_____ 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
All of the following are dimensions relevant to the definition of a product-market
except:
a. customer function.
b. technological.
c. customer segment.
d. physical distribution system.
e. value-added system.
Effective sales training:
a. builds the confidence and motivation of the salesperson.
b. keeps the personal selling function aligned with marketing program objectives.
c. reduces the costs associated with recruiting.
d. all of the above
e. (a) and (b) only
With respect to induced strategic behavior, please identify the incorrect statement.
Induced strategic behavior:
a. exhibits communication that is consistent with the organizational work flow pattern.
b. is generally observed in conjunction with major types of innovations for new
markets.
c. typically involves formal organizational channels related to decision making.
d. follows established administrative procedures.
e. is characterized by well-defined roles for the participants in the strategy formulation
process.
Concerning manufacturing customers, the business market is:
a. concentrated by size.
b. geographically concentrated.
c. experiencing declining growth in many large metropolitan areas.
d. all of the above.
e. (a) and (b) only.
Which of the following characteristics of business customers is true?
a. A single purchase by a business customer is typically larger than that of an individual
consumer.
b. Demand for industrial products is derived from ultimate demand for consumer
products.
c. Relationships between business marketers tend to be close and enduring.
d. All of the above characteristics are true.
e. Only (a) and (b) are true.
Which of the following statements concerning the selection of industrial channel
structures is(are) true?
a. Frequently, the manager has little flexibility in the selection because of trade,
competitive, company, and environmental factors.
b. The channel should be viewed as a set of channel institutions rather than as a
sequence of activities to be performed.
c. Competitors often have the better intermediaries “locked up.”
d. all of the above
e. (a) and (c) only
Which of the following are means by which a marketer can implement a
microsegmentation strategy?
a. Importance of the purchase.
b. Attitudes toward vendors.
c. Organizational Innovativeness.
d. (a) and (b) only.
e. (a) and (c) only.
If organizational buyers view a particular attribute as being neither important nor
differentiating, an appropriate generic strategy for a product manager to follow would
be to:
a. increase the importance of the attribute to customers.
b. increase the difference between the competition and the firm’s brand.
c. convert this determinant attribute into a non-determinant one.
d. all of the above
e. (a) and (b)
The simple modified rebuy:
a. involves a narrow set of choice alternatives.
b. centers on a product of minor importance to the firm.
c. encompasses little or no information search or analysis.
d. all of the above.
e. (b) and (c) only.
Market segmentation is:
a. more useful to consumer goods marketers than to business marketers.
b. of little value to business marketers that concentrate on the governmental and
institutional sectors of the organizational market.
c. difficult to apply in the business market because groups, not individuals, make many
purchasing decisions.
d. a useful tool for both business and consumer goods marketers.
e. inappropriate for low market share firms.
Job satisfaction is theorized to decline when the salesperson’s perception of his/her role
is:
a. inaccurate in terms of the expectations of superiors.
b. characterized by conflicting demands among role partners that the salesperson cannot
possibly resolve.
c. surrounded by uncertainty due to a lack of information about the expectations and
evaluation criteria of superiors and customers.
d. all of the above.
e. (b) and (c) only.
Sales forecast data is used to:
a. distribute inventory.
b. manage stock levels.
c. directing the entire supply chain process.
d. all of the above.
e. (a) and (b) only.
Non-ownership is a unique service characteristic. From the following list, choose the
marketing implication most closely related to this characteristic.
a. Need to use promotion and pricing to even out demand patterns.
b. Need to emphasize the benefits of reduced labor and overhead.
c. Use strict quality control standards.
d. High-level training for service personnel.
Which of the following dimensions of a product market definition is(are) relevant?
a. the alternative technologies available to satisfy a particular need (technology
dimension)
b. the sequence of stages along which competitors serving the market can operate
(value-added system dimension)
c. the customer groups that have needs that must be served (customer segment
dimension)
d. all of the above
e. (a) and (c) only
Cisco and General Electric demonstrate special skills in forging relationships with
suppliers and alliance partners. This is an example of:
a. a value network.
b. relationship dynamics
c. a strategic asset.
d. a market scope.
The formation of organizational preferences and ultimately the organization’s buying
choice is determined by the _____ of the members of the buying center.
a. interaction structure
b. operating resources
c. relevant set
d. primary set
e. none of the above.
Benefits of solution-centered marketing strategy include:
a. new avenues for growth.
b. sustained differentiation and customer loyalty.
c. Both a and b.
d. Neither a or b.
