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Exam 7: Business Markets and Buying Behavior

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Question 91

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Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets.

A) consumer
B) institutional
C) producer
D) government
E) reseller

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

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Question 92

Multiple Choice

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The third stage in the business buying decision process is to

A) evaluate product specifications to solve the problem.
B) evaluate products relative to specifications.
C) select and order the most appropriate product.
D) evaluate product and supplier performance.
E) search for products and suppliers.

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

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Question 93

Multiple Choice

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As the new sales representative for H & L Electronics, Sophie is responsible for calling on hospital management and selling electronic hospital equipment such as blood pressure cuffs, scales, and heart monitors. Sophie knows that she needs to be friendly with the administrative assistants in the management offices in order to make sure that H & L's information brochures and new product diagrams actually get to the management staff. In this situation, Sophie is exhibiting her knowledge that administrative assistants are often ________ in the buying decision process.

Marketers can take advantage of a wealth of public and private data about business customers using various industrial classification systems. However, as with any data, there are limitations associated with industrial classification systems' data. Which of the following is a limitation of industrial classification systems' data?

Reseller markets consist of intermediaries that buy finished goods and resell them for profit.

Ben Davideau is assigned by his sales manager to come up with the names and addresses of twenty firms in his territory that have some potential for using sizable quantities of his firm's products. Wanting to be as efficient as possible, Ben looks in

In industries in which price changes occur frequently, demand fluctuations have practically been eliminated since buyers have become used to these changes and have learned to ignore them.

Industrial classification systems allow marketers to divide business customers into groups based mainly on the types of goods and services provided.

Resellers are business intermediaries who buy finished goods and resell them for a profit. Their business model dictates that they consider several factors when deciding which products to buy. Which of the following is a factor the reseller considers when making purchase decisions?

An accountant who purchases software for maintaining clients' books is an example of a buyer in a(n) ____ market.

The government decides to purchase a new fleet of fighter jets for the U.S. Air Force. What type of buying procedure is the government most likely to use?

Management at Readyfresh Dry Cleaners is concerned that it maintains a high level of service for its business accounts. How should the firm monitor the level of service these customers receive?

Interpersonal dynamics are easy to observe and simple for the marketer to assess.

In its purchase of desktop business computers, Albertson's asked that potential suppliers provide information only on units with 8GB of memory. As Albertson's management evaluates this purchase, it finds that 8GB is inadequate for many of the software programs used at Albertson's. In this instance, the firm would need to modify which aspect of the purchase process?

The North American Industry Classification System (NAICS) is based on the types of ______________ performed. It divides industrial activity into _______ sectors.

____ buy products from manufacturers and then resell the products to other firms in the distribution system.

On-time delivery is crucial to a business customer, since a late delivery may hold up a production line or cause the firm to lose sales.

Compare and contrast the consumer buying decision process and the business buying decision process.

The Environmental Protection Agency (EPA) was established on December 2, 1970, to consolidate in one agency a variety of federal research, monitoring, standard-setting, and enforcement activities to ensure environmental protection for residents of the United States. Since its inception, EPA has been working for a cleaner, healthier environment for the American people and is responsible for providing inspection services and cleanup efforts in the case of contamination or hazards. The EPA is a _____ type of business market.

Demand for business products is also known as ____ demand.