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Marketing
Q:
Brand ____________________refers to the customer's ability to recall or recognize a brand under different conditions.
Q:
In time series analysis, the _____ component represents regular, recurring movements within the year.
a. trend
b. cycle
c. seasonal
d. irregular
e. causal
Q:
Which type of goods are treated as an expense item because they do not enter the production process or become part of the finished product?
a. Facilitating Goods
b. Foundation Goods
c. Entering Goods
d. None of the above are correct.
Q:
A salesperson's job performance is a function of:
a. product knowledge and expertise.
b. level of motivation.
c. aptitude or ability.
d. All of the above.
e. Only (b) and (c).
Q:
The warehouse circumvents the need for premium transportation (for example, air freight) and costly order processing by keeping products readily available in local markets. Which type of warehousing involves no capital investment and offers the advantage of flexibility--the firm can increase or decrease its use of space in a given market?
a. merchant
b. mobile
c. fixed
d. third party
e. private
Q:
Brand ____________________is described as the ways in which the brand attempts to meet customers' more abstract psychological or social needs.
Q:
In time series analysis, the _____ component indicates the long-term general direction of the data.
a. trend
b. cycle
c. seasonal
d. irregular
e. causal
Q:
Functional areas other than marketing directly or indirectly affect which of the following ?
a. Product marketing decisions
b. Price marketing decisions
c. Promotion marketing decisions
d. Distribution marketing decisions
e. All of the above are affected
Q:
_____ is the amount of effort a salesperson desires to expend on each of the activities or tasks associated with his or her job.
a. Supervision
b. Motivation
c. Attitude
d. Performance
e. Intrinsic satisfaction
Q:
A business marketer that provides erratic delivery service to industrial distributors:
a. increases the distributor's inventory carrying costs.
b. creates stockouts at the distributor level.
c. damages channel relations.
d. all of the above
e. (a) and (c) only
Q:
____________________ brand equity is defined as the differential effect that customers' brand knowledge has on their response to marketing activities and programs for that brand.
Q:
The Delphi technique is particularly well suited to:
a. new product forecasts.
b. estimation of future events for which historical data are limited.
c. situations that are not suited to quantitative analysis.
d. All of the above.
e. Only (b) and (c).
Q:
Business marketing strategy must be based on an assessment of the:
a. customer.
b. competitor.
c. company.
d. all of the above.
e. (b) and (c) only.
Q:
Which of the following topics must be part of a business firm's salesperson training programs?
a. Effective communication skills.
b. Knowledge about the company.
c. Knowledge about the product line.
d. All of the above.
e. Only (a) and (c).
Q:
In regard to logistical service, the business marketer should:
a. provide the same level of logistical service to all customers.
b. adjust the level of logistical service for different segments based on requirements of the product type.
c. adjust the level of logistical service for different segments based on requirements of the customer.
d. all of the above.
e. (b) and (c) only.
Q:
____________________ is a set of brand assets and liabilities linked to a brand, its name, and symbol that add to or subtract from the value provided by a product or service and/or to that firm's customers.
Q:
Which of the following are true of qualitative approaches to sales forecasting?
a. Effectiveness depends on close relationships between customers and suppliers.
b. They are more appropriate for well-established products.
c. It brings users of the forecast into the forecasting process.
d. All of the above.
e. Only (a) and (c).
Q:
A business marketer becomes a preferred supplier to major customers by:
a. developing intimate knowledge of the customers operations.
b. developing a market orientation organization plan.
c. contributing unique value to a customer's business.
d. all of the above.
e. (a) and (c) only.
Q:
Research suggests that successful national account units:
a. have senior management support.
b. have well-defined objectives.
c. have experienced individuals who know how to create effective customer solutions.
d. All of the above.
e. Only (b) and (c).
Q:
In the management of logistical activities, the performance variable(s) of prime interest (is) are:
a. number of products handled.
b. total distribution costs.
c. inventory movement per warehouse facility.
d. the level of logistical service provided to customers.
e. both (a) and (d)
Q:
The central success factors for the tornado phase of the technology adoption life cycle are remarkably similar to the bowling alley phase.
Q:
Typically, causal models are more reliable for:
a. intermediate than for long-range forecasts.
b. long-range than intermediate forecasts.
c. long-range than short-range forecasts.
d. short-range than long range forecasts.
e. short-range than for intermediate forecasts.
