Which of the following would qualify as facilitating goods?
a. Fixed equipment.
b. Component materials.
c. Raw materials.
d. Operating supplies.
e. Office equipment.
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. (a) and (b) only.
Companies can use capabilities advantages to:
a. improve research and development.
b. address unmet customer needs.
c. further standardize products in the home country.
d. All of the above.
e. (a) and (b) only.
A business marketer who shifts from rail to air in the logistical system would likely
generate:
a. higher variable costs associated with product movement.
b. lower customer investments in inventory.
c. a higher customer service level.
d. all of the above
e. (a) and (c) only
Which of the following are used in the Customer Perspective of the Balanced Scorecard
to measure core customer outcome measures?
a. Market share.
b. Customer acquisition.
c. Customer retention.
d. All of the above.
e. Only b and c.
The qualitative approach that most closely resembles the executive panel method of
sales forecasting is:
a. input/output analysis.
b. the sales force composite.
c. market surveys.
d. time series methods.
e. regression analysis.
Please identify the incorrect statement concerning autonomous strategic behavior.
Autonomous strategic behavior:
a. normally relies on the emergence of an informal network of participants.
b. exhibits communication flows that depart from the formal organizational work flow
pattern.
c. is analogous to entrepreneurial activity.
d. is generally activated by an individual manager defining a market need that diverges
from the organization’s existing concept of strategy.
e. None of the above statements is incorrect.
As a controllable element in the logistics system, _____ relates to the effectiveness of
creating time and place utility.
a. customer service
b. order processing
c. inventory control
d. production planning
e. logistics communication
The type of international strategy that concentrates as many activities as possible in one
country, serves the world market from the home base, and closely coordinates those
activities that must be performed near the buyer (for example, service) is referred to as:
a. a country-centered strategy.
b. an export-based strategy.
c. a purest global strategy.
d. a segmented international strategy.
e. a coordinated international strategy.
_____ is typically the largest logistics expense.
a. Warehousing
b. Inventory control
c. Transportation
d. Order processing
e. Materials handling
Which of the following statements is false regarding the relationship of the Internet and
SCM?
a. The Internet promotes efficiency across the supply chain.
b. The Internet promotes effectiveness across the supply chain.
c. The Internet permits suppliers to gain real-time knowledge of their customer’s needs
for materials and components.
d. The use of the Internet as a part of supply chain management has allowed business
marketers develop new products in a more timely manner.
e. The Internet has provided companies the opportunities to increase channel
inventories.
In the sales performance literature, recent evidence suggests that a strict reliance on the
____ measurement approach may not produce the desired sales or marketing results
because it “has lulled some sales executives into thinking that important sales outcomes
could be reasonably accomplished without intense management reinforcement.”
a. esteem-based
b. behavior-based
c. satisfaction-based
d. outcome-based
e. none of the above
_____ are the most tangible requirements for advantage that enable a firm to exercise
its capabilities.
a. Core competencies
b. Strategic assets
c. Core processes
d. Core strategies
e. Customer interfaces
If a business marketer is particularly concerned with over- or under- spending on a
particular marketing strategy element, such as advertising, which of the following tools
would be most useful?
a. expense-to-sales ratio analysis
b. market share analysis
c. sales analysis
d. marketing audit
e. profit analysis
St. Paul Equipment Company experienced a 15 percent sales gain that, on the surface,
appears favorable. However, if total industry sales are up 30 percent, an analysis of
____ could suggest that the firm has not fared well relative to competitors.
a. expense-to-sales ratios
b. profit
c. market share
d. distribution costs
e. sales by channel type
The classification of customers on a continuum range from nonuser to heavy user is an
example of:
a. macro level segmentation.
b. micro level segmentation.
c. product application segmentation.
d. “value in use” segmentation
e. none of the above.
Among technology adopters, these customers are pessimistic about their ability to
derive any value from technology investments and are extremely price sensitive.
a. technology enthusiasts.
b. visionaries.
c. pragmatists.
d. conservatives.
e. skeptics.
Special insights into innovation management can come from examining the rate at
which products are improving and customers can use the improvements. These insights
are captured in:
a. the disruption innovation model.
b. the supply chain management model.
c. the derivative projects model.
d. the value network.
e. the technology life cycle adoption model.
Which of the following statements about buyer-seller relationships is(are) true?
a. Customers prefer a transactional orientation when there are few alternative offerings
from suppliers.
b. Customers emphasize a collaborative orientation when the purchase decision is not
complex.
c. Collaborative relationships are more likely to involve operational linkages and high
levels of information exchange.
d. All of the above
e. None of the above
The interaction of the individual service provider with the customer may be the key
element in the firm’s entire marketing strategy. This is an explicit recognition of which
characteristic unique to business services?
a. simultaneous production and consumption
b. lack of ownership
c. nonstandardized output
d. inability to stockpile
e. the dominance of intangible elements
Hybrid service offerings
a. May be a combination of services and products.
b. Have inelastic demand.
c. come from a well-managed new-service-development process.
d. All of the above.
e. Only a and c.
