Test Bank For Business Marketing Management B2B 11th Edition By Michael D. Hutt
ISBN-10 : 1133189563, ISBN-13 : 978-1133189565
Chapter 1—A Business Marketing Perspective
MULTIPLE CHOICE
- The business market consists of the following three components:
- commercial enterprises, resellers, and government.
- manufacturers, institutions, and defense.
- manufacturers, service organizations, and government.
- commercial enterprises, service organizations, and government.
- commercial enterprises, institutions, and government.
ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions
- Concerning manufacturing customers, the business market is:
- concentrated by size.
- geographically concentrated.
- experiencing declining growth in many large metropolitan areas.
- all of the above.
- (a) and (b) only.
ANS: E PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business functions
- Based on the volume of their purchases, _____ are the most important commercial customers in the business or industrial market.
- construction companies
- manufacturers
- transportation companies
- service firms (e.g., hotels)
- health care facilities
ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Marketing Plan | R&D Knowledge of general business function
- Market-driven firms demonstrate:
| a. | the coordinated use of interfunctional resources (for example, research and development, manufacturing). |
| b. | a set of values and beliefs among employees that places the customer’s interests first. |
| c. | the ability to generate, disseminate, and productively use superior information about customers and competitors. |
| d. | all of the above. |
| e. | (b) and (c) only. |
ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions
- Market-driven firms spot market changes and react well in advance of their competitors. This illustrates:
| a. | the customer-linking capability of market-driven firms. |
| b. | the value proposition of market-driven firms. |
| c. | the market-sensing capability of market-driven firms. |
| d. | the value of using direct channels of distribution in the business market. |
| e. | both (b) and (c). |
ANS: C PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions
- The particular skills, abilities, and processes that an organization has developed to manage close customer relationships are referred to as:
| a. | the customer-linking capability. |
| b. | channel management. |
| c. | derived demand. |
| d. | the market-sensing capability. |
| e. | the extended enterprise. |
ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer | R&D Managing decision-making processes
- The ability of an organization to quickly recognize changes in its market and to anticipate customer responses to marketing programs is referred to as:
| a. | market research capability. |
| b. | customer-linking capability. |
| c. | competitive intelligence. |
| d. | market-sensing capability. |
| e. | derived demand. |
ANS: D PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Customer | R&D Managing decision-making processes
- Motorola reduced the price of the electronic engine control that it sells to Ford by 10 percent and experienced a 15 percent increase in quantity demanded. This suggests that Ford’s price elasticity of demand is:
| a. | elastic. |
| b. | inelastic. |
| c. | neither elastic nor inelastic. |
| d. | insensitive to price changes. |
| e. | none of the above. |
ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Pricing | R&D Knowledge of general business functions
- Dayco increased the price of the drive belts that it sells to General Motors by 5 percent and sales of the item grew by 9 percent. Price elasticity of demand for drive belts appears to be:
| a. | elastic. |
| b. | inelastic. |
| c. | neither elastic nor inelastic. |
| d. | sensitive to price changes. |
| e. | none of the above. |
ANS: B PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Pricing | R&D Knowledge of general business functions
- A diverse array of organizations make up the business market. These organizations can be broadly classified as:
| a. | commercial enterprises, governmental organizations, and institutions. |
| b. | commercial enterprises, users, and governmental units. |
| c. | commercial enterprises, users, and original equipment manufacturers. |
| d. | producers and resellers of industrial products or services. |
| e. | upstream suppliers, users, and governmental units. |
ANS: A PTS: 1
NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Knowledge of general business functions
Reviews
There are no reviews yet.