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Q:
A feature-enhanced or cost-reduced Canon fax machine provides an example of which type of development project?
a. platform project
b. breakthrough project
c. research and development project
d. derivative project
e. none of the above
Q:
In order to use macrolevel bases of segmentation, the business marketer must move beyond secondary sources of information by soliciting input from the sales force or by conducting a special market segmentation study.
Q:
The use of law firms or advertising agencies by business marketers constitutes what type of industrial good?
a. Facilitating goods.
b. Entering goods.
c. Foundation goods.
d. Installations.
Q:
Smaller firms often reduce training costs by hiring experienced and more expensive salespersons.
Q:
Which of the following statements is false regarding the relationship of the Internet and SCM?
a. The Internet promotes efficiency across the supply chain.
b. The Internet promotes effectiveness across the supply chain.
c. The Internet permits suppliers to gain real-time knowledge of their customer's needs for materials and components.
d. The use of the Internet as a part of supply chain management has allowed business marketers develop new products in a more timely manner.
e. The Internet has provided companies the opportunities to increase channel inventories.
Q:
The type of development project that centers on incremental product enhancements (for example, new feature), incremental process improvements (for example, a lower-cost manufacturing process), or incremental changes in both dimensions is referred to as a:
a. platform project.
b. breakthrough project.
c. research and development project.
d. derivative project.
e. none of the above
Q:
If the requirements of segmentation are met, it should provide the business marketer with valuable guidelines for allocating marketing resources.
Q:
Which of the following would qualify as facilitating goods?
a. Fixed equipment.
b. Component materials.
c. Raw materials.
d. Operating supplies.
e. Office equipment.
Q:
Salespersons tend to have a higher level of job satisfaction when they perceive that their first-line supervisor closely directs and monitors their activities.
Q:
The Internet has allowed business marketers to realize several supply chain related benefits, including more timely:
a. product development.
b. access to new customer segments.
c. reduction in communication and customer support costs.
d. all of the above.
e. (b) and (c) only.
Q:
Identify the correct statement(s) concerning differences between induced strategic behavior and autonomous strategic behavior:
a. Induced behavior will rely on the firm's current concept of strategy for its rationale while autonomous behavior necessitates active championing.
b. Autonomous behavior will appear haphazard in nature, when compared to induced behavior.
c. While induced behavior will normally exhibit a creeping commitment toward a particular strategy, autonomous behavior can often benefit from existing administrative mechanisms and commitment.
d. All of the above are correct.
e. Both (a) and (b) are correct.
Q:
By directing its resources to all of its customers evenly, the business marketer is less vulnerable to focused competitors that may seek to "cherry pick" the firm's most valuable customers.
Q:
Achieving the goals of supply chain management requires:
a. information sharing.
b. joint planning.
c. shared technology.
d. shared benefits.
e. all of the above.
Q:
A salesperson's job performance is a function of aptitude.
Q:
Waste reduction throughout the supply chain is accomplished by minimizing:
a. duplication.
b. harmonizing operations and systems.
c. quality defects.
d. all of the above.
e. (a) and (b) only.
Q:
In contrasting induced strategic behavior with autonomous strategic behavior, which of the following statements is incorrect?
a. Induced behavior corresponds to deliberate strategies while autonomous behavior gives rise to emergent strategies.
b. Autonomous behavior stems from the organization's existing concept of strategy while induced behavior will eventually be integrated into the firm's concept of strategy.
c. The two types of behavior cannot be meaningfully separated and discussed.
d. While autonomous behavior will initially rely on an informal network of support, induced behavior will draw support from formal organizational channels.
e. (a) and (b)
Q:
Buying organizations can be segmented based on the stages of the procurement process, such as new-task or straight rebuy.
Q:
The technique for linking a manufacturer's operations with those of all its strategic suppliers and its key intermediaries and customers to enhance efficiency and effectiveness is called:
a. relationship marketing.
b. supply chain management.
c. global marketing.
d. consumer marketing.
Q:
Internally mediated rewards are those controlled and offered by managers or customers.
Q:
The underlying premise of SCM is that waste reduction and enhanced supply chain performance will exist when there is both intrafirm and interfirm:
a. functional integration.
b. sharing.
c. cooperation.
d. all of above.
e. (b) and (c) only.
