CASES
Chapter 7: Analyzing Business Markets
GENERAL CONCEPT QUESTIONS
Multiple Choice
1. To create and capture value, sellers need to understand business organizations’ needs, resources, policies, and ________.
a. demands
b. protocols
c. strategies
d. buying procedures
e. personnel policies
Answer: d Page: 209 Level of difficulty: Easy
2. Webster and Wind define ________ as the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.
a. marketing channels
b. organizational buying
c. demand-oriented buying
d. purchasing
e. inventory control
Answer: b Page: 210 Level of difficulty: Medium
3. 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.
a. business market
b. consumer market
c. e-commerce market
d. global market
e. supplier market
Answer: a Page: 210 Level of difficulty: Medium
4. Business markets have several characteristics that contrast sharply with those of consumer markets. All of the following would be among those characteristics EXCEPT ________.
a. fewer, larger buyers
b. close supplier-customer relationship
c. professional purchasing
d. inverted demand
e. multiple sales calls
Answer: d Pages: 210–211 Level of difficulty: Hard
5. All of the following would be among the major industries that make up the business market EXCEPT ________.
a. agriculture, forestry, and fisheries
b. manufacturing
c. construction
d. banking, finance, and insurance
e. the Internet
Answer: e Page: 210 Level of difficulty: hard
6. Trained purchasing agents, who must follow their organization’s ________, often purchase business goods.
a. culture
b. past purchasing history
c. purchasing policies, constraints, and requirements
d. needs
e. financial budgets
Answer:
GENERAL CONCEPT QUESTIONS
Multiple Choice
1. To create and capture value, sellers need to understand business organizations’ needs, resources, policies, and ________.
a. demands
b. protocols
c. strategies
d. buying procedures
e. personnel policies
Answer: d Page: 209 Level of difficulty: Easy
2. Webster and Wind define ________ as the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.
a. marketing channels
b. organizational buying
c. demand-oriented buying
d. purchasing
e. inventory control
Answer: b Page: 210 Level of difficulty: Medium
3. 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.
a. business market
b. consumer market
c. e-commerce market
d. global market
e. supplier market
Answer: a Page: 210 Level of difficulty: Medium
4. Business markets have several characteristics that contrast sharply with those of consumer markets. All of the following would be among those characteristics EXCEPT ________.
a. fewer, larger buyers
b. close supplier-customer relationship
c. professional purchasing
d. inverted demand
e. multiple sales calls
Answer: d Pages: 210–211 Level of difficulty: Hard
5. All of the following would be among the major industries that make up the business market EXCEPT ________.
a. agriculture, forestry, and fisheries
b. manufacturing
c. construction
d. banking, finance, and insurance
e. the Internet
Answer: e Page: 210 Level of difficulty: hard
6. Trained purchasing agents, who must follow their organization’s ________, often purchase business goods.
a. culture
b. past purchasing history
c. purchasing policies, constraints, and requirements
d. needs
e. financial budgets
Answer: