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Multiple Choice Quiz
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Which of the following would be an example of a capital equipment purchase for a boat manufacturer?
A)liability insurance
B)glass for the cockpit
C)decals for the boats
D)the fiberglass blowing machine
E)gas for the company's truck.
Bernadette is considering new items for her store. She asks the sales rep what the profit margin is for each product. The sales rep will tell her the:
A)capital commitment and the marginal cost.
B)unit cost and the suggested retail price.
C)servicing requirements and the warrantee.
D)MRO requirements and the expected total sales.
E)efficient demand and the market potential.
Salespeople need to understand that derived demand depends on:
A)quick-response systems.
B)a competitive advantage for the buyer.
C)efficiencies of scale in production.
D)purchases made by their customers' customers.
E)none of the above
Which of the following is NOT a step in the buying process?
A)establishment of a long-term relationship with the seller
B)receipt of the product
C)recognition of a need
D)evaluation of product performance
E)placement of the order
Which of the following stages of the buying process is most critical to establishing successful long-term relationships between buyer and seller?
A)the acquisition and analysis of proposals
B)the definition of the type of product needed
C)the evaluation of product performance
D)the receipt of an order
E)the recognition of a need or problem
Sabrina sells disease detection equipment to family medicine centers. Most of the centers have never offered this type of service to their customers. She recognizes that for most of her prospects the purchase ____________ situation.
A)life-cycle costing
B)new task
C)end user emotional needs
D)straight rebuy
E)modified MRO
Which of the following is NOT a role played by people involved in a buying center?
Using the life-cycle costing approach, salespeople can demonstrate that:
A)a product in the decline stage of its product life cycle will have little, if any, service.
B)a product with a higher initial cost will have lower overall costs.
C)operational costs do not change over the life time of capital equipment.
D)a product in the introductory stage of its product life cycle will have more problems than one in a later stage.
E)operational costs actually decreased over the life time of capital equipment due to increased familiarity.
Which of the following questions would likely be asked in the process of doing a value analysis?
A)Can a part of the product be eliminated?
B)Can a standard part be used instead of a customized part?
C)Does the part have greater performance than this application needs?
D)Are unnecessary machining or fine finishes specified?
E)All of the above
In an always-a-share strategy, a buyer will:
A)use a straight rebuy in each situation.
B)only allocate a share to each vendor.
C)always give each vendor a share of the business.
D)use JIT to determine who always gets an order.
E)use automatic replenishment if it always works.
In which stage of the buying process are personal, noncommercial sources of information most important?
A)need recognition
B)development of specifications
C)sales calls
D)proposal evaluation
E)order replacement
___________ is an auction in which a buyer offers a contract and sellers bid.
A)Extranet auction
B)Derived demand auction
C)Reverse auction
D)Dutch auction
E)Quick response auction

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