and resources for its computers from multiple suppliers that are spread across the world.This practice is known as:

Accepted Answer

Global sourcing refers to the practice of procuring goods and services from different locations around the world to take advantage of differences in cost and quality. Dell Computer purchases parts and resources from multiple suppliers that are spread across the world, making it an example of global sourcing. Offshoring and outsourcing refer to the relocation of business processes to foreign countries, while reciprocity refers to the practice of exchanging resources or favors between companies.

Question 3

LifeCare,a small chain of hospitals,is looking to buy new medical equipment for its hospitals.The company decides to look for various options available in the market rather than buying from their usual supplier,as they want new,sophisticated features in the products.This buying situation in which the purchaser is willing to reevaluate its available options is an example of _____.

Accepted Answer

This is an example of modified rebuy, as the purchaser is reevaluating its available options instead of making the same purchase that they usually make (straight rebuy). Business process reengineering and cross-docking are not relevant to this scenario.

Question 4

Resellers are marketing intermediaries who mostly buy finished goods and resell them for a profit.Their business structure means that they must consider several factors when deciding which products to buy.Which of the following factors is a reseller least likely to consider? ​

Accepted Answer

Resellers are generally not responsible for charging sales tax on products they sell - this is usually the responsibility of the manufacturer or distributor. Therefore, it is unlikely that resellers would consider the sales tax when deciding which products to buy. The other factors listed - demand, storage space, product mix, and technical assistance/training - are all important considerations for resellers when choosing which products to add to their inventory.

Question 5

​After buying sterile gloves from one vendor for many years,Mercy Hospital has now decided to search for a lower-cost supplier.Which of the following is an accurate classification of Mercy's buying situation?

Accepted Answer

Mercy Hospital is moving from straight rebuying (buying from the same vendor without any evaluation of alternatives) to modified rebuying (seeking alternative suppliers for cost reduction).

Question 6

The organizational buying process differs from the consumer purchase process as the organizational buying process:

Accepted Answer

The organizational buying process is more complex and involves multiple decision makers as compared to the consumer purchase process. The decisions are usually made after a thorough evaluation of different options and require a longer time frame. Therefore, option C is the correct answer. Option A, B and D are incorrect as they do not describe the characteristics of the organizational buying process accurately.

Question 7

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.​

Accepted Answer

Outsourcing refers to the practice of contracting out a business function or service to an external provider. By outsourcing, a company can benefit from cost savings, access to specialized expertise, and the ability to focus on core competencies. Therefore, A) Outsource is the best choice for the given scenario.

Question 8

The first stage in the eight-stage model of an organizational buying process involves:

Accepted Answer

The first stage in the eight-stage model of an organizational buying process is anticipating a problem, need, or opportunity, and a general solution. This stage involves identifying a gap between the current situation and the desired situation, and identifying potential solutions to address this gap. It is only after this stage that the organization moves on to determining the characteristics and quantity of a needed good or service, and establishing specifications for it. Searching for and qualifying potential sources comes later in the buying process.

Question 9

A negotiation process wherein each marketer develops its offer,including a price that will satisfy the criteria determined by the customer's problem,need,or opportunity,is known as:

Accepted Answer

Competitive bidding is a negotiation process where marketers or suppliers submit their bids or offers, including prices, in response to a customer's defined needs or problems. The customer then selects the offer that best meets their criteria, often considering factors like price, quality, and service. This process is common in various industries, especially in procurement and contracting scenarios, where the goal is to ensure transparency and fairness while obtaining the best value.

Question 10

Which of the following locations would be ideal for a U.S.firm hoping to nearshore its operations?

Accepted Answer

Mexico is the best choice for a U.S. firm hoping to nearshore its operations. Mexico has a favorable geographic proximity to the United States, a skilled workforce, lower labor costs compared to the United States, and a stable political and economic environment. Additionally, Mexico has a well-developed manufacturing industry and a strong trade relationship with the United States.

