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
interpretive business research
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
Answer(s): products purchased for personal consumption
3) In one way or another, most large companies sell to ________. (1point) other organizations
the service sector
Answer(s): other organizations
4) When compared to consumer markets, business markets are ________. (1point)
approximately the same
5) Which of the following is NOT a way that business and consumer markets differ5 (1point)
nature of the buying unit
satisfaction of needs through purchases
types of decisions
market structure and demand
Answer(s): satisfaction of needs through purchases
6) There are many sets of ________ purchases made for each set of ________ purchases. (1point)
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.
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)
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)
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)
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)
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