Q:
Companies can demonstrate market-sensing and customer-linking capabilities by:
a. sharing product movement information.
b. jointly planning promotional activities with other channel members.
c. jointly planning product changes with other channel members.
d. all of the above.
e. (a) and (b) only.
Q:
When compared to a traditional selling focus, a key account selling focus is different in which of the following ways?
a. Uses a longer-term time horizon.
b. Wants to lower customer's total costs.
c. Individual salesperson is primary link to customer organization.
d. All of the above.
e. Only (a) and (b).
Q:
In applying the total cost approach to logistical management, management:
a. seeks to minimize the cost associated with each logistical activity in the firm.
b. attention centers on minimizing transportation costs.
c. attention centers on minimizing inventory costs.
d. recognizes that a decision made for one logistical variable affects all or some of the other logistics variables.
e. recognizes the importance of minimizing fixed facility (warehouse) costs.
Q:
For high-technology firms, well-recognized executives and competitive actions can both be drivers of brand attitude change.
Q:
Quantitative forecasting includes the primary methodology called:
a. time series.
b. causal.
c. regression.
d. all of the above.
e. (a) and (c) only.
Q:
Marketers who want to serve both consumer and business market sectors should:
a. develop a market oriented organizational plan.
b. become proficient in understanding customers.
c. become proficient in satisfying customers.
d. all of the above.
e. (a) and (b) only.
Q:
A key account represents a customer who:
a. buys for an organization with geographically concentrated units.
b. involves a small number of key organizational members in the purchasing process.
c. purchases a significant volume as a percentage of a seller's total sales.
d. All of the above.
e. Only (b) and (c).
Q:
As a controllable element in the logistics system, ____ triggers the logistics process and directs the activities necessary to deliver products to customers.
a. order processing
b. customer service
c. production planning
d. inventory management
e. information management
Q:
The four dimensions of a product market definition are customer function, environmental, technological, and value-added system.
Q:
Executive judgement methods produce accurate forecasts when:
a. forecasts are made infrequently.
b. the environment is volatile
c. the linkage between decision, action, and feedback is short.
d. all of the above.
e. (a) and (b) only.
Q:
When companies want to sell products to consumer and business markets, they have to:
a. produce products that are not identical.
b. reorient their business strategies.
c. link customer capabilities.
d. none of the above
Q:
Organization of the sales force depends on the:
a. nature of the product.
b. the length of the product line.
c. the nature of the buying behavior in each segment.
d. All of the above.
e. Only (a) and (c).
Q:
In serving JIT customers, business marketers find that:
a. the typical order size shrinks.
b. more frequent deliveries are required.
c. relationships with JIT customers are longer lasting and often formalized with a written contract that may span up to five years.
d. all of the above
e. (b) and (c) only
Q:
Custom-designed products are creates to meet the needs of one or a small group of customers.
Q:
Sales forecast data is used to:
a. distribute inventory.
b. manage stock levels.
c. directing the entire supply chain process.
d. all of the above.
e. (a) and (b) only.
Q:
Bond Office Products manufactures a diverse array of office supplies and serves the business market. Which of the following characteristics is (are) associated with the marketing strategy for this category of goods?
a. Personal selling is less important for supplies than it is for other categories of goods having a higher unit value, such as installations.
b. the company requires a wide variety of marketing middlemen to cover the broad and diverse market adequately.
c. Price may be critical in the marketing strategy because many office supply items are undifferentiated.
d. All of the above are true.
e. (a) and (c) only
Q:
The second phase of for selecting key accounts:
a. considers the degree to which the transactions with potential customer will complement the economies of the seller's business.
b. identifies those customer accounts that have unique support requirements.
c. centers on the profit potential of a customer.
d. none of the above.
Q:
Many U.S. manufacturers have adopted the just-in-time (JIT) purchasing principle. Concerning this trend, all of the following statements are accurate except:
a. One objective of a JIT system is to eliminate waste of all kinds from the production process.
b. Because JIT attempts to relate purchases to production requirements, the typical order size increases.
c. A significant effect of JIT purchasing has been the drastic reduction in the number of suppliers utilized by manufacturers.
d. Suppliers find that relationships with JIT customers are longer lasting.
e. both (b) and (c)
Q:
Recent research has demonstrated that add-on benefits more strongly influence customer value than core benefits.