Question 11

Amy Lou works for a small business firm that specializes in the home furnishing design business.Amy Lou is the head of the textiles department and coordinates with twenty-five textile manufacturers around the world to ensure that her firm has the best supplies on the market.Each quarter,Amy Lou meets with each of the manufacturers and then brings back her top picks to share with the rest of her team at her company.The company's owner values Amy Lou's opinions,especially since the company's profits have continually increased for ten years.This year; however,the company's overhead costs have increased,and Amy Lou and her team need to figure out why. Required:
Which of the following can be said is a drawback of having Amy Lou serve in the role described above?​

Accepted Answer

Amy Lou controlling all the information about textile purchases can be a drawback as it centralizes decision-making and may limit diverse input or checks and balances, potentially leading to biased or uninformed decisions.

Question 12

Texas Instruments produces electronic chips used in a variety of devices,from cell phones to hand calculators.The specifications of the chips change depending on the final product in which they are utilized.The company is most likely to segment its customers based on:

Accepted Answer

Texas Instruments is most likely to segment its customers based on end-use application because the specifications of the chips change depending on the final product in which they are utilized. Therefore, segmenting customers based on the end-use application would be the most logical choice for them.

Question 13

​Paul is the quality-control specialist for a furniture manufacturer.His job is to develop specifications for every potential purchase of wood and fabric.Within the buying center,Paul plays the role of a(n):

Accepted Answer

Paul's role involves developing specifications for purchases, which means he influences the buying decisions by setting standards or criteria for what is bought. This makes him an Influencer within the buying center context.

Question 14

The General Services Administration (GSA)is a central management agency of the U.S.federal government that:

Accepted Answer

The General Services Administration (GSA) is responsible for procuring goods and services for the federal government as well as managing federal properties and information resources. Option A and D are not accurate as the GSA does not validate laws and regulations governing sales transactions or regulate purchases in specific industries. Option B is also not accurate as the GSA does not regulate purchases in the mining industry.

Question 15

Businesses follow a defined buying decision process in order to ensure the goods and services they purchase will meet their organization's needs.The process has multiple stages; in one of the stages the business will consider a proposal usually given to them in writing by a supplier.This stage may include competitive bidding depending on the company.This proposal consideration takes place in which of the following stages of the business buying decision process?​

Accepted Answer

The proposal consideration, including competitive bidding, typically occurs in the fifth stage of the business buying decision process, known as the "Proposal Solicitation" stage.

Question 16

_____ refers to a first-time or unique purchase situation that requires considerable effort by decision makers.

Accepted Answer

New-task buying refers to a situation where the buyer is making a purchase decision for the first time or in a unique situation, requiring considerable effort by decision makers to gather information and evaluate alternatives before making a purchase. Straight rebuying refers to a routine purchase made without much evaluation or consideration of alternatives. Modified rebuying refers to a situation where the buyer has purchased the product before but is now considering new alternatives or suppliers. Primary buying is not a commonly used term in the context of organizational buying.

Question 17

​Now that you've rented a larger office space,you've decided to outsource the cleaning task instead of hiring more janitors.Which of the following would not be a potential advantage of this decision?

Accepted Answer

Outsourcing cleaning services would not eliminate the challenges involved in managing contracts and relationships; it may actually introduce new ones.

Question 18

Institutions constitute another important market.Institutional buyers include a wide variety of organizations,such as schools,hospitals,libraries,foundations,clinics,churches,and not-for-profit agencies.A small software company develops computer programs for different business institutions.Which of the following challenges can this company anticipate?​

Accepted Answer

Different institutions have varying buying practices, which can be a challenge for the software company. Each institution may have its own purchasing procedures, decision-makers, and budgets. The company will need to understand and adapt to these differences to successfully sell its computer programs to institutional buyers.

Question 19

Nadine is an account manager with an insurance brokerage company who provides specialized services to K-12 public and private schools as well as churches and non-profit organizations.Which term best describes Nadine's target market?

Accepted Answer

Nadine's target market consists of institutions such as K-12 public and private schools, churches, and non-profit organizations. These are all examples of the institutional market, which includes organizations that exist for purposes other than making a profit.

Question 20

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n):

Accepted Answer

Janelle has the formal authority to select a supplier, which is the primary responsibility of a buyer in the purchasing department. Therefore, Janelle is a buyer.