Q:
Within the context of autonomous strategic behavior, product championing refers to the process of:
a. defining organizational goals more clearly.
b. actively promoting an existing product for an existing market.
c. creating or adapting an idea for an innovation and actively creating momentum for the project.
d. specifying organizational roles to be assumed as strategic alternatives are mapped out.
e. attempting to maintain the status quo in the face of changing market conditions.
Q:
Because a specific industrial good is often used in different ways, the marketer can divide the market using the NAICS.
Q:
Marketing activities directed toward establishing, developing, and maintaining successful exchanges with customers is:
a. relationship marketing.
b. global marketing.
c. cross-functional marketing.
d. supply chain management.
Q:
A successful training effort will increase the cost of recruiting.
Q:
Which of the following statements is false regarding supply chain management?
a. SCM seeks to create an overlap among participants in the supply chain.
b. Traditional supply chains openly share information across the supply chain.
c. Non-integrated approaches to managing product and information flows are expensive and time consuming.
d. Aligning both internal and external processes is the ultimate goal of SCM.
Q:
Please identify the incorrect statement concerning autonomous strategic behavior. Autonomous strategic behavior:
a. normally relies on the emergence of an informal network of participants.
b. exhibits communication flows that depart from the formal organizational work flow pattern.
c. is analogous to entrepreneurial activity.
d. is generally activated by an individual manager defining a market need that diverges from the organization's existing concept of strategy.
e. None of the above statements is incorrect.
Q:
In evaluating alternative bases for segmentation, the marketer is attempting to identify good predictors of differences in buyer behavior.
Q:
Business marketers that define their business markets with a horizon that stretches beyond the boundaries of the United States to include foreign markets for industrial goods and services employ:
a. a global market perspective.
b. a target market perspective.
c. a market orientation perspective.
d. an ethnocentric perspective.
Q:
The final phase for selecting key accounts centers on the profit potential of a customer.
Q:
Supply chains should manage _____ in an integrated manner across organizational borders.
a. relationships
b. information
c. material flow
d. all of the above.
e. (b) and (c) only.
Q:
With respect to induced strategic behavior, please identify the incorrect statement. Induced strategic behavior:
a. exhibits communication that is consistent with the organizational work flow pattern.
b. is generally observed in conjunction with major types of innovations for new markets.
c. typically involves formal organizational channels related to decision making.
d. follows established administrative procedures.
e. is characterized by well-defined roles for the participants in the strategy formulation process.
Q:
The cost of research is greater at the macrolevel of segmentation than at the microlevel.
Q:
Which of the following statements about major installations is true?
a. Personal selling or account management is the dominant promotional tool.
b. Initial price, distribution, and advertising play lesser roles.
c. Only economic factors matter as buying motives.
d. All of the above are true.
e. Only (a) and (b) are true.
Q:
A key account represents a customer who buys for an organization with geographically concentrated units.
Q:
Which of the following statements are false regarding Supply Chain Management?
a. SCM is one of the predominant management approaches driving many organizations.
b. The supply chain increasingly is seen as the main conduit for getting products from its source to the ultimate customer.
c. The supply chain touches almost every function within the organization.
d. The supply chain has the greatest impact on customer satisfaction and the greatest potential for improving the bottom line and enabling competitive advantage.
e. All of the above are true statements.
Q:
Concerning the management of product innovation, which of the following statements is incorrect? The successful management of product innovation:
a. is vital to the long-term health of an industrial company.
b. requires the firm to take risks.
c. is properly characterized as a rational, deliberate, and analytical process.
d. should lead to a stream of attractive products.
e. None of the above statements is incorrect.
Q:
The North American Industrial Classification System (NAICS) is an especially valuable source when segmenting the market on the basis of end use.
Q:
Market-driven firms attempt to match their resources, skills, and capabilities with:
a. competitive intelligence.
b. customers needs that are not currently being served adequately.
c. derived demand.
d. the needs of upstream suppliers.
Q:
If the territory is geographically dispersed, sales will probably be lower due to time wasted in travel by the salesperson.