Q:
The ideal approach to sales forecasting for the business marketer relies on:
a. strictly quantitative approaches.
b. strictly qualitative approaches.
c. a blend of the Delphi method and well-executed market surveys.
d. a combination of qualitative and quantitative approaches.
e. single and multiple statistical series approaches.
Q:
With little or no additional processing, ____ can be installed directly into another product.
a. component parts
b. component materials
c. operating equipment
d. light factory equipment
e. all of the above
Q:
The first phase of for selecting key accounts:
a. identifies those customer accounts that have unique support requirements.
b. centers on the profit potential of a customer.
c. considers the degree to which the transactions with potential customer will complement the economies of the seller's business.
d. none of the above.
Q:
In contrast to "innovative" products, the supply chain for functional products is designed to:
a. minimize logistics and inventory costs.
b. assure low-cost manufacturing.
c. adapt production capacity to uncertain demand patterns.
d. all of the above
e. (a) and (b) only
Q:
The two forms of customer benefits are core and add-on.
Q:
The most crucial limitation(s) associated with causal methods of sales forecasting is(are):
a. the problem of determining future values of the independent or causal variables.
b. the problem of securing unbiased sales estimates from the sales force.
c. that seasonal variations in performance are difficult to precisely estimate.
d. both (b) and (c).
e. All of the above are crucial limitations of causal methods of sales forecasting.
Q:
The distinguishing characteristic(s) of foundation goods is(are) that they:
a. are capital items.
b. are expense items.
c. become part of the finished product.
d. Both (a) and (c) are true.
e. All of the above are true.
Q:
The final phase of for selecting key accounts:
a. centers on the profit potential of a customer.
b. identifies those customer accounts that have unique support requirements.
c. considers the degree to which the transactions with potential customer will complement the economies of the seller's business.
d. none of the above.
Q:
The supply chains for products that could be categorized as "innovative" (e.g., high-tech products) differ from the supply chains for functional products because:
a. demand is less predictable for innovative products.
b. attention centers on capturing high profits during peak demand periods for the innovative product.
c. minimizing inventory costs is not a major concern with innovative products.
d. all of the above
e. (a) and (b) only
Q:
Brand attitude is defined as the percentage of organizational buyers who have a negative image of a company minus the buyers with a positive one.
Q:
_____ techniques have as their objective the determination of a relationship between sales and one or more variables presumed to be related to sales.
a. Time series
b. Delphi
c. Causal
d. Qualitative
e. Trend extension
Q:
Mead Paper Company recently purchased a new high-speed paper machine for one of their plants. The new machine is used in manufacturing a special grade of paper at a rate of over 1500 feet per minute. This product would be classified as:
a. a facilitating good.
b. an entering good.
c. accessory equipment.
d. an installation.
e. none of the above.
Q:
_____ is a measure of the total business opportunity for all sellers in a particular market.
a. Potential
b. Concentration
c. Dispersed
d. Territory workload
Q:
The most commonly reported benefits for firms that adopt supply chain management are:
a. higher profit margins.
b. enhanced cash flow.
c. higher order-to-delivery cycle time.
d. all of the above.
e. (a) and (b) only.
Q:
A mass market strategy is the appropriate course to follow during the bowling alley phase of the technology adoption life cycle process.
Q:
The _____ component of a time series reflects intermediate-term, regularly recurring, upswings and downswings of data around the long-term general direction of the data.
a. trend
b. cycle
c. seasonal
d. irregular
Q:
Which of the following is(are) characteristic of the marketing strategy that would be appropriate for a firm like Otis Elevator, which sells installations in the business market?
a. Personal selling is the dominant promotional tool.
b. Trade advertising and direct-mail advertising reinforce personal selling.
c. Price is the central force in marketing strategy.
d. All of the above.
e. (a) and (b) only.
Q:
The sales resource grid indicates that a particular territory (planning and control unit) possesses low PCU opportunity and low sales organization strength. This suggests which of the following sales resource assignments?
a. Invest a high level of resources to take advantage of opportunity.
b. Invest a moderate level of resources.
c. Invest a minimal level of sales resources, selectively eliminate resource coverage, or possibly eliminate the PCU.
d. None of the above.
Q:
A firm that can respond to a customer's unique requirements for packaging and order size in a cost-effective manner is addressing which of the following supply chain goals?
a. time compression
b. waste reduction
c. unit cost reduction
d. flexible response
e. inventory reduction
Q:
A finely-tuned market segmentation strategy is critical to success during the tornado phase of the adoption life cycle.
