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Business Marketing Management B2B 11th Edition By Michael D. Hutt – Test Bank

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  • ISBN-10 ‏ : ‎ 1133189563
  • ISBN-13 ‏ : ‎ 978-1133189565

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Business Marketing Management B2B 11th Edition By Michael D. Hutt – Test Bank

IM Part 3: Exam Questions: MC, TF, SA, Essay

Chapter 1—A Business Marketing Perspective

MULTIPLE CHOICE

1. The business market consists of the following three components:
a. commercial enterprises, resellers, and government.
b. manufacturers, institutions, and defense.
c. manufacturers, service organizations, and government.
d. commercial enterprises, service organizations, and government.
e. commercial enterprises, institutions, and government.

ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

2. 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.

ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

3. Based on the volume of their purchases, _____ are the most important commercial customers in the business or industrial market.
a. construction companies
b. manufacturers
c. transportation companies
d. service firms (e.g., hotels)
e. health care facilities

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business function
4. 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.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

5. Market-driven firms spot market changes and react well in advance of their competitors. This illustrates:
a. the customer-linking capability of market-driven firms.
b. the value proposition of market-driven firms.
c. the market-sensing capability of market-driven firms.
d. the value of using direct channels of distribution in the business market.
e. both (b) and (c).

ANS: C PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

6. The particular skills, abilities, and processes that an organization has developed to manage close customer relationships are referred to as:
a. the customer-linking capability.
b. channel management.
c. derived demand.
d. the market-sensing capability.
e. the extended enterprise.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer | R&D Managing decision-making processes

7. The ability of an organization to quickly recognize changes in its market and to anticipate customer responses to marketing programs is referred to as:
a. market research capability.
b. customer-linking capability.
c. competitive intelligence.
d. market-sensing capability.
e. derived demand.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer | R&D Managing decision-making processes

8. Motorola reduced the price of the electronic engine control that it sells to Ford by 10 percent and experienced a 15 percent increase in quantity demanded. This suggests that Ford’s price elasticity of demand is:
a. elastic.
b. inelastic.
c. neither elastic nor inelastic.
d. insensitive to price changes.
e. none of the above.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Pricing | R&D Knowledge of general business functions

9. Dayco increased the price of the drive belts that it sells to General Motors by 5 percent and sales of the item grew by 9 percent. Price elasticity of demand for drive belts appears to be:
a. elastic.
b. inelastic.
c. neither elastic nor inelastic.
d. sensitive to price changes.
e. none of the above.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Pricing | R&D Knowledge of general business functions

10. A diverse array of organizations make up the business market. These organizations can be broadly classified as:
a. commercial enterprises, governmental organizations, and institutions.
b. commercial enterprises, users, and governmental units.
c. commercial enterprises, users, and original equipment manufacturers.
d. producers and resellers of industrial products or services.
e. upstream suppliers, users, and governmental units.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

11. When purchasing a high speed packaging machine, General Foods would be classified as:
a. an original equipment manufacturer.
b. a user.
c. a distributor.
d. a dealer.
e. an institutional buyer.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

12. Concerning the chain of suppliers involved in the creation of a Honda automobile, which of the following fall within the business marketing domain?
a. Honda purchasing power steering components from direct suppliers.
b. Direct suppliers of power steering systems purchasing sheet metal from upstream suppliers.
c. Organizations purchasing Honda automobiles for their fleets.
d. all of the above.
e. (a) and (b) only.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Distribution | R&D Knowledge of general business functions

13. Which of the following transactions fall into the business marketing domain?
a. Ford purchasing machine tools for their plants from Cincinnati Milacron.
b. Ford selling their automobiles to the fleet manager at Cincinnati Milacron for use by the sales force.
c. Ford purchasing power-steering systems from Motorola for use in a particular model.
d. all of the above.
e. (a) and (c) only.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Distribution | R&D Knowledge of general business functions

14. When purchasing machine tools for their plants, American Honda is:
a. an original equipment manufacturer.
b. a user.
c. a distributor.
d. an institutional buyer.
e. an upstream supplier.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

15. Concerning the classification of customers in the business market, General Motors is a(n) ____ when purchasing a mainframe computer system from IBM, but is a(n) ____ when purchasing tires from Goodyear.
a. user; original equipment manufacturer (OEM)
b. user; distributor
c. original equipment manufacturer (OEM); user
d. user; upstream supplier
e. original equipment manufacturer (OEM); downstream supplier

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

16. As an industrial customer, Ford Motor Company would be classified as:
a. a user.
b. an original equipment manufacturer (OEM).
c. a user in purchasing some products, an OEM in purchasing other products.
d. a producer of facilitating goods.

