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 above.
e. (b) and (c) only.
Large buying organizations may possess unique requirements and respond to different
marketing stimuli than small firms. Research suggests that the degree of influence of
presidents, vice presidents, and owners _____ with an increase in corporate size.
a. remains constant
b. increases
c. decreases
d. none of the above
Transactional exchange features very close:
a. information linkages.
b. social linkages.
c. operational linkages.
d. all of the above.
e. none of the above.
The final stage in the adoption of supply chain management where companies have
successfully aligned both their internal and external processes is called:
a. the Expanded Enterprise stage.
b. Internal Process Integration stage.
c. the Informal stage.
d. the Functional stage.
e. the Customer Relationship Management stage.
In time series analysis, the _____ component indicates the long-term general direction
of the data.
a. trend
b. cycle
c. seasonal
d. irregular
e. causal
Indices of trade show performance include:
a. attraction.
b. contact.
c. conversion efficiency.
d. All of the above.
e. Only (b) and (c).
For a low-end disruptive innovation strategy to work, which of the following
requirements must be met?
a. There needs to be customers at the low end of the market who are eager to purchase a
“good enough” product for a lower price.
b. The company must be able to create a business model to make profits at a discount
price.
c. Both a and b.
d. Neither a or b.
Business marketing strategy must be based on an assessment of the:
a. customer.
b. competitor.
c. company.
d. all of the above.
e. (b) and (c) only.
As the risk associated with an organizational purchase decision increases, which of the
following occur?
a. The buying center becomes smaller.
b. The information search is a active and a wide variety of information sources are
consulted.
c. Buying center participants invest greater effort.
d. All of the above occur.
e. Only (b) and (c) occur.
When compared to a traditional selling focus, a key account selling focus is different in
which of the following ways?
a. Uses a longer-term time horizon.
b. Wants to lower customer’s total costs.
c. Individual salesperson is primary link to customer organization.
d. All of the above.
e. Only (a) and (b).
Which of the following issues pose problems to firms trying to manage joint venture
relationships?
a. Disagreements over profit-sharing.
b. Opening up of new market opportunities.
c. Problems responding to changing market needs.
d. All of the above.
e. (b) and (c) only.
Which of the following capabilities are particularly critical to the successful launch of
hybrid service offerings:
a. Design-to-service capability.
b. an assessment of the impact of demand elasticity on price changes.
c. Production capacity evaluation.
d. Customer engagement in the design process.
e. the marketing of two or more services in a “package” for a special price.
Selecting the best channel of distribution to accomplish objectives can be difficult
because:
a. the alternatives are so numerous.
b. marketing goals differ.
c. separate channels must often be used concurrently.
d. All of the above.
e. Only a and b.
A direct sales force is best used for:
a. highly standardized solutions.
b. small customers.
c. simple transactions.
d. complex products.
Which of the following statements regarding the perishability of services is incorrect?
a. Capacity is a substitute for inventory.
b. The demand for services is often predictable and consistent.
c. If capacity is set for peak demand, a service inventory must exist to supply the
highest level of demand.
d. all of the above.
e. (a) and (c) only.
Both behavior-based and outcome-based measures are used by sales managers to
evaluate salesperson performance. When the system is outcome-based, the sales
manager:
a. employs objective measures (sales results, market share gains) to evaluate
performance.
b. directly monitors the activities of salespeople.
c. uses subjective measures of salesperson performance.
d. emphasizes a compensation system with a large fixed component.
e. measures the self-esteem and verbal intelligence of each salesperson.
The policy of using a skimming pricing approach when a product is introduced,
followed by penetration pricing as the product matures, is referred to by Joel Dean as:
a. product differentiation.
b. market segmentation.
c. time segmentation.
d. price administration.
e. life cycle pricing.
An advantages of joint ventures is:
a. they include the only path of entry into many foreign markets.
b. they open up market opportunities that neither partner to the venture could purse
alone.
c. they transfer knowledge to the partner.
d. all of the above.
e. (a) and (b) only.
If marketing implementation is poor:
a. management may never become aware of the soundness of the strategy.
b. the cause of failure is hard to diagnose because poor strategy might be masked by the
inability to execute.
c. management can usually see the problem immediately.
d. all of the above
e. (a) and (b) only
The price elasticity of demand:
a. is not the same at all prices.
b. varies by industrial market segment.
c. is relatively easy to measure in the industrial market.
d. all of the above
e. (a) and (b) only
Concerning the allocation of the publication budget among various journals,
a. the cost-per-thousand calculation should be based on circulation to the total audience.
b. the cost-per-thousand calculation should be based on circulation to the target
audience.
c. the comparison of alternative journals can readily be made by examining their actual
page rates (cost-per-page).
d. the comparison of alternative journals can readily be made by examining total
circulation.
e. publications with low circulation levels should be avoided.
