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Liberty Medical Supply is a home delivery service that sells diabetes testing supplies, prescription drugs, and other supplies directly to consumers to assist them in the management of their health-related conditions. Since Liberty Medical does not make any changes to the supplies that it obtains from manufacturers, it would most likely be classified as


A) an industrial service provider.
B) a health care manufacturer.
C) an industrial firm.
D) a reseller.
E) a government agency.

F) All of the above
G) A) and E)

Correct Answer

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The City of Denver contracts with Solid Waste Management to provide trash collection services for its citizens. The city is operating as


A) a government unit.
B) an industrial market.
C) a business market.
D) a consumer market.
E) a service provider.

F) A) and B)
G) C) and D)

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Which of these statements regarding organizational buyers is most accurate?


A) Wholesalers and retailers resell the goods they buy without reprocessing them.
B) Wholesalers and retailers alter the goods they sell to meet the specific needs of their customers prior to resale.
C) Manufacturers purchase processed goods and resell them to suppliers who in turn resell them to ultimate consumers.
D) Ultimate consumers can be considered organizational buyers when they purchase in large quantities.
E) Government agency purchases are more similar to ultimate consumer purchases than they are to wholesalers and retailers.

F) A) and D)
G) D) and E)

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Independent e-marketplaces act as a neutral third party, provide an Internet technology trading platform, and provide ________ market that enable exchanges between buyers and sellers.


A) a centralized
B) a deconsolidated
C) a segregated
D) an integrated
E) a noncompetitive

F) A) and E)
G) A) and D)

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Which of the following statements about e-marketplaces that act as independent trading communities is false?


A) These trading communities allow buyers to easily compare offerings from various sellers.
B) Independent trading communities charge a fee for their service.
C) Independent trading communities often consist of thousands of geographically dispersed buyers and sellers.
D) This independent type of trading community is favored by large companies.
E) Independent trading communities often operate in an environment where demand and supply fluctuations cause volatile prices.

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

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D

Which of the following characterizes organizational buyer-seller relationships?


A) Purchases are often made after lengthy or complex negotiations.
B) Purchases are usually of small dollar values.
C) Short-term contracts are often prevalent.
D) Reciprocal arrangements are illegal.
E) Delivery schedules are less important than production capacity.

F) B) and E)
G) None of the above

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Important buying process characteristics in organizational buying behavior include which of the following?


A) Few large transactions are made over the Internet due to concerns of industrial espionage.
B) Negotiations, purchases, and delivery occur in real time at an accelerated rate.
C) There are often reciprocal arrangements and negotiations between buyers and sellers.
D) Most purchases are made through government-licensed negotiators.
E) Direct selling to organizational buyers is rare because it is cost-prohibitive.

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

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Online buying in organizational markets is prominent because Internet technology


A) allows companies to increase their innovation cycles.
B) substantially increases brand loyalty.
C) conveys timely information quickly.
D) narrows the potential customer base for many products.
E) eliminates marketing costs.

F) None of the above
G) D) and E)

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The services market sells diverse services such as legal advice, auto repair, and dry cleaning, and this market represents 75 percent of all industrial firms. Which of the following is another such service firm?


A) communication
B) wholesalers
C) retailers
D) government units
E) educational institutions

F) A) and E)
G) A) and D)

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Milsco Manufacturing emphasizes


A) signing lifetime contracts with suppliers to demonstrate its loyalty to them.
B) supply partnerships when designing products for its customers.
C) reciprocity arrangements with its customers so that each can maximize profit.
D) co-branding as a form of supply partnerships with customers.
E) extending health care benefits to its suppliers' employees as a result of the Affordable Care Act.

F) A) and E)
G) D) and E)

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An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as


A) a tying arrangement.
B) exclusive dealing.
C) reciprocity.
D) a supply partnership.
E) noncompetitive bidding.

F) C) and D)
G) All of the above

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Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services are referred to as


A) webfronts.
B) iCommerce.
C) e-commerce marketspaces.
D) e-marketplaces.
E) X-changes.

F) D) and E)
G) A) and D)

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Trek uses several organizational buying criteria to evaluate potential suppliers. These include all of the following except which?


A) price
B) environmental impact
C) warranties and claim policies
D) quality
E) delivery capabilities

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

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Wholesalers and retailers that buy physical products and resell them without any reprocessing are referred to as


A) industrial firms.
B) reseller firms.
C) government agencies.
D) consumer product firms.
E) nonprofit firms.

F) A) and C)
G) C) and D)

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Cassidy is part of the buying center for a large manufacturer. Her field of expertise is logistics and she is responsible for choosing transportation providers for the company. A sales representative for Yellow Roadway, a successful trucking firm, regularly buys Cassidy's assistant lunch. The representative does this because he views the assistant as and wants to be sure that information about his company reaches Cassidy.


A) a gatekeeper
B) a decider
C) an influencer
D) an obstructionist
E) a power broker

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

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A

What is a buying center? In what type of business would a buying center most likely be found?

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A buying center is a group of individual...

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A buy class situation affects buying center tendencies in different ways. If there are many people involved, the problem definition is uncertain, and the time required for a decision is long, the buy class situation is most likely a


A) standard buy.
B) straight rebuy.
C) conditional rebuy.
D) modified rebuy.
E) new buy.

F) A) and C)
G) A) and B)

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Merrill Lynch and Thompson Financial had a three-year, $1 billion project that put workstations on the desks of 25,000 of Merrill Lynch's brokers. These machines put the world of investing information at brokers' fingertips. Thompson, the supplier, was obliged to not only deliver technology and services on time and on budget, but also constantly improve customer-satisfaction levels among Merrill's brokers and customers. This is an example of


A) a reciprocity agreement.
B) exclusive dealing.
C) supplier alliance.
D) a buyer-seller relationship.
E) a tying arrangement.

F) All of the above
G) A) and B)

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D

General Electric manufactures electric motors for its clothes dryers. The firm uses a formal vendor rating system to evaluate suppliers and notify those whose parts did not meet quality standards. If a supplier fails to correct the problem, GE will drop it as a future supplier. Which stage in the organizational buying decision process would GE make this evaluation?


A) purchase decision stage
B) information search stage
C) postpurchase behavior stage
D) alternative evaluation stage
E) problem recognition stage

F) A) and B)
G) None of the above

Correct Answer

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According to the textbook, JCPenney buys paper for which of the following media?


A) in-store signage
B) special advertising inserts in magazines such as Vogue
C) newspaper inserts and direct mail pieces
D) annual and 10-K reports
E) point-of-purchase displays

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

Correct Answer

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