_____ techniques have as their objective the determination of a relationship between
sales and one or more variables presumed to be related to sales.
a. Time series
b. Delphi
c. Causal
d. Qualitative
e. Trend extension
The choice of a particular international market entry mode depends on a range of
factors including the size of the market and its growth potential. Markets of limited size
surrounded by trade barriers may be supplied most cost effectively via:
a. licensing or contract manufacturing.
b. a local production and marketing subsidiary.
c. exporting.
d. selective distribution.
e. none of the above
A business marketer that provides erratic delivery service to industrial distributors:
a. increases the distributor’s inventory carrying costs.
b. creates stockouts at the distributor level.
c. damages channel relations.
d. all of the above
e. (a) and (c) only
When business marketers are assessing which of their current customers represent the
best opportunities for growth, which of the following factors should be considered?
a. The cost-to-serve the customer.
b. Projected profit margins.
c. The current share of the wallet the firm has attained.
d. All of the above.
e. Only (a) and (b).
Market-driven firms demonstrate:
a. the coordinated use of interfunctional resources (for example, research and
development, manufacturing).
b. a set of values and beliefs among employees that places the customer’s interests first.
c. the ability to generate, disseminate, and productively use superior information about
customers and competitors.
d. all of the above.
e. (b) and (c) only.
The supply chains for products that could be categorized as “innovative” (e.g.,
high-tech products) differ from the supply chains for functional products because:
a. demand is less predictable for innovative products.
b. attention centers on capturing high profits during peak demand periods for the
innovative product.
c. minimizing inventory costs is not a major concern with innovative products.
d. all of the above
e. (a) and (b) only
All of the following are elements that determine how a firm chooses to compete except:
a. the business mission.
b. the product scope.
c. the basis for differentiation.
d. the core process processes.
_____ are generally small, independent businesses serving narrow geographic markets.
a. Distributors
b. Channel partners
c. Manufacturers’ representatives
d. Broker houses
e. Field offices
An implication of relationship marketing is:
a. that sellers do not require an intimate knowledge of a customer’s operations.
b. that a sale signals the beginning of a relationship, rather constituting the end result.
c. the building of one-to-one relationships.
d. all of the above.
e. (b) and (c) only.
In the hierarchy of strategies, _____ strategy centers on how resources allocated to
various functional areas can be used most effectively and efficiently to support the
strategy of a strategic business unit.
a. functional
b. corporate
c. business-level
d. product
e. divisional
Which of the following is a benefit of effective segmentation?
a. The mere attempt to segment business market forces the marketer to become more
attuned to the unique needs of customer segments.
b. Knowledge of the needs of particular market segments helps the business
appropriately train and deploy the salesforce.
c. It allows the business marketer to focus on product development efforts.
d. all of the above.
e. (b) and (c) only.
When organizational buyers consider changes from one selling firm to another, what are
the two main categories of switching costs they consider?
a. Trust and relationship commitment
b. Transactional and collaborative relationships
c. Investments and risk of exposure
d. Operational linkages and relationship connectors.
Channel member motivation begins with the understanding that the channel relationship
is a partnership.
Custom-built items are created to meet the needs of one or a small group of customers.
Customized, high-technology products-like semiconductor test equipment-fit the
transactional exchange category.
The realized net savings after logistics costs, other management costs, and import duties
involved in moving the product from the RDE to the market destination is referred to as
____________________costs.
In time series analysis, the seasonal component represents regular, recurring movements
within the year.
“Lead users” are consistent early adopters of new technologies.
____________________combine products and services into innovative value
propositions for customers .
Configuration centers on where each activity is performed, including the number of
locations.
The strategy map, when coupled with the measures and targets from the balanced
scorecard, provides a valuable framework for the strategist.
The second step of the strategy process is defining the
customer____________________for target customer segments, in effort to generate
revenue from existing customers.
A disruptive innovation targets demanding, high-end customers with better performance
than was previously available.
This type of equipment is generally less expensive and is short-lived compared with
installations, and is not considered part of the fixed plant:
Most industrial firms spend roughly the same amount of dollars on advertising as they
do on personal selling.
Supply chain management can improve overall company performance in two
fundamental ways: ____________________ and ____________________.
Hybrid service offerings can be classified on the basis of whether the provider promises
to perform a deed or to achieve a certain performance outcome.
Instances where the customer has direct contact with either the product or service itself
or with representatives of it by a third party, such as a channel partner are known
as____________________.
Compare and contrast the different qualitative sales forecasting techniques that are used
by business marketing managers. Be sure to note the strengths and limitations of each
technique.
Answer:
n/a
Supply chain management may require that all firms in the supply chain share sensitive
and proprietary information about customers and corporate strategic plans.