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Exam 5: Business Markets and Buying Behavior

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Question 21

Multiple Choice

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If a business product is usable by virtually all firms in only one or two industries, it has a(n) _____ business market.

A) vertical
B) direct
C) indirect
D) horizontal
E) linear

F) C) and D)
G) B) and E)

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Question 22

Multiple Choice

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Ashley has been a dental office manager for 20 years. When she places an order for dental adhesive, tooth desensitizing gel, cotton sponges, and dental exam gloves, she is most likely making a _____ purchase.

A) straight rebuy
B) specialty
C) reciprocity
D) modified rebuy
E) new-task buying

F) B) and E)
G) A) and B)

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Question 23

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According to the text, the level at which customer relationship management is conducted depends on:

Elasticity of demand for a business product is likely to increase:

Many companies make no effort to sell to the government because they are intimidated by the red tape.

The North American Industry Classification System:

Norske Skog is a global supplier of publication paper with mills and sales offices on five continents. The Norwegian company's core business is newsprint and magazine paper for its 2,300 customers worldwide. It has a partnership with many of its customers and develops special paper grades in co-operation with its customers. Sarah DeJohn, its chief executive, announced the company would be downsizing in 2003 due to falling demand for paper. (Demand for publication paper is affected by economic activity in the market and printed media advertising revenue.) -Norske Skog is an example of a company with a _____ business market because its product is only usable by publishing companies and printers.

Because demand in the business market for fabricating parts and materials is _____, a small increase in the price of wood screws will have relatively little effect on the price of reclining furniture that use the wood screws.

The acceleration principle describes the techniques used by some companies to shorten the negotiation periods for business products.

The purchase of a replacement refrigeration unit for storing fresh cut flowers at a florist's shop is probably an example of a modified rebuy purchase.

_____ is the process of moving a seller toward long-term, cost-effective, mutually beneficial trust with selected customers.

What do Kestern Wholesale Company, Costco warehouse store, Kohl's, and Dillard's department store have in common?

The demand for plastic grommets used to make belts is inelastic because if the price of the grommets were to suddenly increase, it would have no effect on the price of the belts.

If Weyman Paper Company agrees to always buy its shrinkwrap from a plastics manufacturer that has agreed to buy all of its paper products from Weyman, it would be an example of a:

Resellers create all of the following types of utility EXCEPT:

Why are business buyers better informed about what they are buying than ultimate consumers?

The BrokerForum.com is a Web site, which allows brokers and distributors of electronic components parts to buy and sell parts. The BrokerForum.com is an example of:

Value added refers to the profit a manufacturer earns on a product once it has subtracted the costs of the inputs it used to make the product.

State Farm Insurance sells security. Disneyland provides entertainment. Brake-O repairs brakes and sells safety. All three of these organizations are part of the _____ market.

It is cheaper to clean VISA fabric than any other kinds of fabric, and VISA fabric lasts four to five times longer than any cotton or blends. Thus, VISA is often used to make white tablecloths used in restaurants. As the number of times a week people eat out is increasing, so is the number of restaurants who need a steady supply of fabric. This results in an increase demand for VISA fabric. VISA fabric has a _____ demand.