Question

1. In a(n) ________ situation, the buyer wants to revise product specifications, prices, terms, or suppliers.

   		modified rebuy
   		straight rebuy
   		new task
   		reverse auction
   		absolute auction

2 points   

QUESTION 12

1. In routine buying situations, which of the following members of the buying center has formal or informal power to select or approve the final suppliers?

   		buyers
   		gatekeepers
   		influencers
   		deciders
   		users

2 points   

QUESTION 13

1. Business markets are similar to consumer markets in that ________.

   		both share the same market structure
   		the decision processes involved in both the markets are same
   		both involve people who assume buying roles and make purchase decisions to satisfy needs
   		the nature of the buying unit is the same for both
   		the types of decisions are fairly consistent in both the markets

2 points   

QUESTION 14

1. Business demand that ultimately comes from the demand for consumer goods is known as ________ demand.

   		negative
   		consumer
   		elastic
   		derived
   		primary

2 points   

QUESTION 15

1. Warren Buffet directed his marketing manager Gordon Banks to study the different forces (demographic,/economic,/cultural/political) that affect his companies. Hence, Gordon has been directed to study the ________ of the organization.

   		microenvironment
   		internal environment
   		marketing intermediaries
   		marketing mix
   		macroenvironment

2 points   

QUESTION 16

1. A company or association's ________ is designed to help guide responses to complex social responsibility issues.

   		code of ethics
   		non-disclosure policy
   		privacy policy
   		non-compete clause
   		marketing plan

2 points   

QUESTION 17

1. ________ markets buy goods and services for further processing.

   		Business
   		Retail
   		Consumer
   		Wholesale
   		Reseller

2 points   

QUESTION 18

1. A company needs resources to produce goods and services. Who provides those resources?

   		Resellers
   		Suppliers
   		Retailers
   		Financial intermediaries
   		The government

2 points   

QUESTION 19

1. Which of the following is most likely influenced by marketers?

   		income distribution
   		population shifts
   		core cultural values
   		media
   		ethnic diversity

2 points   

QUESTION 20

1. Which of the following is an element of the marketing mix?

   		Customer segmentation
   		place
   		exchange
   		needs
   		wants

Answer 1

1 a)modified rebuy

2 d) deciders

3 c) both involve people who assume buying roles and make purchase decisions to satisfy needs

4 d) derived

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