In _____, firms pursue separate strategies in each of their foreign markets-competition
in each country is essentially independent of competition in other countries.
a. a multidomestic industry
b. a differentiated industry
c. a global industry
d. an export-based industry
e. a coordinated industry
Which of the following statements about buying centers is true?
a. The composition can change from one buying situation to another.
b. Different individuals are important to the process at different times.
c. Buying centers vary from firm to firm.
d. All of the above are true.
e. Only (a) and (c) are true.
The decision to outsource business operations to rapidly developing economies is
affected by which of the following sets of factors?
a. Economic.
b. Competitive.
c. Environmental.
d. All of the above.
e. (a) and (b) only.
The _____ measurement approach of salesperson performance is best suited for the
emerging emphasis on relationship selling.
a. esteem-based
b. behavior-based
c. satisfaction-based
d. outcome-based
e. none of the above
A segmentation study found that purchasers of IBM equipment are more concerned
about software support and breadth of product line and they are less concerned about
absolute price and price flexibility (i.e., willingness of suppliers to negotiate price). This
provides an illustration of segmentation on the basis of:
a. the importance of purchase.
b. key criteria.
c. the structure of the decision-making unit.
d. attitude toward vendors.
e. decision style.
If a business marketer is concerned with how the firm is performing relative to
competition, which of the following tools would be most useful?
a. expense-to-sales ratio analysis
b. market potential analysis
c. market share analysis
d. sales analysis
e. segmental analysis
Use of a direct sales force is best for:
a. highly customized solutions.
b. smaller customers.
c. complex products.
d. All of the above.
e. Only a and c.
_____ reflect(s) the degree to which the systems, procedures, and routines of the buying
and selling firms have been connected to facilitate operations.
a. Relationship connectors
b. Information exchange
c. Cooperative norms
d. Operational linkages
e. Legal bonds
A _____ enables an organization to describe and illustrate its objectives, initiatives,
targets, the measures used to assess performance, and the linkages that are the
foundation for strategic direction.
a. value network
b. marketing strategy center
c. strategy map
d. strategic alignment
e. positioning map
The industrial distributor’s primary responsibilities include:
a. contact.
b. repair.
c. product availability.
d. all of the above.
e. (a) and (c) only.
Research has shown that the three factors that drive a firm’s new product performance
are the quality of the firm’s new-product-development process, the resource
commitments made to new product development, and the new product strategy.
A successful training effort will increase the cost of recruiting.
Using any selling firm, product, and market of your choice, please illustrate how a
strategy map that utilizes the balanced scorecard measures can be used to build an
effective and efficient marketing strategy plan.
Answer:
n/a
Key account management strategies are emphasized by top-tier business marketing
firms like 3M, IBM, and Dow Chemical. Compare and contrast a key account with a
regular account. Next, describe how the sales strategy for a key account differs from the
traditional selling focus used for regular accounts.
Answer:
n/a
Market share analysis is an attempt to determine why actual sales varied from planned
sales.
A mass market strategy is the appropriate course to follow during the bowling alley
phase of the technology adoption life cycle process.
None of the products purchased by customers in the business market are the same as
those purchased by ultimate consumers.
Many business marketing strategists believe that firms should focus on product families
instead of single products to improve planning.
Collectively, uncertainty about the outcome of a decision and the magnitude of
consequences from making the wrong choice comprise ____________________.
Closed bidding is particularly appropriate when specific requirements are hard to
rigidly define or when the products and services of competing suppliers vary
substantially.
By retaining title to the goods, the business marketer has a higher level of channel
control in a rep channel as opposed to a distributor channel.
The personal characteristics of decision-makers in buying centers, such as their decision
style and confidence, are examples of macrolevel bases of segmentation.
The four major components of the business model or concept are customer interface,
core competencies, strategic resources, and the value network.
Lead user projects are conducted by cross-functional teams that include four to six
managers from marketing and technical departments.
Customer value represents a business customer’s overall assessment of a supplier based
on perceptions of benefits received and sacrifices made. Discuss the benefits and
sacrifices typically considered by customers when assessing value. What has recent
research discovered matters most in customer value and how do these findings impact
business marketing strategies?
Answer:
n/a
Rapidly developing economies (RDEs) are having a significant impact on the global
economy, both as attractive new markets but also as new competitors for firms in highly
developed economies. Explain the three forms of competitive advantage that firms can
achieve by moving operations to and marketing in RDEs. What products or services
make the most sense to relocate to RDEs?
Answer:
n/a
Compared with induced strategic behavior, autonomous
or____________________initiatives are more likely to involve a communication
process that departs from the regular work flow and the hierarchical decision-making
channels.
Changes in business marketing strategy requires corresponding changes in personal
selling styles.