Q:
Despite the advantages, some firms are reluctant to use third party logistics firms because:
a. of the diminished direct contact with customers.
b. they lose direct control of the logistics process.
c. of the problems associated with terminating internal operations.
d. all of the above
e. (b) and (c) only
Q:
Customer value represents a business customer's overall assessment of a supplier based on perceptions of benefits received and sacrifices made. Discuss the benefits and sacrifices typically considered by customers when assessing value. What has recent research discovered matters most in customer value and how do these findings impact business marketing strategies?
Q:
Value-in-use constitutes a microlevel base of segmentation.
Q:
The use of a goods classification system can be extremely valuable to business marketers because:
a. a marketing strategy appropriate for one category of goods may be entirely unsuitable for another.
b. a marketing strategy that works for consumer products will often work for products sold in business markets.
c. the physical nature of the industrial good and its intended use by the organizational customer affects the marketing program's requirements.
d. all of the above are true.
e. only (a) and (c) are true.
Q:
Relationship quality is composed of at least two dimensions: trust in the salesperson and satisfaction with the salesperson.
Q:
The advantages of third-party warehouses are that they allow the business marketing firm to:
a. increase or decrease warehouse space in a given market.
b. replace the distributor channel when the sales function can be performed by a direct sales force or by manufacturers' representatives.
c. reduce expenditures on company-owned warehouses.
d. all of the above
e. (a) and (c) only
Q:
Main Street represents a stage in the technology adoption life cycle where the frantic waves of adoption have subsided and supply now exceeds demand. Using any product and industry you choose, please describe the strategies that business marketers should follow during this phase.
Q:
Industrial firms lack the flexibility of their consumer-goods counterparts in moving into and out of market segments.
Q:
Which of the following would be classified as foundation goods?
a. fixed equipment
b. operating supplies
c. buildings and land rights
d. maintenance and repair services
e. both (a) and (c)
Q:
An example of a planning and control unit or PCU is a sales territory.
Q:
An emerging development in performing the logistics process is the utilization of third-party logistics firms. Third-party logistics firms can:
a. perform the warehousing function.
b. perform the transportation function.
c. perform the entire logistics process from production scheduling to delivery of finished goods to the customer.
d. all of the above.
e. (a) and (b) only.
Q:
The bowling alley represents a stage in the adoption life cycle where a product gains acceptance from selected groups of customers within the mainstream market but has yet to achieve widespread adoption. Describe the strategy that the business marketing firm should follow at this stage in the technology adoption life cycle. Next, explore the factors that trigger a tornado in high-tech markets and discuss how the focus of strategy changes during this chaotic phase.
Q:
Compared to centralized buyers, decentralized purchasing units emphasize short-term cost efficiency.
Q:
If consumers are not price sensitive in purchasing a consumer product such as Smucker's Jams, a 10% increase in the retail price of strawberry jam because of a 10% increase in the cost of strawberries from farmers will not affect demand for jam. Thus, the derived demand indicates that the demand for strawberries is:
a. elastic
b. inelastic
c. unpredictable
d. unknown
e. none of the above
Q:
Salespersons appear to be able to accept authority and direction from a number of different departments in the organization without a significant negative impact on job satisfaction.
Q:
The use of slower modes of transportation within the logistical network results in:
a. lower variable costs for product movement.
b. higher customer service levels.
c. higher investments in inventory.
d. all of the above
e. (a) and (c) only
Q:
Selecting a hypothetical product and market setting, describe how a business marketing manager might use product positioning analysis to examine the competitive position of a product. Drawing on your illustration, suggest the product strategy implications.
Q:
The information needed for micro level segmentation in the business market can usually be drawn from available secondary sources.
Q:
The skills required to identify, initiate, develop, and maintain profitable customer relationships describes:
a. customer management relationship capabilities.
b. market-sensing capabilities.
c. derived demand.
d. supply chain management.
e. the extended enterprise.
Q:
Frequent contact between the salesperson and sales manager is instrumental to the job satisfaction of the salesperson.
Q:
The "best" mode of transportation to use in moving industrial products to customers is:
a. rail.
b. air.
c. truck.
d. barge.
e. dependent upon cost, service and investment tradeoffs.
