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Multiple Choice Quiz
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Which of the following statements represents an organizational buying decision?
A)The local baker buys sugar to make cookies with his children at home
B)A dentist buys a new VCR for her den
C)Mr. Langley hires a housecleaning service to clean his apartment
D)The owner of a fried chicken restaurant hires a snow removal service to keep the parking lot clear
E)A physician takes her sick child to the doctor
The services market sells diverse services such as legal advice, auto repair and dry cleaning. Along with finance, insurance and __________ and transportation, communication and public utility firms, these firms represent about 74 percent of all industrial firms.
A)real estate businesses
D)government units
E)educational institutions
In terms of organizational buyers,, Takashimaya and 7-Eleven would all be classified as __________.
Amtrak, the U.S. passenger train service, purchases train sets from Siemens, a German manufacturing company. This purchase is an example of __________.
A)the circular flow of products
B)market dynamics
C)global organizational markets
D)organizational clusters
E)market elasticity principles
International trade statistics indicate the largest exporting industries in the United States focus on __________, not __________.
A)organizational customers; ultimate consumers
B)ultimate consumers; organizational consumers
C)governmental agencies; ultimate consumers
D)governmental agencies; organizational consumers
E)ultimate consumers; governmental agencies
Concert Staging Company provides the stage, the roof system and lighting and sound for outdoor concerts and theaters. It is typically hired by the organization sponsoring the event. When the economy slows down, consumers are more likely to save their money for a rainy day than buy a concert or theater ticket. The number of concert and theater events determines how many times the company gets to provide its services. Demand for the services provided by Concert Staging Company is __________ demand.
Which of the following is a characteristic of products and services purchased within an organizational context?
A)The focus is on delivery time and post-sale service
B)Raw and semi-finished goods are predominantly purchased
C)Heavy emphasis is based on technical assistance
D)Goods and services are purchased on the basis of specifications that are technical in nature
E)All of the above are characteristics of purchases within an organizational context
Which of the following statements accurately characterizes buying behavior in organizational markets?
A)Organizational buying behavior is similar to consumer buying behavior since individuals are involved in both processes
B)Demand for industrial products is elastic instead of inelastic or derived because companies, not ultimate consumers, determine the quantity of goods produced
C)Fewer customers typically exist in organizational markets than in consumer markets
D)Purchase orders are usually small
E)Forecasting is not as important in organizational buying as in consumer buying
Merrill Lynch and Thompson Financial are a two years into a three-year, $1 billion project that will put workstations on the desks of 25,000 of Merrill Lynch's brokers. These machines will put the world of investing information at the broker's fingertips. Thompson, the supplier is obligated not only to deliver technology and services on time and on budget, but to constantly improve customer-satisfaction levels among Merrill's brokers and end customers. This is an example of __________.
B)exclusive dealing
C)review marketing
D)a long-term buyer-seller relationship
E)a tying arrangement
Which of the following statements about reciprocity is true?
A)Reciprocity exists in certain types of trade arrangements in international marketing
B)Reciprocity can restrict the normal operation of the free market
C)Reciprocity is occasionally addressed in a company's code of ethics
D)Views regarding reciprocal arrangements often vary across cultures
E)All of the above statements about reciprocity are true
To lower costs and reduce manufacturing time, Michelin has people work together on important purchases, including individuals in the roles of buyers, deciders, gatekeepers and others as needed. This kind of cross-functional group is known as a(n) __________.
A)status quo committee
B)negotiating arm
C)buying center
D)supply partnership
E)strategic agency
Mark manages a small family-owned amusement park. He believes the park can increase its profits if its owners will buy three food concession trailers. He has contacted three dealers of such trailers, which come fully customized to user specifications and has determined Century Industries has the best price. He will present only the Century Industries information to the family tomorrow. In which buying center roles is Mark acting?
A)Gatekeeper and buyer
B)Decider and gatekeeper
C)Buyer and decider
D)Influencer and buyer
E)Influencer, gatekeeper and decider
A straight rebuy is a (n) __________ while a modified rebuy is a (n) __________.
A)exchange; resale
B)reorder; exchange
C)first-time order; reorder
D)changed order; first-time order
E)reorder; changed order
A buy class situation affects buying center tendencies in different ways. If there is one person involved, the problem definition is well defined and the buying objective is to find the low-priced supplier, most likely the buy class situation is a __________.
A)new buy
B)straight rebuy
C)conditional rebuy
D)modified rebuy
E)standard buy
The concept in organizational buying that corresponds most closely to a consumer's consideration set in consumer buying is the __________.
A)buying center
B)seven buying criteria
C)type of buying situation
D)bidder's list
E)NAICS code
Online buying in organizational markets is prominent because Internet/Web technology __________.
A)increases marketing costs
B)reduces the need for timely information
C)substantially reduces buyer order processing costs
D)narrows the potential customer base for many products
E)is accurately described by all of the above
eBay is the predominant person-to-person trading community in the world. The eBay Business website is an example of a(n) __________.
A)webfront operation
B)click-and-mortar store
D)online auction
E)online stock exchange
Dell, Inc. sells surplus, refurbished or closeout computer merchandise at its website to many buyers who bid sequentially. This is an example of a __________.
A)webfront auction
B)traditional auction
C)Japanese auction
D)English auction
E)reverse auction
Which of the following companies is an independent e-marketplace?
E)All of the above are independent e-marketplaces
The department secretary orders ink cartridges for the department printer from the Corporate Express catalog each month. This is an example of a __________.
A)new buy
B)straight rebuy
C)modified rebuy
E)standard buy

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