1. There are several ways that Business-to-Business marketing is different from Consumer Marketing. All of the following are differences except: (Points : 2) Business to business promotion has more emphasis on personal selling, dialogue. In consumer marketing the buyer behavior focuses more on individual purchasing, and family involvement and influence. Channels in business to business marketing are indirect and include multiple relationships. Product in business to business markekting can be more technically complex and customized for user preference. 2. A joint venture agreement usually involves a licensing fee. (Points : 2) True False What is the difference between value as perceived by the customer and value as perceived by the supplier? (Points : 2) Value as perceived by the customer is the sum of the benefits, less the sum of all costs, monetary and otherwise, that are incurred with the purchase and use of the product. Value as perceived by the suppler is the sum of the benefits, less the sum of all costs, monetary and otherwise, that are incurred with the purchase and use of the product. Value as perceived by the supplier is that value that provides benefit to the supplier. Suppliers must provide the offering that minimizes the customers need for value to increase profitability. Competitive Intelligence is a subset of Market Research. (Points : 2) True False Random and Non-Random errors are the two types of Sampling Error (Points : 2) True False Zoomerang and Survey Monkey are examples of companies that enable researchers to have more control over their own survey creations. (Points : 2) True False Buying center interactions often make it easier to perform market research in B-B markets (Points : 2) True False The value networks business model can be an alternative to vertical integration and is often used in Silicon Valley to avoid costs associated with development of vertical/internal supply. The advantages associated with the network model include all of the following except: (Points : 2) Rapid development; ability to change partners as markets and technologies change. Minimal investment in infrastructure. Less potential conflicts of interest, especially when one firm has a key portion of a total offering. Flexibility - not bound to a particular facility after it is obsolete (but before fully depreciated). "Price is a major component of the marketing mix and products are not differentiable." This statement describes which of the following competitive business to business marekt form? (Points : 2) Pure Competition Monopolistic Competition Oligopolistic Competition Pure Monopoly The largest kind of business customer (more than 35% GNP and fastest growing consuming group in U.S. is: (Points : 2) Nonprofit or Not-for-profit Organizations Industrial Distributors Value-Added Resellers Government Units The most significant factor in business to business decision making is: (Points : 2) past experience with a supplier (relationships) price promotion activities advertising expenditures A big percentage change in the consumer markets leads to only small changes in the business markets. (Points : 2) True False The marketing concept suggests that the firm should be contextually market sensitive and understand customer needs (Points : 2) True False A buying center in organizational purchasing is: (Points : 2) A centralized location where products can be easily stored, displayed, and purchased. focused on satisfying the needs of individual consumers in his/her personal family role a collection of people with a stake in the buying process who contribute to the purchase decision - they have specialties related to their personal discipline and purchase function in products, components, organizational needs and the firm's culture. stakeholders from the technology and product design departments that drive the consumer buying decision process for all of the other firms stakeholders The competitive intelligence is seldom a formal plan. (Points : 2) True False A trade publication can be considered a source of primary data. (Points : 2) True False Conducting personal interviews is considered collecting primary data. (Points : 2) True False Qualitative interviews can be considered exploratory research. (Points : 2) True False Four critical elements of strategy development include all of the following except: (Points : 2) Set time limited goals and non quantifiable objectives. Understand the environment in which the business operates. Learn from experience, update that experience. Critical thinking. In the Boston Consulting Group Growth-Share Matrix, a "Dog": (Points : 2) Needs heavy investment to finance growth is characterized as low growth, low share requires an answer to this question: What does the organization have in its distinctive competencies that will make it win? are cash generators An HP LaserJet printer for a small business can be considered a "flagship" product. (Points : 2) True False Free riders are those retailers who either through mail order, e-commerce or other means, provide a reduced service package to customers enabling a lower sales price. (Points : 2) True False Marketing strategy is different than corporate strategy. Which of the following is a distinguishing factor of marketing strategy? (Points : 2) Is a strategy to serve corporation's specific concepts and tools. Is defined by executive management. Is comprised of overall missions, goals, and objectives. Provides a broader strategy scenario What is the major difference in market research in business to business marketing and consumer marketing? (Points : 2) Business to business market research is not concerned with cultures. Customers' percetions of value are not a concern in business to business marketing. Market research, in business to business marketing, examines more in depth than consumer marketing - focus on defining differences between companies and cultures. There is no significant difference between business to business and consumer marketing. Exploratory research: (Points : 2) is designed to confirm preliminary findings, oftern with more of a quantitative approach. assumes that data can be collected in a timely and cost effective manner. assumes that the data collected are a valid representation of the market or customer reactions to the customer variable. is designed to ascertain context and possible relationships in a first assessment of market potential. In the Technology Adoption Life Cycle, which adopter category wants to gain competitive advantage through new technology, but will not buy until they believe the product is easily adopted with minimum upheavel? They will distrust the references from visionaries and need a fully developed offering. (Points : 2) Pragmatists Conservatives Technophiles Laggards During the Maturity