Question 1

Merrill Lynch and Thompson Financial are 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 brokers' fingertips.Thompson,the supplier,is obligated to deliver not only 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

Accepted Answer

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

Question 2

buy class situation affects buying center tendencies in different ways.If there are many people involved,both new and present suppliers are considered,and the buying objective is a good solution,the buy class situation is MOST LIKELY a

Accepted Answer

A)   modified buy.
B)   new buy.
C)   straight rebuy.
D)   make-buy.
E)   standard buy.F) A) and C)
G) B) and D)

Question 3

Manufacturers,wholesalers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

A)   multinational buyers.
B)   resellers.
C)   organizational buyers.
D)   ultimate consumers.
E)   institutional buyers.F) B) and D)
G) A) and E)

Question 4

system that provides common industry definitions for Canada,Mexico,and the United States,which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA) ,is referred to as the

Accepted Answer

A)   Standard Industrial Code System (SICS) .
B)   United Nations Central Product Classification System (UNCPCS) .
C)   Free Trade Classification System (FTCS) .
D)   North American Industry Classification System (NAICS) .
E)   Federal System of International Organizations (FSIO) .F) B) and C)
G) All of the above

Question 5

There are seven commonly used organizational buying criteria.One of them is __________.

Accepted Answer

A)   flexibility and adaptability
B)   consumer demand
C)   ability to meet required delivery schedules
D)   senior management directives
E)   adherence to governmental policiesF) All of the above
G) C) and E)

Question 6

business market is also referred to as

Accepted Answer

A)   a transactional market.
B)   a corporate market.
C)   organizational buyers.
D)   a reseller market.
E)   an industrial market.F) D) and E)
G) A) and C)

Question 7

the breakdown for the NAICS code based on Figure 6-1 above,"A" represents the

Accepted Answer

A)   two-digit industry sector code
B)   three-digit industry subsector code
C)   four-digit industry group code
D)   five-digit industry code
E)   six-digit U.S. national industry codeF) C) and D)
G) None of the above

Question 8

a ___________ situation,users,influencers,or deciders in the buying center want to change product specifications,price,delivery schedule,or suppliers.

Accepted Answer

A)   new buy
B)   straight rebuy
C)   make-buy
D)   buy class
E)   modified rebuyF) None of the above
G) B) and C)

Question 9

which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their quality control?

Accepted Answer

A)   alternative evaluation
B)   problem recognition
C)   information search
D)   purchase decision
E)   postpurchase behaviorF) B) and D)
G) None of the above

Question 10

Organizations face three kinds of specific buying situations.They are new buy,straight rebuy,and modified rebuy.Collectively,these situations are referred to as

Accepted Answer

A)   industrial buying behavior.
B)   reseller buying behavior.
C)   buy classes.
D)   selling classes.
E)   consideration set.F) B) and C)
G) B) and E)

Question 11

straight rebuy is a(n) __________ while a modified rebuy is a(n) __________.

Accepted Answer

A)   exchange; resale
B)   routine reorder; exchange
C)   first-time order; routine reorder
D)   changed order; first-time order
E)   routine reorder; changed orderF) C) and D)
G) A) and B)

Question 12

prospective buyers observe the bids of others and decide whether or not to increase the bid price,it is called a(n)

Accepted Answer

A)   forward auction.
B)   reverse auction.
C)   webfront auction.
D)   traditional auction.
E)   bidder's war.F) A) and B)
G) A) and E)

Question 13

Which of these statements regarding organizational buyers is most accurate?

Accepted Answer

A)   Wholesalers and retailers resell the goods they buy without reprocessing them.
B)   Wholesalers and retailers alter the products they sell to meet the specific needs of their customers prior to sale.
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 or make long-term purchase agreements.
E)   Government agency purchases are more similar to ultimate consumer purchases than they are to wholesalers and retailers.F) B) and C)
G) A) and E)

Question 14

buy class situation affects buying center tendencies in different ways.If there are two or three people involved,only present suppliers are considered,and the time required for a decision is moderate,the buy class situation is a

Accepted Answer

A)   new buy.
B)   straight rebuy.
C)   modified rebuy.
D)   conditional rebuy.
E)   standard reorder.F) A) and E)
G) A) and D)

Question 15

Within the buying center,deciders are people who

Accepted Answer

A)   have the formal authority and responsibility to select the supplier and negotiate the terms of the contract.
B)   control the flow of information in the buying center.
C)   have the formal or informal power to select or approve the supplier that receives the contract.
D)   affect the buying decision usually by helping define the specifications for what is bought.
E)   actually use and evaluate the product or service.F) A) and B)
G) B) and C)

Question 16

of the following people are part of the Trek buying center EXCEPT:

Accepted Answer

A)   the Trek product managers.
B)   representatives from production.
C)   representatives from research and development (R&
D)  .
D)   representatives from quality control.
E)   a purchasing manager.F) None of the above
G) B) and C)

Question 17

There are seven commonly used organizational buying criteria.One of them is __________.

