Marketing and Products

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1) As a purchasing agent, Benni Lopez buys goods and services for use in the production of products that are sold and supplied to others. Benni is involved in ________. (1point)
business buyer behavior

retail buyer behavior

consumer buying behavior

post-purchase dissonance

interpretive business research

Score: 1
Answer(s): business buyer behavior

2) Business buying behavior refers to the buying behavior of organizations that buy all of the following EXCEPT ________. (1point)
services for use in production of other services

products purchased to resell to others

products purchased for personal consumption

products for use in production of other products

products purchased to rent to others

Score: 0
Answer(s): products purchased for personal consumption

3) In one way or another, most large companies sell to ________. (1point) other organizations

employees

the service sector

not-for-profit companies

consumers

Score: 1
Answer(s): other organizations

4) When compared to consumer markets, business markets are ________. (1point)
approximately the same

somewhat larger

huge

smaller

less complex

Score: 0
Answer(s): huge

5) Which of the following is NOT a way that business and consumer markets differ5 (1point)
decision processes

nature of the buying unit

satisfaction of needs through purchases

types of decisions

market structure and demand

Score: 0
Answer(s): satisfaction of needs through purchases

6) There are many sets of ________ purchases made for each set of ________ purchases. (1point)
product; service

service; product

business; consumer

tangible; intangible

consumer; business

Score: 0
Answer(s): business; consumer

7) Which of the following is true about business marketers in comparison to consumer marketers? (1point)
They deal with the same decision buying process.

They deal with far more but far small buyers.

They deal with far fewer but far larger buyers.

They deal with a more elastic market.

They deal with fewer demands in fluctuation.

Score: 0
Answer(s): They deal with far fewer but far larger buyers.

8) Hewlett-Packard and Dell buy Intel microprocessor chips because consumers buy personal computers. This demonstrates an economic principle called ________. (1point)
fluctuating demand

joint demand

derived demand

elastic demand

market demand

Score: 0
Answer(s): derived demand

9) The Pure Drug Company produces insulin, a product with a very stable demand, even though the price has changed several times in the past two years. Insulin is a product with ________ demand. (1point)

service

fluctuating

inelastic

joint

elastic

Score: 0
Answer(s): inelastic

10) The demand for many business goods and services tends to change more, and more quickly, than the demand for consumer goods and services does. This is referred to as ________ demand. (1point)

supplier

derived

inelastic

fluctuating

elastic

Score: 0
Answer(s): fluctuating

11) Large business purchasers usually call for detailed product specifications, written purchase orders, careful supplier searches, and formal approval. These are all examples of how the business buying decision process is more ________ than the consumer buying decision process is. (1point)

relationship-oriented

independent

formalized

creative

concentrated

Score:...
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