Question 1

The Internet provides a powerful tool for conveying information,conducting transactions,delivering innovative services,building customer and supplier relationships,gathering marketing data,and reducing costs and prices.

Accepted Answer

The statement is true. The internet has revolutionized many aspects of business operations and has become an essential tool for businesses to thrive and reach a global audience.

Question 2

More business buying and selling is done on the Internet than off-line.

Accepted Answer

The answer of More business buying and selling is done...

Question 3

The emergence of the Internet has made buying and selling in the business market a process that is efficient only for the largest producer to pursue.

Accepted Answer

The emergence of the Internet has made buying and selling in the business market a process that is efficient for all producers to pursue, regardless of their size. The internet has opened up new opportunities for small and medium-sized businesses to sell their products and services online and reach a wider audience. Therefore, buying and selling on the internet is not limited to the largest producers only.

Question 4

NAICS is an industry classification system used by most nations of the world.

Accepted Answer

NAICS, or the North American Industry Classification System, is specifically used by the United States, Canada, and Mexico to classify businesses for the purpose of collecting, analyzing, and publishing statistical data related to the economy.

Question 5

A keiretsu is an example of how strategic alliances can make efficient use of relationship marketing.

Accepted Answer

A keiretsu is a Japanese business network that allows companies to collaborate and share resources. It is an example of how strategic alliances can lead to efficient use of relationship marketing since companies within the keiretsu have a strong bond and work together towards common goals, building strong relationships with each other and their customers.

Question 6

Grote manufactures a slicing machine for any boneless food.The machine will cut up to 1,200 slices per minute and is portable in that it can be rolled out of the work area when it is not in use.The wheels are specially made to meet federal safety requirements.
-Refer to Slicers.A decline in the availability of the specialized wheels will slow down the production of the slicing machines and in turn reduce the sales of the blades that fit in the machine.What type of demand exists?

Accepted Answer

Joint demand occurs when the demand for one product is directly linked to the demand for a related product. In this case, the demand for the slicing machine blades is directly tied to the demand for the slicing machines themselves.

Question 7

Grote manufactures a slicing machine for any boneless food.The machine will cut up to 1,200 slices per minute and is portable in that it can be rolled out of the work area when it is not in use.The wheels are specially made to meet federal safety requirements.
-Refer to Slicers.A company that uses a Grote brand meat slicing machine typically buys a replacement blade once a year and has done so for the last five years.A new company is offering a $200 blade for the Grote machine that is less expensive than buying one from Grote (a savings of about $50).It is time to buy a new blade,and Sara is in charge of the purchase.What will she most likely be engaging in?

Accepted Answer

A modified rebuy occurs when a company has bought a product before but is willing to consider new options. In this scenario, the company has purchased replacement blades from Grote for the last five years but is now considering a new option from a different company at a lower cost. Sara, in charge of the purchase, will most likely engage in a modified rebuy as she considers the new option and compares it to the previous supplier.

Question 8

Grote manufactures a slicing machine for any boneless food.The machine will cut up to 1,200 slices per minute and is portable in that it can be rolled out of the work area when it is not in use.The wheels are specially made to meet federal safety requirements.
-Refer to Slicers.You are assistant marketing research director of Grote.How can you find out who is in the buying centre at Walrose,a company that makes heat-and-serve meals that feature sliced chicken and/or turkey?

Accepted Answer

Contacting the operators of the meat processing equipment used at Walrose and probing them as to who was involved in the purchase of their present equipment is the best option to find out who is in the buying centre. Since they are the ones who handle the equipment and the purchasing process, they would have the most accurate information on who is involved in making these decisions. Options A, C, and D are not reliable sources of information for identifying the buying centre at Walrose.

Question 9

Several of the world's largest telecommunications equipment manufacturers are working together to build devices that will speed global Internet communications.This is an example of a strategic alliance.

Accepted Answer

The description states that the manufacturers are working together, which indicates a strategic alliance.

Question 10

PAS Systems has developed a club-like flashlight alcohol detector.The flashlight readings are inadmissible in court but are used by officers to decide whether to hold someone for a sobriety test.Each one costs $600.The manufacturer assembles a breathalyser from one supplier with a slightly modified flashlight case from another supplier to make the new product.
-Refer to Alcohol Detector.What are the breathalyser and the flashlight case examples of?