Quiz 7: Business-To-Business B2bmarketing

Dell Computer purchases parts and resources for its computers from multiple suppliers that are spread across the world.This practice is known as:

Resellers are marketing intermediaries who mostly buy finished goods and resell them for a profit.Their business structure means that they must consider several factors when deciding which products to buy.Which of the following factors is a reseller least likely to consider?

After buying sterile gloves from one vendor for many years,Mercy Hospital has now decided to search for a lower-cost supplier.Which of the following is an accurate classification of Mercy's buying situation?

The organizational buying process differs from the consumer purchase process as the organizational buying process:

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.

The first stage in the eight-stage model of an organizational buying process involves:

A negotiation process wherein each marketer develops its offer,including a price that will satisfy the criteria determined by the customer's problem,need,or opportunity,is known as:

Which of the following locations would be ideal for a U.S.firm hoping to nearshore its operations?

Texas Instruments produces electronic chips used in a variety of devices,from cell phones to hand calculators.The specifications of the chips change depending on the final product in which they are utilized.The company is most likely to segment its customers based on:

Paul is the quality-control specialist for a furniture manufacturer.His job is to develop specifications for every potential purchase of wood and fabric.Within the buying center,Paul plays the role of a(n) :

The General Services Administration (GSA) is a central management agency of the U.S.federal government that:

_____ refers to a first-time or unique purchase situation that requires considerable effort by decision makers.

Now that you've rented a larger office space,you've decided to outsource the cleaning task instead of hiring more janitors.Which of the following would not be a potential advantage of this decision?

Nadine is an account manager with an insurance brokerage company who provides specialized services to K-12 public and private schools as well as churches and non-profit organizations.Which term best describes Nadine's target market?

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n) :

Quiz 7: Business-To-Business B2bmarketing

Dell Computer purchases parts and resources for its computers from multiple suppliers that are spread across the world.This practice is known as:

Resellers are marketing intermediaries who mostly buy finished goods and resell them for a profit.Their business structure means that they must consider several factors when deciding which products to buy.Which of the following factors is a reseller least likely to consider? ​

​After buying sterile gloves from one vendor for many years,Mercy Hospital has now decided to search for a lower-cost supplier.Which of the following is an accurate classification of Mercy's buying situation?

The organizational buying process differs from the consumer purchase process as the organizational buying process:

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.​

The first stage in the eight-stage model of an organizational buying process involves:

A negotiation process wherein each marketer develops its offer,including a price that will satisfy the criteria determined by the customer's problem,need,or opportunity,is known as:

Which of the following locations would be ideal for a U.S.firm hoping to nearshore its operations?

Texas Instruments produces electronic chips used in a variety of devices,from cell phones to hand calculators.The specifications of the chips change depending on the final product in which they are utilized.The company is most likely to segment its customers based on:

​Paul is the quality-control specialist for a furniture manufacturer.His job is to develop specifications for every potential purchase of wood and fabric.Within the buying center,Paul plays the role of a(n) :

The General Services Administration (GSA) is a central management agency of the U.S.federal government that:

_____ refers to a first-time or unique purchase situation that requires considerable effort by decision makers.

​Now that you've rented a larger office space,you've decided to outsource the cleaning task instead of hiring more janitors.Which of the following would not be a potential advantage of this decision?

Nadine is an account manager with an insurance brokerage company who provides specialized services to K-12 public and private schools as well as churches and non-profit organizations.Which term best describes Nadine's target market?

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n) :

Resellers are marketing intermediaries who mostly buy finished goods and resell them for a profit.Their business structure means that they must consider several factors when deciding which products to buy.Which of the following factors is a reseller least likely to consider?

After buying sterile gloves from one vendor for many years,Mercy Hospital has now decided to search for a lower-cost supplier.Which of the following is an accurate classification of Mercy's buying situation?

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.

Paul is the quality-control specialist for a furniture manufacturer.His job is to develop specifications for every potential purchase of wood and fabric.Within the buying center,Paul plays the role of a(n) :

Now that you've rented a larger office space,you've decided to outsource the cleaning task instead of hiring more janitors.Which of the following would not be a potential advantage of this decision?