Business Marketing Management: B2B 11th Edition

The ____ is a comprehensive, periodic and systematic evaluation of the firm's marketing operation which analyzes the market environment and the firm's internal marketing activities. a. environmental audit b. marketing audit c. profit audit d. annual plan e. competitive audit Answer: B Answer: B Answer: B Which of the following describes where the firm competes? a. The business mission. b.

Which of the following is(are) characteristic of the marketing strategy that would be appropriate for a firm like Otis Elevator, which sells installations in the business market? a. Personal selling is the dominant promotional tool. b. Trade advertising and direct-mail advertising reinforce personal selling. c. Price is the central force in marketing strategy. d.

The primary levels of marketing control include: a. strategic control. b. annual plan control. c. efficiency and effectiveness control. d. profitability control. e. All of the above. Answer: E Answer: E Answer: E Consider this dilemma: A product manager finds that organizational buyers view a particular product attribute as being both important and differentiating; unfortunately, the firm's brand is

The supply chain includes a variety of firms, ranging from those that process raw materials to make component parts to those engaged in wholesaling. Included also are organizations engaged in: a. warehousing. b. transportation. c. materials handling. d. all of the above. e. (a) and (b) only. Answer: D Answer: D Answer: D The underlying premise of SCM is

Upon meeting with a General Electric buyer, a salesperson learned that the G.E. purchasing function is unhappy with the supplier's performance and is openly considering new options. This provides an illustration of: a. a new task buying situation. b. a straight rebuy. c. a modified rebuy. d. extended problem solving. e. value analysis. Answer: C Answer: C Answer:

In regard to logistical service, the business marketer should: a. provide the same level of logistical service to all customers. b. adjust the level of logistical service for different segments based on requirements of the product type. c. adjust the level of logistical service for different segments based on requirements of the customer. d.

_____ involves sourcing a product from a producer located in a foreign country for sale there or in other countries. a. Contract manufacturing b. Exporting c. Franchising d. A joint venture e. A turnkey operation Answer: A Answer: A Answer: A All of the following are dimensions relevant to the definition of a product-market except: a. customer function. b. technological. c. customer

Which sales forecasting approach is effective when intimate knowledge of customer plans is important? a. executive judgment b. Delphi method c. time series d. sales force composite e. causal analysis Answer: D Answer: D Answer: D Market-driven firms attempt to match their resources, skills, and capabilities with: a. competitive intelligence. b. customers needs that are not currently being served adequately. c. derived

The organizational buyer may read every word of the ad copy, and find a meaning in it quite opposite from that intended by the advertiser. Answer: T Answer: T Answer: T Innovative approaches to tighten the distribution process, bolstering links with suppliers and customers, and integrating production and marketing is described by the term ____________________management. Answer:

Robert Morgan and Shelby Hunt suggest that relationship commitment and trust develop when: a. firms align themselves with partners that have distinctly different corporate values. b. firms share valuable information on expectations, markets, and performance. c. firms offer benefits and resources that are superior to what other partners could offer. d. all of the

The industrial chemical industry in England shows a fairly regular rise and fall in demand over four- or five-year periods. This provides an illustration of the _____ component of a time series. a. trend b. cycle c. random d. seasonal e. irregular Answer: B Answer: B Answer: B A(n) _____ represents the products, services, ideas, and solutions that a

What roles do account managers play in the selling organization? What are some of the characteristics and factors that separate high performing account managers from other account managers? Answer: n/a Salespersons tend to have a higher level of job satisfaction when they perceive that their first-line supervisor closely directs and monitors their activities. Answer: T Answer:

A central challenge for the business marketer during the strategy formulation process is to minimize interdepartmental conflict while fostering shared appreciations of the interdependencies with other functional units. Explain. Answer: n/a A large consumer goods company recently entered the business market with a new product with broad industrial application. They must develop a

Which of the following would qualify as facilitating goods? a. Fixed equipment. b. Component materials. c. Raw materials. d. Operating supplies. e. Office equipment. Answer: D Answer: D Answer: D The composition of the buying center: a. evolves during the purchasing process. b. varies from one purchasing situation to another. c. varies from firm to firm. d. All of the above are true. e.