ANS: C PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

17. When purchasing microprocessors from Intel Corporation to be incorporated into Dell’s line of personal computers, IBM would be classified as:
a. a user.
b. an original equipment manufacturer (OEM).
c. an institutional buyer.
d. a dealer.
e. a distributor.

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

18. When purchasing manufacturing equipment from General Electric, Chrysler would be classified as:
a. a user.
b. an original equipment manufacturer (OEM).
c. an institutional buyer.
d. a dealer.
e. a distributor.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

19. When Armco Steel realizes a drop in the demand for steel as a result of a decline in ultimate consumer demand for automobiles, this illustrates the concept of:
a. derived demand.
b. connector demand.
c. linked demand.
d. reflection demand.
e. evoked demand.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions

20. The method of classifying industrial goods into meaningful categories in the business market centers on this question:
a. How does the industrial good enter the production process and the cost structure of the firm?
b. How much effort are organizational buyers willing to exert in purchasing this industrial good?
c. Will organizational buyers purchase this industrial good from a distributor or directly from a manufacturer?
d. What is the weight and unit value of the industrial good?
e. How many product alternatives are organizational buyers willing to consider before making a choice?

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

21. Industrial products and services can be broadly classified as:
a. upstream, downstream, and direct goods.
b. entering, manufactured, and fabricated goods.
c. entering, accessory, and manufactured goods.
d. entering, foundation, and facilitating goods.
e. foundation, accessory, and component goods.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

22. The cost of raw materials such as sheet steel is treated as:
a. an expense item which is depreciated over time.
b. a capital item which is depreciated over time.
c. a fixed cost.
d. an expense item which is assigned to the manufacturing process.
e. none of the above.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

23. Some industrial products have been processed before reaching the industrial customer, but are processed further by this customer before becoming part of the finished product that you buy. These items are called:
a. component parts.
b. facilitating parts.
c. accessory materials.
d. component materials.
e. accessory parts.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

24. Which of the following is(are) characteristic of the marketing strategy that would be appropriate for a firm like Otis Elevator, which sells installations in the business market?
a. Personal selling is the dominant promotional tool.
b. Trade advertising and direct-mail advertising reinforce personal selling.
c. Price is the central force in marketing strategy.
d. All of the above.
e. (a) and (b) only.

ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Promotion | R&D Knowledge of media communications & delivery

25. Mead Paper Company recently purchased a new high-speed paper machine for one of their plants. The new machine is used in manufacturing a special grade of paper at a rate of over 1500 feet per minute. This product would be classified as:
a. a facilitating good.
b. an entering good.
c. accessory equipment.
d. an installation.
e. none of the above.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

26. 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.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

27. 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

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

28. Bond Office Products manufactures a diverse array of office supplies and serves the business market. Which of the following characteristics is (are) associated with the marketing strategy for this category of goods?
a. Personal selling is less important for supplies than it is for other categories of goods having a higher unit value, such as installations.
b. the company requires a wide variety of marketing middlemen to cover the broad and diverse market adequately.
c. Price may be critical in the marketing strategy because many office supply items are undifferentiated.
d. All of the above are true.
e. (a) and (c) only

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Managing strategy & innovation

29. When companies want to sell products to consumer and business markets, they have to:
a. produce products that are not identical.
b. reorient their business strategies.
c. link customer capabilities.
d. none of the above

ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer| R&D Managing decision-making processes

30. Marketers who want to serve both consumer and business market sectors should:
a. develop a market oriented organizational plan.
b. become proficient in understanding customers.
c. become proficient in satisfying customers.
d. all of the above.
e. (a) and (b) only.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer| R&D Managing decision-making processes

31. Companies can demonstrate market-sensing and customer-linking capabilities by:
a. sharing product movement information.
b. jointly planning promotional activities with other channel members.
c. jointly planning product changes with other channel members.
d. all of the above.
e. (a) and (b) only.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Managing strategy & innovation

32. A business marketer becomes a preferred supplier to major customers by:
a. developing intimate knowledge of the customers operations.
b. developing a market orientation organization plan.
c. contributing unique value to a customer’s business.
d. all of the above.
e. (a) and (c) only.

ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer | R&D Managing decision-making processes

33. 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.

ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Managing strategy & innovation

34. Functional areas other than marketing directly or indirectly affect which of the following ?
a. Product marketing decisions
b. Price marketing decisions
c. Promotion marketing decisions
d. Distribution marketing decisions
e. All of the above are affected

ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

35. Which type of goods are treated as an expense item because they do not enter the production process or become part of the finished product?
a. Facilitating Goods
b. Foundation Goods
c. Entering Goods
d. None of the above are correct.

ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions

 

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