The distinguishing characteristic(s) of foundation goods is(are) that they:
a. are capital items.
b. are expense items.
c. become part of the finished product.
d. Both (a) and (c) are true.
e. All of the above are true.
_____ is the dynamic process of developing new channels where none existed and
modifying existing channels.
a. Channel structure
b. Channel design
c. Channel choice
d. Channel partnering
e. Supply chain management
The Internet has allowed business marketers to realize several supply chain related
benefits, including more timely:
a. product development.
b. access to new customer segments.
c. reduction in communication and customer support costs.
d. all of the above.
e. (b) and (c) only.
When each industrial salesperson performs all of the selling tasks associated with all of
the firm’s products, and performs these tasks for all customers in a particular territory,
the sales force is organized on:
a. a customer basis.
b. a market-centered basis.
c. a geographical basis.
d. a product basis.
e. a cluster basis.
The ____ defines the general benefits the service company will provide in terms of the
bundle of goods and services sold to the customer.
a. customer-benefit concept
b. service offer
c. cross-selling concept
d. mixed bundling concept
e. service concept
The process that translates marketing plans into action assignments and ensures that
such assignments are executed in a manner to accomplish a plan’s defined objectives is
called:
a. marketing control.
b. marketing implementation.
c. strategic marketing.
d. marketing accountability.
e. competitive advantage.
With little or no additional processing, ____ can be installed directly into another
product.
a. component parts
b. component materials
c. operating equipment
d. light factory equipment
e. all of the above
When organizational buyers have well developed choice criteria to apply to the
purchase decision, they are operating in a stage of problem solving known as:
a. cerebral response behavior.
b. limited response behavior.
c. selective response behavior.
d. routine response behavior.
e. extended response behavior.
The buying motives for major installations center on:
a. emotional factors.
b. purely economic or rational considerations.
c. a blend of rational and emotional factors.
d. the initial price and cost.
e. projected maintenance and operating costs.
_____ involve the creation of the know-how and know-why of new materials and
technologies that eventually translate into commercial development.
a. Platform projects
b. Breakthrough projects
c. Research and development projects
d. Derivative projects
Brand ____________________represents the strength of the psychological bond that a
customer has with a brand and the degree to which this connection translates into
loyalty, attachment, and active engagement with the brand.
If the requirements of segmentation are met, it should provide the business marketer
with valuable guidelines for allocating marketing resources.
Many marketing plans fail because they are poorly implemented. Explain the special
implementation challenges that emerge for managers operating in the business
marketing environment.
Answer:
n/a
In China’s steel industry, their main source of competitive advantage is due not to cheap
labor, but rather massive government energy ____________________.
Salesperson job satisfaction decreases when there is increased uncertainty about
expectations and the length of the product line increases.
Supply chain management, as a source of competitive advantage, should be seen as a
source of revenue as well as a means of reducing costs.
Important implementation skills for marketers include interacting, allocating, and
monitoring.
Along with consumer-goods names like Nike or Coca Cola, the world’s most valuable
brands include high-tech representatives such as Intel, Hewlett-Packard, IBM, and
Microsoft. Describe the attributes of a strong high-tech brand. Do the investments in
building a high-tech brand pay off? Explain.
Answer:
n/a
The balanced scorecard provides managers with a performance measurement system
that can be linked to a company’s business marketing strategies. Identify and briefly
describe the four perspectives of performance in the balanced scorecard. Next, explain
how each perspective can help business marketers with their business strategies.
Answer:
n/a
Options for entry into foreign markets range from exporting to global strategies.
Explain how commitment, complexity, risk, and control changes as firms move across
the spectrum of involvement in international marketing. What factors should firms
consider when choosing entry modes?
Answer:
n/a
Research and development is the creation of the know-how and the know-why of new
materials and technologies that eventually translate into commercial development.
A____________________pricing approach is most appropriate for a distinctly new
product, and provides an opportunity to profitably reach market segments that are not
sensitive to the high initial price.
Automatic Data Processing (ADP) was born through an innovation that created a new
business niche-a foolproof outside service to help small businesses meet their weekly
payrolls. First, position this service on a product-service continuum for which the basic
underlying variable is tangibility. Second, describe how ADP’s marketing strategy
would be different from an office equipment manufacturer that called on the same small
businesses.
Answer:
n/a
The core strategy determines how the firm chooses to compete.
While the location of the corporate headquarters is less important and may reflect
historical factors, a firm must develop a clear home base for competing in each of its
strategically distinct businesses. What role does a home base assume in forming a
global strategy and what factors should be considered in choosing a location? Under
what conditions might a firm create a home base for a different product line in another
country?
Answer:
n/a