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saint MBA565 QUIZ 3

Moving into e-procurement has many benefits. Which of the
following would not be among those benefits?

Student Answer: Aggregating
purchasing across departments gains larger volume discounts.
Aggregating purchasing gains centrally
negotiated volume discounts.
There is less buying of substandard goods from
suppliers not on the approved list.
A smaller purchasing staff is required.
Purchasing gains a significant leverage with
top management because of its management team.

Question 2. Question
:
________ is a key industrial marketing strategy in bidding
to build large-scale industrial products (e.g., dams, pipelines, et cetera).

Systems contracting
Systems buying
Systems selling
Solutions buying
Turnkey logistics

Question 3. Question
:
A company can be said to have used ________ if the company
distinguished among customers buying on the basis of price, service, and
quality.

macrosegmentation
microsegmentation
strategic segmentation
global segmentation
INCORRECT short-term segmentation

:

Question 4. Question
:
Business buyers are ultimately purchasing solutions to two
problems: the organization’s economic and strategic problem and ________.

their own personal need for individual
achievement and reward
the community’s continued health and
well-being
the fulfillment of the company’s social impact
goals
to maximize overall firm performance
none of the above

Question 5. Question
:
Johnson & Johnson broadened its target market for its
baby shampoo to include adults through ________.

countersegmentation
metamarketingbusiness market
based on technology and customer capabilities. Which of the following major
segmentation variables would most likely be used by the marketer to assist with
the task?

Demographic variables
Purchasing approaches
Situational factors
Personal characteristics
Operating variables

Question 8. Question
:
All of the following are methods of assessing customer value
EXCEPT ________.

direct survey questions
exit interviewing
focus-group value assessment
conjoint analysis
benchmarks

Comments:

Question 9. Question
:
A behavioral segmentation method related to the Conversion
Model is the Gravity of Decision Spectrum. On the shallow end of the spectrum,
consumers seek products and services they think will ________.

Student Answer: make them appear
more wealthy than they are
help them save face in publicly visible
situations
reinforce their emotional stability
align with their core values and beliefs
save them time, effort, and money
Points Received: 0 of 5
Comments:

Question 10. Question
:
The ________ market consists of schools, hospitals, nursing
homes, prisons, and other institutions that must provide goods and services to
people in their care.

vertical
nonprofit
spot
secondary business
institutional
Points Received: 5 of 5
Comments:

Question 11. Question
:
A marketer interested in segmenting a business market based
on ________ intends to eventually segment the market based on power structure
and purchasing criteria.

situational factors
purchasing approaches
personal characteristics
operating variables
demographic variables
Points Received: 5 of 5
Comments:

Question 12. Question
:
As an alternative to reducing price, sellers may handle
price-oriented buyers by establishing any of the following purchasing
conditions EXCEPT ________.

limiting the quantity that can be purchased
no refunds
no adjustments
no services
no customer advertising
Points Received: 5 of 5
Comments:

Question 13. Question
:
According to the VALS segmentation system, ________ are
successful, sophisticated, active, “take-charge” people with high
self-esteem. Their purchases often reflect cultivated tastes for relatively
upscale, niche-oriented products and services.

innovators
thinkers
achievers
experiencers
believers
Points Received: 5 of 5
Comments:

Question 14. Question
:
When buyers cannot easily monitor supplier performance, the
supplier might shirk or cheat and not deliver the expected value. ________ is
“some form of cheating or undersupply relative to an implicit or explicit
contract.”

Institutional sale
Opportunism
Business buying
Vertical integration
Contractual transactionism
Points Received: 5 of 5
Comments:

Question 15. Question
:
Which of the following reflects high trust between business
sellers and buyers?

Distorted and hidden information
Incentive alignment for seller, not customer
gains
Limited or biased product comparisons and
advice
Minimal customer education and support
Customers help design products individually
and through committees
Points Received: 5 of 5
Comments:

Question 16. Question
:
The total demand for many business goods and services is
________ —that is, not much affected by price changes.

derived
fluctuating
accelerated
multiple
inelastic
Points Received: 5 of 5
Comments:

Question 17. Question
:
The ________ consists of all the organizations that acquire
goods and services used in the production of other products or services that
are sold, rented, or supplied to others.

business market
consumer market
e-commerce market
global market
supplier market

Question 18. Question
:
Procter & Gamble has many soap brands. One reason for
this is that soap users tend to group together in terms of preferences such as
bleaching action, softness, stain removal, et cetera. Which of the following
preferences pattern would most likely apply to P&G’s method of response to
market needs?

Homogeneous preferences
Diffused preferences
Clustered preferences
Psychological preferences
Cultural preferences
Points Received: 5 of 5
Comments:

Question 19. Question
:
Marketers usually identify niches by ________.

dividing a segment into subsegments
conducting VALS tests
allowing consumers to gravitate toward product
brands
examining the demographics section of The
Handbook of Marketing
producing products that can be used in a
variety of ways

Question 20. Question
:
A supplier signs an agreement with a customer that states
$350,000 in savings will be earned by the customer over the next 18 months in
an exchange for a tenfold increase in the customer’s share of supplies ordered
by the customer. This is an example of ________.

solution selling
consultative selling
risk and gain sharing
strategic alignment
demand shifting

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