FREE AND STUDY GAMES ABOUT CHP 6 MARKETING EXAM

PDF Download

FREE AND STUDY GAMES ABOUT CHP 6 MARKETING EXAM

QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -52 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: The first two digits of NAICS

Answer:

designate a sector of the economy

Question 2: What is eMarketplaces

Answer:

are online trading communities that bring together buyers and supplier organizations.

Question 3: What is Organizational Buyer

Answer:

Are those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.

Question 4: What is derived demand

Answer:

the demand for industrial products and services is driven by, or derived from, demand for consumer products and services.

Question 5: The benefits of the NAICS are

Answer:

Permits a firm to find the NAICS codes of present customers & obtain NAICS-coded lists for similar firms. Is possible to monitor NAICS categories to determine the growth in various sectors & industries to identify promising marketing opportunities.Question 6: E-marketplaces exist in settings that have one or more of the following features:

Answer:

Thousands of geographically dispersed buyers and sellers. Changing prices caused by demand and supply fluctuations. Time sensitivity due to perishable offerings and changing technologies. Easily comparable offerings between a variety of suppliers.

Question 7: Number of Potential Buyers

Answer:

Firms selling to organizations usually have far fewer buyers.

Question 8: What is North American Industry Classification System (NAICS)

Answer:

Provides common industry def. for Canada, Mexico, and US, makes easier the measurement of economic activity in the member countries of (NAFTA). The NAICS economic activity to permit studies of market share, demand and services, competition from imports

Question 9: Whyat is new buy

Answer:

the firm is a first-time buyer of the product or service. This involves greater risks, so the buying center is enlarged to include all who have a stake in the new buy.

Question 10: What is Reciprocity

Answer:

Industrial buying practice in which two orgs agree to purchase each other's products and services. U.S.Justice Department frowns on reciprocal buying because it restricts the normal operation of the free market. Long-term contracts are also prevalent

Question 11: Roles in the Buying Center

Answer:

There are five specific roles that an individual in a buying center can play: Users, Influencers, Buyers, Deciders, Gatekeepers

Question 12: Seven commonly used buying criteria are:

Answer:

Price. Meet the quality specs required for the item. Ability to meet delivery schedules. Technical capability. Warranties & claim policies in the event of poor performance. Past performance on previous contracts. Poduction facilities & capacity.

Question 13: What is straight rebuy

Answer:

where the buyer reorders an existing product or service from the list of acceptable suppliers

Question 14: The sixth digit

Answer:

designates individual country-level national industries Question 15: Four questions to provide guidance in understanding the buying center in these

organizations for a given product include:

Answer:

Which individuals are in the buying center? What is the relative influence of each member of the group?What are the buying criteria of each member?mHow does each member perceive the firm, its products, and its salespeople?

Question 16: What is Reverse Marketing

Answer:

deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers.

Question 17: Organizational Buying Objectives

Answer:

usiness firms, buying ismincrease profits by reducing costs or increase revenues. Nonprofit firms & govt agencies are usually to meet needs of the groups they serve. Firms buy from minority & women suppliers & vendors. Other companies buy environmental Question 18: NAICS codes have important limitations:

Answer:

Give 1 code to orgs based on major economic activity, large firms who engage many different activities only

• 5 digit nat'l industry codes not available for all 3 countries b/c govts wont reveal data when few orgs

exist in a category.

Question 19: What buyers buy most online?

Answer:

Organizational buyers account for 80% of the total worldwide value of all online transactions, both in volume and dollar value. U.S. organizational buyers account for about 60% of these online purchases.Question 20: Online buying in organizational markets occurs for three reasons:

Answer:

Org. buyers depend supplier info about product availability, technical specs, application uses, price/delivery. Internet tech. reduce buyer order processing costs and marketing costs, like sales & advertising, & broaden base for products & services.

Question 21: What are Influencers

Answer:

affect the buying decision, usually by helping define the specifications for what is bought.

Question 22: What are the three main types of organizational buyers?

Answer:

industrial firms; resellers; government units

Question 23: Stages in the Organizational Buying Process

Answer:

The same five stages consumers use in the buying decision process applies to organizational purchases: (1) problem recognition, (2) information search, (3) alternative evaluation, (4) purchase decision, (5) postpurchase evaluation.Question 24: A part of the Industrial Market is Industrial Firms, what is an Industrial Firm?

Answer:

reprocess a product or service they buy before selling it again to the next buyer.

Question 25: The fifth digit of NAICS designates

Answer:

specific industry and is the level at which comparable data are available for Canada, Mexico, and the U.S.