Key influencers are frequently located outside of the____________________department. Answer: Purchasing Answer: Purchasing Answer: Purchasing To sustain profitability, price reductions should be avoided by strategists in hypercompetitive environments. Answer: F Answer: F Answer: F Middle management typically has the primary responsibility for efficiency and effectiveness control. Answer: T Answer: T Answer: T Derivative projects establish new core products and new core processes that

Subcultures exist when one subunit shares different values, beliefs, and goals than another subunit, resulting in different____________________. Answer: thought-worlds Answer: thought-worlds Answer: thought-worlds Not all products nor all customers require the same level of logistical service. Answer: T Answer: T Answer: T Using a product example and market setting of your choice, describe the underlying logic of forecasting

____________________cost systems reveal the links between performing particular activities and the demands those activities make on the organization's resources. Answer: Activity-based Answer: Activity-based Answer: Activity-based The cost of research is greater at the macrolevel of segmentation than at the microlevel. Answer: F Answer: F Answer: F A source of conflict between business marketers and their manufacturers' representatives centers

The BCG Global Advantage Diamond portrays the key elements that must be developed and integrated to secure a strong position in global markets. This framework includes a. A market access element b. A market relevancy element c. A resource accuracy element d. All of the above e. None of the above Answer: A Answer: A Answer: A Competitors are

Which of the following statements concerning trade shows is(are) accurate? a. The cost of reaching a prospect at a trade show less than the cost of making a personal sales call. b. Over 83 percent of all trade show visitors have some buying authority. c. The average company participates in 45 trade shows

The organizational buying process, which ultimately may lead to the purchase of a new computer, could be set into action by: a. the existing computer breaking down. b. a new cost accounting system. c. an IBM sales presentation. d. (a) and (b) only. e. any of the above. Answer: E Answer: E Answer: E In serving JIT customers, business

Speed of service is usually more important that service consistency. Answer: F Answer: F Answer: F A measure of the physical conditions of the product when received by the buyer is known as____________________, this common element of logistics service. Answer: Damage Answer: Damage Answer: Damage Some business models demonstrate more profit potential than others: Southwest Airlines is more

In specifying channel alternatives, which of the following issues is(are) involved? a. determining the levels to be included in the channel b. determining the number of channel intermediaries at each level of the channel c. determining the types of intermediaries to employ d. all of the above e. (a) and (b) only Answer: D Answer: D Answer: D The

Relationship commitment involves a partner's belief than an ongoing relationship is so important that it deserves maximum efforts to maintain it. Answer: T Answer: T Answer: T Cassidy Computer Systems has witnessed a gradual decline in the performance of its sales force since a key sales manager left the company for another position. While

Conrad Spring produces manufactured materials and parts for diverse customer groups in the business market, ranging from automobile manufacturers and household appliance producers to toy makers and medical equipment specialists. Describe the nature of marketing strategy for industrial goods of this type. Answer: n/a Brand attitude is defined as the percentage of organizational

Influencers control information to be reviewed by other members of the buying center. Answer: F Answer: F Answer: F An industrial firm's first foray into an overseas market usually involves____________________because it requires the least commitment and risk. Answer: exporting Answer: exporting Answer: exporting Platform projects create the design and components that are shared by a set of products.

The use of law firms or advertising agencies by business marketers constitutes what type of industrial good? a. Facilitating goods. b. Entering goods. c. Foundation goods. d. Installations. Answer: A Answer: A Answer: A Which of the following is NOT true of the solutions-centered approach instead of a product-centered approach? a. Win by creating and delivering superior customer solutions. b.

____________________offer a number of benefits, such as access to markets or technology, economies of scale in manufacturing and marketing, and the sharing of risk among partners. Answer: Strategic alliances Answer: Strategic alliances Answer: Strategic alliances Kathleen Eisenhardt argues that in fast-paced high-technology markets, 'strategy is a video game." Strategic decision making is often described

The _____ is the product dimension of service, including decisions about the essential concept of the service, the range of services provided, and the quality and level of the service. a. service strategy b. service package c. service recovery d. service bundling e. service loyalty Answer: B Answer: B Answer: B Common challenges for marketers using the marketing strategy

The environmental forces that influence organizational buying behavior include: a. economic factors. b. political and legal factors. c. technological factors. d. all of the above. e. (a) and (b) only. Answer: D Answer: D Answer: D The evaluative criteria that engineers apply to a purchasing decision may be quite different from those used by purchasing managers because engineers: a. are

Personal selling is less important for supplies than it is for other categories of goods, such as installations. Answer: T Answer: T Answer: T Since purchasing managers are evaluated and rewarded on the basis of cost savings generated, why are they often willing to overlook the low-price supplier in favor of a higher-priced supplier

The benefits of having a trade show exhibit to business marketers include: a. the ability communicate with a large and interested audience. b. free publicity. c. the generation of sales leads. d. All of the above. e. Only (a) and (c). Answer: D Answer: D Answer: D Industrial products and services can be broadly classified as: a. upstream, downstream, and

Included among the contractual modes of international market participation are: a. licensing. b. management contracts. c. exporting. d. all of the above e. both (a) and (b) Answer: E Answer: E Answer: E A model of "lead efficiency" is calibrated using the firm's: a. historical sales lead and lead conversion-to-sale data. b. total number of sales booths at past shows. c. gross