Question 1

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

Accepted Answer

Key term definition-industrial firms.

Question 2

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 process them into finished goods that they later sell. Retailers, wholesalers, and agents do not typically purchase raw materials and parts for this purpose. Ultimate consumers do not purchase materials or parts for any production purpose.

Question 3

Manufacturers,wholesalers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

Organizational buyers are defined as buyers who purchase goods and services for their own use, or for resale to others, in the operation of a business, government agency, or other institution. This includes manufacturers, wholesalers, retailers, and government agencies.

Question 4

Kim Nagele,the senior sourcing manager at JCPenney,purchases tons of publication paper annually at a cost of hundreds of millions of dollars.As described and inferred in the textbook,Mr.Nagele performs all of the following roles in the JCPenney buying center EXCEPT:

Accepted Answer

Kim Nagele, as a senior sourcing manager, is likely involved in roles such as gatekeeper, influencer, buyer, and decider, but not as a user, since he is responsible for purchasing and not directly using the publication paper.

Question 5

The size and number of JCPenney direct mail pieces like catalogs that are designed and mailed to consumers would determine how much paper JCPenney needs to buy.This is an example of __________.

Accepted Answer

Derived demand refers to the demand for a product or service that is created as a result of the demand for another product or service. In this case, the demand for paper by JCPenney is derived from the demand for their direct mail pieces. The size and number of these mail pieces will directly impact how much paper JCPenney needs to purchase, making it an example of derived demand.

Question 6

Organizational buyers can be divided into three different markets,which are

Accepted Answer

Organizational buyers are typically categorized into industrial, reseller, and government markets. Industrial markets involve businesses purchasing goods for production, resellers buy to sell again, and government markets involve purchases by government entities.

Question 7

According to the textbook,JCPenney buys paper for which of the following medium(a)?

Accepted Answer

The textbook states that JCPenney buys paper for newspaper inserts and direct mail pieces.

Question 8

JCPenney looks at several capabilities when selecting a paper supplier.These organizational buying criteria include on-time delivery,the availability,quality and quantity of selected grades of paper,the firm's forestry management and sustainable practices,and price.This examination would be done during the __________ stage of the organizational buying decision process.

Accepted Answer

The examination of various capabilities of suppliers, such as on-time delivery, quality, and sustainable practices, is part of the alternative evaluation stage, where different suppliers are compared based on specific criteria.

Question 9

Which of the following types of firms comprises an industrial market?

Accepted Answer

Industrial market refers to the market where goods are purchased for business purposes. Transportation firms are an important part of the industrial market as they provide essential services for businesses to transport goods from one place to another. Retailing and wholesaling firms are part of the consumer market, while state governments and federal regulatory agencies are not considered as part of any market.

Question 10

Which of these statements regarding organizational buyers is most accurate?

Accepted Answer

Wholesalers and retailers buy goods from manufacturers or other suppliers and then resell them to consumers without reprocessing or altering them. Organizational buyers are businesses or institutions that purchase goods and services to use in their own operations or to resell to others, and can include wholesalers, retailers, manufacturers, and government agencies.

Question 11

All of the following are organizational buyers EXCEPT:

Accepted Answer

Organizational buyers refer to businesses or institutions that purchase goods or services for their own use or resale. Industrial firms, government units, resellers, and wholesalers are all examples of organizational buyers. Ultimate consumers, on the other hand, are individuals or households who purchase goods or services for their personal use and are not considered organizational buyers.

Question 12

When JCPenney buys paper,it considers suppliers' forest management and other sustainability practices.For JCPenney,these are important

Accepted Answer

Organizational buying criteria are the factors that organizations consider when making purchasing decisions. Sustainability practices are becoming increasingly important criteria for many companies, including JCPenney, as they strive to become more environmentally responsible and help preserve natural resources for future generations.

Question 13

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 marketing, also known as organizational marketing, involves marketing products and services to organizations or businesses for use in the production of goods and services. This form of marketing is different from marketing to individual consumers as the focus is on building relationships with other businesses to improve sales and revenue.

Question 14

An industrial firm

Accepted Answer

An industrial firm reprocesses a product or service it buys before selling it again to the next buyer. A is incorrect because independent ownership and title to merchandise sold does not necessarily make it an industrial firm. B is incorrect because an industrial firm engages in reprocessing of a product or service. C is incorrect because dealing with governments exclusively does not define an industrial firm. E is incorrect because an industrial firm can produce both a product and a service.

Question 15

Organizational buyers refer to

Accepted Answer

Organizational buyers are businesses or government agencies that purchase goods and services for their own use or for resale. This includes manufacturers, wholesalers, retailers, and government agencies. Option A is incorrect as it states that organizational buyers purchase goods exclusively for resale, which is not always the case. Option C is also incorrect as it states that organizational buyers only purchase goods for their own use, which is not true either. Option D and E are not accurate as they do not specifically refer to organizational buyers.

Question 16

A business market is also referred to as

Accepted Answer

The answer of A business market is also referred to...

Question 17

Mining companies,farms,financial services,and fisheries are all examples of

Accepted Answer

Industrial markets refer to businesses that purchase goods and services to use in their own production processes or to resell to others. Mining companies, farms, financial services, and fisheries are all examples of businesses that operate in industrial markets.

Question 18

Business marketing refers to

Accepted Answer

Option C defines business marketing as the marketing of goods and services to other organizations (companies, governments, or not-for-profit organizations) for use in the creation of goods and services that they can produce and market to others. It involves developing relationships between businesses and their customers and building trust and loyalty to ensure repeated business transactions. Options A, B, D, and E do not fully capture the concept of business marketing.

Question 19

Which of the following represents an organizational buyer?

Accepted Answer

The owner of a fried chicken restaurant is making a business purchase on behalf of their organization, making them an organizational buyer.

Question 20

Organizational buyers include manufacturers,wholesalers,retailers,and government agencies that

Accepted Answer

Organizational buyers can purchase goods and services for their own use or for resale. This includes manufacturers, wholesalers, retailers, and government agencies. They are not necessarily exclusive to one supplier and may be subject to state and local taxes. They do not sell directly to ultimate consumers, but rather purchase products for their own use or to sell to other businesses or consumers.

Quiz 6: Understanding Organizations As Customers