Stage of the PLC: (Points : 2) focus is on learning about customers, finding initial target markets and exploring the business opportunity new customers are laggards and field market development is non-existent business development is initially focused on finding the beachhead segment across the chasm an important role for business development is to develp the transition form the current offering to the next generation offering with large volume pragmatists At the End Game Stage of the buying decision process: (Points : 2) publicity is used to reinforce decision, as well as personal selling public relations and advertising are guse to generate awareness and interest print advertisng and personal selling programs are used to induce interaction with the seller promotion is forcuse on personal selling and service elaboration 0 1278708130 MultipleChoice 15 0 1278708128 13 0 1278708127 MultipleChoice 12 Common situations in which ethical issues may emerge include: (Points : 2) product announcements product capability claims obtraining competitive information MultipleChoice all of the above During the aftermath stage of a crisis, media relations should: (Points : 2) avoid wild speculation (by yourself and others) determine the public response limit points of contact for a focused, consistent message begin repair of the company's image, debrief, and learn from experience 0 1278708133 MultipleChoice 18 With limited resources available for investigation and prosecution, violations in the business markets are often subject to a substantiality test to determine the extent of the discriminatory practice. Three considerations that make this test up are accurately listed as: (Points : 2) Size of the organization, the volume of the business involved, market preemption. Size of the organization, the payroll volume, variety of the products that the organization offers The variety of markets the organization is active in, variety of products, the stock performance of the organization Market preemption, the stock performance of the organization, return on assets The CEO pay, the healthcare benefits of the employees, variety of the products that the organization offers What type of purchase decision puts an existing supplier at a greatest risk? (Points : 2) Routine Purchase New task Modified Rebuy Straight Rebuy Restocking Which one of the following is not a stage of the PLC? (Points : 2) Introduction Growth Maturity Decline Idea Generation Which of the below can be described as a group of customers that will find reasons not to adopt even when all the evidence says they should. (Points : 2) Technophiles Conservatives Pragmatists Laggards Visionaries The most important promotion mix variables in business to business marketing are: (Points : 2) general advertising and sales promotion personal selling and public relations general advertising and public relations sales promotion and personal selling Which one of the below stages of the PLC is described correctly? (Points : 2) Less productive or weaker competitors drop out of the market during the decline stage. The sales start slowing down during the introduction stage. Promotion activities are minimal at the maturity stage. The competition declines during the maturity stage. Profits are negative during the growth stage. All of the below are the characteristics of segments that markets will strive to create except: (Points : 2) Measurability Accessibility Substantiability Actionability Sustainability Which one of the SWOT analysis elements are internal? (Points : 2) Opportunities and Threats Strengths and Weaknesses Threats and weaknesses Opportunities and Strengths Strengths and Threats All of the below can be considered as the major tenets of price discrimination regulation except: (Points : 2) If the product/service is sold in different markets If the product/service is sold at different times If the product/service is sold for different uses If the product/service is sold to government agencies If the product/service is sold at different price levels and creates an unfair competition for one or more business in the market 0 1278708142 MultipleChoice 27 Which one of the below is one of the value creating activities of the value chain? (Points : 2) HR Management Finance Department IT Department Marketing/Sales Procurement A market with many sellers with similar products is called: (Points : 2) Monopoly Oligopoly Perfect Competition Monopolistic Competition High competitive Which one of the below is not a type of organizational customer? (Points : 2) Industrial Distributors Value-added Sellers Capital Goods Manufacturers Independent Press Original Equipment Manufacturers 0 1278708145 MultipleChoice 30 Which one of the following is called "star" market based on the BCG Matrix? (Points : 2) Needs heavy investment to finance growth Can be characterized to have market share in a high industry growth environment Can be characterized to have market share in a low industry growth environment Generates cash flow only Which one of the below is not one of the four types of economic utility? (Points : 2) Possession Time Place Form Convenience Star is not one of the categories suggested by the BCG matrix Which one of the buying decisions below entails an unfamiliar task? (Points : 2) New Task Straight Rebuy Modified Rebuy Product Oriented Task Customer Oriented Task Which one of the legislative acts below was the first to prohibit monopolies? (Points : 2) Clayton Act Sherman Antitrust Act FTC Act Robinson-Patman Act Consumer Goods Pricing Act 0 1278708149 MultipleChoice 39 Which one of the below introduced major changes in financial regulations after major corporate accounting scandals? (Points : 2) Consumer Goods Pricing Act Clayton Act FTC Act Sherman Antitrust Act Sarbanes-Oxley Act What is the another name for "chasm" gap in the Technology Adaptation Life Cycle? (Points : 2) Conservatives Gap Laggards Gap Market Development Gap Visionaries Gap This type of gap only exists in PLC. 0 1278708151 MultipleChoice 41 The members of the buying center try to meet three kinds of needs as they participate in the buying decision process. Which one of the below have a correct listing of them? (Points : 2) Organization's needs, Individual's needs stemming from his/her role in the buying center, the buying center members' personal needs Problem recognition, organization's needs, product specification Evaluating the performance, product selection, general need description Supplier source search, problem recognition, product specification Proposal solicitation, product selection, general need description 0 1278708132 MultipleChoice 17 0 1278708126 MultipleChoice 11 0 1278708122 MultipleChoice 9 0 1278708117 MultipleChoice 8 0 1278708115 TrueFalse 6 0 1278708113 MultipleChoice 6 0 1278708105 MultipleChoice 2