Figure 5-4
160) Figure 5-4 shows the three buy classes encountered by organizational buyers. Column A is
referred to as a
A) modified rebuy.
B) straight rebuy.
C) new buy.
D) standard reorder.
E) class buy.
161) Figure 5-4 shows the three buy classes encountered by organizational buyers. B is referred
to as a
A) modified rebuy.
B) straight rebuy.
C) new buy.
D) standard reorder.
E) typical buy.
162) Figure 5-4 shows the three buy classes encountered by organizational buyers. C is referred
to as a
A) modified rebuy.
B) straight rebuy.
C) new buy.
D) standard reorder.
E) altered buy.
163) A straight rebuy is ________ while a modified rebuy is ________.
A) an exchange; a resale
B) a routine reorder; an exchange
C) a first-time order; a routine reorder
D) a changed order; a first-time order
E) a routine reorder; a changed order
164) Business-to-business buying over the Internet
A) is nearly equivalent to consumer online buying when measured by the total dollar value of all
online transactions.
B) is more than twice as large as consumer online buying when measured by the total dollar
value of all online transactions.
C) has dramatically decreased since face-to-face communication between a firm’s sales force and
its potential customers is so important.
D) is impossible to estimate since companies will not share procurement information.
E) has never been popular since it presents massive security risks for companies.
165) Online buying in organizational markets is prominent because Internet technology
A) allows companies to increase their innovation cycles.
B) substantially increases brand loyalty.
C) conveys timely information quickly.
D) narrows the potential customer base for many products.
E) eliminates marketing costs.
166) Online trading communities that bring together buyers and supplier organizations to make
possible the real time exchange of information, money, products, and services are referred to as
A) webfronts.
B) iCommerce.
C) e-commerce marketspaces.
D) e-marketplaces.
E) X-changes.
167) E-marketplaces refer to
A) virtual or holographic purchasing marketspaces that allow manufacturers to estimate demand
based upon different changes in environmental forces.
B) websites that allow consumers to make direct purchases from a manufacturer rather than
through a traditional retail outlet.
C) online trading communities that bring together buyers and supplier organizations to make
possible the real time exchange of information, money, products, and services.
D) computer simulations that allow manufacturers to estimate how much inventory to keep on
hand based upon different purchasing scenarios.
E) a computer database co-sponsored by the U.S. Department of Commerce and the World Trade
Organization (WTO) that houses all public access records for the purpose of aiding American
and global businesses.
168) Another name for an e-marketplace is a
A) WebXChange.
B) WebMart.
C) E4B marketplace.
D) C2C market forum.
E) B2B exchange.
169) E-marketplace can take two different formats, which are
A) bricks-and-mortar exchanges and clicks-and-mortar exchanges.
B) privately owned trading communities and open-to-the-public trading communities.
C) networked exchanges or public trading communities.
D) independent trading communities or private exchanges.
E) public exchanges and networked exchanges.
170) Small businesses benefit from independent ________ like Amazon Business, PlasticsNet,
Hospital Network.com, and TextileWeb.
A) webfronts
B) clicks-and-mortar
C) e-marketplaces
D) iMarkets
E) integrated markets
171) For e-marketplaces, large companies tend to favor ________ that link them with their
network of qualified suppliers and customers.
A) centralized markets
B) decentralized markets
C) private exchanges
D) segregated markets
E) independent trading communities
172) Independent e-marketplaces act as a neutral third party, provide an Internet technology
trading platform, and provide ________ market that enable exchanges between buyers and
sellers.
A) a centralized
B) a deconsolidated
C) a segregated
D) an integrated
E) a noncompetitive
173) Which of the following statements about e-marketplaces that act as independent trading
communities is false?
A) These trading communities allow buyers to easily compare offerings from various sellers.
B) Independent trading communities charge a fee for their service.
C) Independent trading communities often consist of thousands of geographically dispersed
buyers and sellers.
D) This independent type of trading community is favored by large companies.
E) Independent trading communities often operate in an environment where demand and supply
fluctuations cause volatile prices.
174) eBay Business Supply is an example of
A) a webfront operation.
B) a clicks-and-mortar store.
C) an e-marketplace.
D) an integrated market.
E) an iMarket.
175) In the construction industry, an independent trading community such as Buzzsaw.com or
Cephren.com enables a general contractor to manage and coordinate the many suppliers,
subcontractors, architects, and engineers necessary to complete a project. Buzzsaw.com and
Cephren.com are examples of
A) Webfronts.
B) web chains.
C) X-changes.
D) e-syndicates.
E) e-marketplaces.
176) The predominant person-to-person trading community in the world is
A) Facebook.
B) Amazon.
C) NASDAQ.
D) Craigslist.
E) eBay.
177) When a seller puts an item up for sale and would-be buyers are invited to bid in competition
with one another, it is referred to as
A) a reverse auction.
B) a traditional auction.
C) a bidder’s war.
D) an e-auction.
E) a Webfront auction.
178) When prospective buyers observe the bids of others and decide whether or not to increase
the bid price, it is called a
A) forward auction.
B) reverse auction.
C) Webfront auction.
D) traditional auction.
E) bidder’s war.
179) Dell, Inc., sells surplus, refurbished, or closeout computer merchandise at its
dellauction.com website to many buyers who bid competitively against one another. This is an
example of a
A) traditional auction.
B) reverse auction.
C) bidder’s war.
D) I-auction.
E) Webfront auction.
Figure 5-5a
180) Which type of auction does Figure 5-5a represent?
A) reverse auction
B) horizontal auction
C) vertical auction
D) diagonal auction
E) traditional auction