Accepted Answer

A)   adherence to governmental policies
B)   flexibility and adaptability
C)   past performance on previous contracts
D)   consumer demand
E)   senior management directivesF) A) and B)
G) A) and E)

Question 18

__________ exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate customer.

Accepted Answer

A)   supplier development agreement
B)   reciprocal arrangement
C)   shareholder relationship
D)   supply partnership
E)   strategic allianceF) B) and D)
G) A) and E)

Question 19

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

Accepted Answer

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

Question 20

Identify and describe the five roles an individual can play in a buying center.

Accepted Answer

There are five roles an individual can p...

Exam 6: Understanding Organizations As Customers

buy class situation affects buying center tendencies in different ways.If there are two or three people involved,only present suppliers are considered,and the time required for a decision is moderate,the buy class situation is a

Correct Answer
verified

system that provides common industry definitions for Canada,Mexico,and the United States,which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA) ,is referred to as the

Correct Answer
verified

There are seven commonly used organizational buying criteria.One of them is __________.

Correct Answer
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Which of these statements regarding organizational buyers is most accurate?

Correct Answer
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There are seven commonly used organizational buying criteria.One of them is __________.

Correct Answer
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of the following people are part of the Trek buying center EXCEPT:

Correct Answer
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buy class situation affects buying center tendencies in different ways.If there are many people involved,both new and present suppliers are considered,and the buying objective is a good solution,the buy class situation is MOST LIKELY a

Correct Answer
verified

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

Correct Answer
verified

a ___________ situation,users,influencers,or deciders in the buying center want to change product specifications,price,delivery schedule,or suppliers.

Correct Answer
verified

Organizations face three kinds of specific buying situations.They are new buy,straight rebuy,and modified rebuy.Collectively,these situations are referred to as

Correct Answer
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straight rebuy is a(n) while a modified rebuy is a(n) .

Correct Answer
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business market is also referred to as

Correct Answer
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Within the buying center,deciders are people who

Correct Answer
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Correct Answer
verified

Manufacturers,wholesalers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Correct Answer
verified

which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their quality control?

Correct Answer
verified

prospective buyers observe the bids of others and decide whether or not to increase the bid price,it is called a(n)

Correct Answer
verified

Identify and describe the five roles an individual can play in a buying center.

Correct Answer
verified
There are five roles an individual can p...
View Answer

__________ exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate customer.

Correct Answer
verified

the breakdown for the NAICS code based on Figure 6-1 above,"A" represents the

Correct Answer
verified

Exam 6: Understanding Organizations As Customers

buy class situation affects buying center tendencies in different ways.If there are two or three people involved,only present suppliers are considered,and the time required for a decision is moderate,the buy class situation is a

Correct AnswerverifiedShow Answer

system that provides common industry definitions for Canada,Mexico,and the United States,which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA) ,is referred to as the

Correct AnswerverifiedShow Answer

There are seven commonly used organizational buying criteria.One of them is __________.

Correct AnswerverifiedShow Answer

Which of these statements regarding organizational buyers is most accurate?

Correct AnswerverifiedShow Answer

There are seven commonly used organizational buying criteria.One of them is __________.

Correct AnswerverifiedShow Answer

of the following people are part of the Trek buying center EXCEPT:

Correct AnswerverifiedShow Answer

buy class situation affects buying center tendencies in different ways.If there are many people involved,both new and present suppliers are considered,and the buying objective is a good solution,the buy class situation is MOST LIKELY a

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

a ___________ situation,users,influencers,or deciders in the buying center want to change product specifications,price,delivery schedule,or suppliers.

Correct AnswerverifiedShow Answer

Organizations face three kinds of specific buying situations.They are new buy,straight rebuy,and modified rebuy.Collectively,these situations are referred to as

Correct AnswerverifiedShow Answer

straight rebuy is a(n) __________ while a modified rebuy is a(n) __________.

Correct AnswerverifiedShow Answer

business market is also referred to as

Correct AnswerverifiedShow Answer

Within the buying center,deciders are people who

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Manufacturers,wholesalers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Correct AnswerverifiedShow Answer

which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their quality control?

Correct AnswerverifiedShow Answer

prospective buyers observe the bids of others and decide whether or not to increase the bid price,it is called a(n)

Correct AnswerverifiedShow Answer

Identify and describe the five roles an individual can play in a buying center.

Correct AnswerverifiedThere are five roles an individual can p...View AnswerShow Answer

__________ exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate customer.

Correct AnswerverifiedShow Answer

the breakdown for the NAICS code based on Figure 6-1 above,"A" represents the

Correct AnswerverifiedShow Answer

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straight rebuy is a(n) while a modified rebuy is a(n) .

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There are five roles an individual can p...
View Answer

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