Principals of MGMT chapterapter 7 Test Review Flashcards PDF

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Principals of Marketing Chapter 7 Test Review Terms in this set (45) Which of the following statements is

d

true of relationship marketing? a.For many suppliers, retaining their current customers has become a secondary focus in relationship marketing. b.Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs. c. Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers. d.Relationship marketing has become more important than before because competition has becoming more intense.

Which of the following statements is

b

true of relationship marketing? a.For many suppliers, retaining their current customers has become a secondary focus in relationship marketing. b.Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs. c. Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers. d.Relationship marketing has become more important than before because competition has becoming more intense.

Which of the following statements is

b

true of business marketing? a.It refers to the sale of goods and services for the purpose of personal consumption. b.It deals with products that are used to facilitate an organization's operations. c. It has long and indirect channels of distribution. d.It includes selling stationaries to students. Principals

of Marketing Chapter 7 Test Review

Which of the following is true of a firm a that acts as a consumer marketer? a.It can also be a business marketer. b.It has fewer customers than a business marketer. c. It excludes the sale of goods that are sold in business markets. d.Its customers are less geographically concentrated than business markets. A _____ is used to manufacture other

c

goods or services, to facilitate an organization's operations, or to resell to other customers. a.consumer product b.retail product c. business product d.convenience product

Which of the following statements is

b

true of raw materials that are used as business products? a.The promotion of raw materials is almost always done via mass advertising. b.They are usually sold in large quantities. c. Individual producers have great flexibility in the pricing of raw materials. d.They are finished items that are ready for assembly.

_____ exists when one party has confidence in an exchange partner's reliability and integrity. a.Obeya b.Trust c. Keiretsu d. Commitment

b

Seth, an Administrative Manager at

b

Seal Inc., is asked to purchase ten printers for the firm's office. He contacts a sales representative at Myro Distributors Inc. and places an order for ten printers. Myro Distributors Inc. purchases the printers from Ink Corp., a wholesaler, and delivers them to Seth at his office. In this scenario, Myro Distributors Inc. is most likely to be a(n)_______. a.producer b. retailer c. institution d. manufacturer

The North American Industry

d

Classification System data can be used to: a.identify scope for new product lines. b.classify firms according to their number of customers. c. classify business establishments all over the world. d.identify potential new customers.

Which of the following is a similarity between raw materials and component parts? a.Both fail to retain their identity in final products. b.Both become part of a final product. c. Both are unprocessed extractive products. d.Both are more expensive than major equipment.

In the context of a buying center, a which of the following statements is true of deciders? a.They approve of the selection of a brand. b.They make the final purchase. c.They influence the buying decision. d.They regulate the flow of information.

b

Nutrimax Cookies Inc. buys around

d

three tons of raw materials every year. If the demand for its cookies increases next year, the company might need to buy more raw materials in order to meet the increased demand. This illustrates_____. a.inelastic demand b.joint demand c. elastic demand d.fluctuating demand

In a(n) _____ situation, a purchaser wants

d

some change in the original good or service. a.initiation buy b.straight rebuy c. new buy d.modified rebuy

Leo buys 500 sheets of paper from a

b

vendor for his printing firm. He is satisfied with the product, and he orders the same quantity from the same vendor every week. This is most likely an example of a(n)_______. a.initiation buy b.straight rebuy c. new buy d.modified rebuy

Which of the following statements is true of business services? a.They include consumable items. b.They include processed items. c.They do not retain outside providers and contractors. d.They do not become part of a final product.

d...