Q:
Strategy experts suggest that a company's product or service is competitively superior if, at a price equal to the price of competing products, customers always choose it. With this in mind, consider the spectacular growth of Dell Computera firm that sells direct to organizations and individuals who can place orders by phone or through the Internet. Using the value-in-use concept, describe the costs and benefits a customer faces in buying a computer directly from Dell. On what dimensions would local computer dealers and retailers enjoy an edge over Dell? Overall, what are the critical factors that shape the product strategy followed by Dell?
Q:
If the business marketer can identify meaningful and profitable market segments at the macro level, the segmentation process is complete.
Q:
Which of the following characteristics of business customers is true?
a. A single purchase by a business customer is typically larger than that of an individual consumer.
b. Demand for industrial products is derived from ultimate demand for consumer products.
c. Relationships between business marketers tend to be close and enduring.
d. All of the above characteristics are true.
e. Only (a) and (b) are true.
Q:
The most common form of sales organization found in the industrial market is the market-centered organization.
Q:
A business marketer who shifts from rail to air in the logistical system would likely generate:
a. higher variable costs associated with product movement.
b. lower customer investments in inventory.
c. a higher customer service level.
d. all of the above
e. (a) and (c) only
Q:
Along with consumer-goods names like Nike or Coca Cola, the world's most valuable brands include high-tech representatives such as Intel, Hewlett-Packard, IBM, and Microsoft. Describe the attributes of a strong high-tech brand. Do the investments in building a high-tech brand pay off? Explain.
Q:
Examples of possible micro bases of business market segmentation include size, geographical location, and usage rate of buying organizations.
Q:
The factors that distinguish business marketing from consumer marketing include:
a. the importance of promotion.
b. the intended use of the product.
c. the nature of the customer.
d. all of the above.
e. (b) and (c) only.
Q:
To identify coverage gaps across territories and to better match sales resources with market opportunity, the GE process for accomplishing territory alignment involves
a. evaluating account quality
b. examining account density
c. implementing changes to enhance sales force effectiveness and efficiency
d. all of the above
e. a and c above
Q:
Concerning speed of service in the logistical system, which of the following is(are) accurate?
a. The longer the delivery time, the more inventory customers must maintain to service their needs while the shipment is in transit.
b. The slower modes of transportation involve higher variable costs for product movement.
c. The faster modes of transportation result in the need for higher investments in inventory by customers.
d. all of the above
e. both (b) and (c)
Q:
New products or services that require the end-user and the marketplace to dramatically change their past behavior, with the promise of gaining equally dramatic new benefits are known as ____________________ innovations.
Q:
Micro bases of organizational market segmentation require a high degree of market knowledge and focus on the characteristics of decision-making units within each of the various macrosegments.
Q:
An implication of relationship marketing is:
a. that sellers do not require an intimate knowledge of a customer's operations.
b. that a sale signals the beginning of a relationship, rather constituting the end result.
c. the building of one-to-one relationships.
d. all of the above.
e. (b) and (c) only.
Q:
Which of the following are influences on the potential level of sales in a particular territory?
a. Salesperson characteristics.
b. Competition.
c. Territory characteristics.
d. All of the above.
e. Only (a) and (b).
Q:
_____ is typically the largest logistics expense.
a. Warehousing
b. Inventory control
c. Transportation
d. Order processing
e. Materials handling
Q:
Brand ____________________represents the strength of the psychological bond that a customer has with a brand and the degree to which this connection translates into loyalty, attachment, and active engagement with the brand.
Q:
The concept of market segmentation is more applicable to consumer-goods marketers than to business marketers.
Q:
The buying motives for major installations center on:
a. emotional factors.
b. purely economic or rational considerations.
c. a blend of rational and emotional factors.
d. the initial price and cost.
e. projected maintenance and operating costs.
Q:
When a salesperson attains rewards on a personal basis, such as feelings of accomplishment or self-worth, this is a an example of:
a. internally mediated rewards.
b. externally mediated rewards.
c. job satisfaction.
d. aptitude.
Q:
The use of faster modes of transportation within the logistical network results in:
a. lower variable costs for product movement.
b. higher customer service levels.
c. higher investments in inventory.
d. all of the above
e. (a) and (c) only