Accepted Answer

The breathalyser and flashlight case are both examples of component parts that are assembled together to create the final product.

Question 11

The government sector (federal,provincial,and municipal)is not considered a business segment.

Accepted Answer

The government sector, encompassing federal, provincial, and municipal levels, is considered a distinct segment in the economy, often referred to as the public sector, which provides services and regulates activities, differing from traditional business segments but still a crucial part of the economic landscape.

Question 12

The reseller market is the same as the retailer market.

Accepted Answer

While both markets involve the sale of products to end consumers, the reseller market involves the purchase of products from manufacturers or wholesalers by a third-party who then resells those products to retailers or directly to consumers. On the other hand, the retailer market typically involves the purchase of products directly from manufacturers or wholesalers and then selling those products to end consumers.

Question 13

The Internet has eliminated the need for distributors.

Accepted Answer

While the Internet has certainly disrupted the traditional roles of distributors, they still play a key role in getting products to consumers. Distributors often provide valuable services such as warehousing, logistics, and marketing that can't easily be replicated online. Additionally, some manufacturers prefer to work with distributors to help sell their products to a wider audience.

Question 14

White Wave is a small company that manufactures several flavours of soy milk coffee creamers for people who are lactose intolerant.
-Refer to Soy Products.White Wave typically places large orders for soy to manufacture its creamer.This order size would give White Wave an advantage over other buyers of soy and is an example of which of the following?

Accepted Answer

The given scenario describes a large purchase order of soy made by White Wave, which gives them an advantage over other buyers. This is an example of the purchase volume, which refers to the quantity of goods or materials purchased by a buyer at a given time. Therefore, option D is the correct answer. The other options, such as sales volume, joint demand, and fluctuating demand, do not accurately reflect the situation described in the scenario.

Question 15

PAS Systems has developed a club-like flashlight alcohol detector.The flashlight readings are inadmissible in court but are used by officers to decide whether to hold someone for a sobriety test.Each one costs $600.The manufacturer assembles a breathalyser from one supplier with a slightly modified flashlight case from another supplier to make the new product.
-Refer to Alcohol Detector.After seeing a prototype brought back by one of its employees from a highway safety convention,the Ontario Provincial Police decided to equip every officer with one.In this example,the individual who attended the convention had which roles in the buying centre?

Accepted Answer

The individual who attended the convention acted as a gatekeeper by bringing back the prototype and as an influencer by introducing the product to the organization, which led to the decision to equip officers with it.

Question 16

White Wave is a small company that manufactures several flavours of soy milk coffee creamers for people who are lactose intolerant.
-Refer to Soy Products.For White Wave,what is unflavoured soy milk,which was made from soybeans?

Accepted Answer

Unflavoured soy milk made from soybeans is a processed material as it undergoes several stages of processing before being packaged and sold as a final product.

Question 17

For a product to be called a business product,it must be used to manufacture other products,become part of another product,facilitate the normal operations of a firm,or be acquired for resale with no substantial change in form.

Accepted Answer

This is a correct statement that accurately describes what qualifies a product as a business product.

Question 18

Nelson Education sells its business textbooks to college bookstores,which in turn sell the books to students.Nelson Education is engaged in business marketing.

Accepted Answer

Nelson Education is engaged in business marketing as they are selling their textbooks to college bookstores for the purpose of student consumption.

Question 19

Any firm that purchases goods and services to make a profit by using them to produce other goods is part of the producer segment of the business market.

Accepted Answer

This is true. The producer segment of the business market includes firms that purchase goods and services to produce other goods which they will sell to consumers or other businesses.

Question 20

PAS Systems has developed a club-like flashlight alcohol detector.The flashlight readings are inadmissible in court but are used by officers to decide whether to hold someone for a sobriety test.Each one costs $600.The manufacturer assembles a breathalyser from one supplier with a slightly modified flashlight case from another supplier to make the new product.
-Refer to Alcohol Detector.Batteries for the flashlights would be an example of which of the following?

Accepted Answer

Batteries are a consumable item that would be classified as supplies, as they are not a major piece of equipment and not a component part that is integral to the functioning of the alcohol detector.

Quiz 5: Business Marketing