Q:
The _____ component of a time series reflects short-term, random movements in the data that do not conform to a pattern which is regularly related to the calendar.
a. trend
b. cycle
c. seasonal
d. irregular
Q:
Some industrial products have been processed before reaching the industrial customer, but are processed further by this customer before becoming part of the finished product that you buy. These items are called:
a. component parts.
b. facilitating parts.
c. accessory materials.
d. component materials.
e. accessory parts.
Q:
The sales resource grid indicates that a particular territory (planning and control unit) possesses high PCU opportunity and high sales organization strength. This suggests which of the following sales resource assignments?
a. Invest a high level of sales resources to take advantage of opportunity.
b. Invest a minimal level of sales resources.
c. Invest a moderate level of sales resources to keep current position strength.
d. Either direct a high level of sales resources to improve position or shift resources to other PCUs.
Q:
Supply chain management seeks to achieve which of the following goals?
a. waste reduction
b. unit cost reduction
c. flexible response
d. all of the above
e. (a) and (b) only
Q:
Visionaries make the bulk of technology purchases in organizations.
Q:
Company sales, reported on a monthly basis for the past four years, is an example of a:
a. cycle.
b. time series.
c. top-down approach.
d. trend.
e. seasonal index.
Q:
The cost of raw materials such as sheet steel is treated as:
a. an expense item which is depreciated over time.
b. a capital item which is depreciated over time.
c. a fixed cost.
d. an expense item which is assigned to the manufacturing process.
e. none of the above.
Q:
Job satisfaction is theorized to decline when the salesperson's perception of his/her role is:
a. inaccurate in terms of the expectations of superiors.
b. characterized by conflicting demands among role partners that the salesperson cannot possibly resolve.
c. surrounded by uncertainty due to a lack of information about the expectations and evaluation criteria of superiors and customers.
d. all of the above.
e. (b) and (c) only.
Q:
To integrate activities across the supply chain, supply chain management often:
a. requires that firms in the supply chain share sensitive and proprietary information about customers and corporate plans.
b. creates excess inventory in the pipeline leading to the customer.
c. involves higher transportation and handling costs.
d. all of the above.
e. (b) and (c) only
Q:
Determinant attributes are both important and differentiating in the eyes of business market customers.
Q:
Which forecasting technique uses historical data ordered in time to project the trend and growth rate of sales?
a. input/output analysis
b. the Delphi method
c. causal techniques
d. time series analysis
e. market survey method
Q:
Industrial products and services can be broadly classified as:
a. upstream, downstream, and direct goods.
b. entering, manufactured, and fabricated goods.
c. entering, accessory, and manufactured goods.
d. entering, foundation, and facilitating goods.
e. foundation, accessory, and component goods.
Q:
Motivation to perform is thought to be related strongly to:
a. the value the salesperson places on rewards.
b. the individual's perceptions of the types and amounts of rewards that will accrue from various degrees of job performance.
c. the extent to which a salesperson can see him/herself as a member of the target market.
d. (a) and (b) only.
e. (a) and (c) only.
Q:
The supply chain includes a variety of firms, ranging from those that process raw materials to make component parts to those engaged in wholesaling. Included also are organizations engaged in:
a. warehousing.
b. transportation.
c. materials handling.
d. all of the above.
e. (a) and (b) only.
Q:
Strong brands have a personality that defines how it might be described if it had human qualities (for example, friendly, confident).
Q:
Albany Products found that the sales of one of their most important products is logically related to new construction expenditures. If the firm can forecast future values of this variable, which forecasting technique would appear to be most appropriate?
a. time series
b. regression
c. Delphi method
d. trend extension
e. none of the above
Q:
The method of classifying industrial goods into meaningful categories in the business market centers on this question:
a. How does the industrial good enter the production process and the cost structure of the firm?
b. How much effort are organizational buyers willing to exert in purchasing this industrial good?
c. Will organizational buyers purchase this industrial good from a distributor or directly from a manufacturer?
d. What is the weight and unit value of the industrial good?
e. How many product alternatives are organizational buyers willing to consider before making a choice?
Q:
Responsibility for recruiting salespersons may lie with:
a. the first-line supervisor.
b. the Human Resources department.
c. executives at the headquarters level.
d. all of the above.
e. (a) and (b) only.
Q:
Marketing strategies can fail if business marketers do not consider the needs and capabilities of their intermediaries. What are the key factors in effectively motivating channel members?