Markma 10 questions

Leeyhandizon.blogspot.com

10 Questions for learning

(Analyzing Business Markets: Chapter 7)

Leeyhan Frank B. DizonSeptember 3, 2010

Leeyhandizon.blogspot.com

1. ______ decision-making process by which formal organizations establish the need to purchase products and services

A. Organizational Buying B. Straight RebuyC. Market BuyingD. OutsourcingE. Direct Purchasing

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Concept:

A. Organizational buying is the decision-making process by which formal organizations establish the need to purchase products and services and identify, evaluate and choose among alternative brands and suppliers.


1. ______ decision-making process by which formal organizations establish the need to purchase products and services

A. Organizational Buying B. Straight RebuyC. Market BuyingD. OutsourcingE. Direct Purchasing


2. All are characteristics of Business Markets except

A. Fewer, Larger BuyersB. Direct and Indirect Purchasing

SystemC. Inelastic DemandD. Fluctuating DemandE. Close supplier-customer

relationships

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Concept:

Characterisitcs of Business Markets

A. Fewer Larger Buyers

B. Close supplier-customer relationship

C. Professional Purchasing

D. Many Buying influences

A. Multiple Sales calls

B. Derived DemandC. Inelastic DemandD. Fluctuating

DemandE. Geographically

Concentrated Buyers

F. Direct Purchasing


2. All are characteristics of Business Markets except

A. Fewer, Larger BuyersB. Direct and Indirect Purchasing

SystemC. Inelastic DemandD. Fluctuating DemandE. Close supplier-customer

relationships

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3. The three types of buying situations are: straight rebuy, modified rebuy and ________

A. Original TaskB. Common TaskC. New TaskD. Buying TaskE. Purpose Task

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Concept:

A. Three types of buying situations are the (1) straight rebuy, (2) modified rebuy and (3) new task.

Straight Rebuy

Modified Rebuy

New Task


3. The three types of buying situations are: straight rebuy, modified rebuy and ________

A. Original TaskB. Common TaskC. New TaskD. Buying TaskE. Purpose Task

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4. Which of the following is true?

A. Business Markets have less geographically concentrated buyers.

B. Suppliers must be prepared to adapt their offers to the special needs and procedures

C. business suppliers and customers are focusing on one way to manage their business relationships.

D. Inelastic demand is one of the characteristics of a service market.

E. Purchasing departments were perceived to occupy a high position in the management hierarchy.

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Concept:

A. Institutional & Government Markets consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.

B. Buyers for government organizations tend to require a great deal of paperwork from their vendors and to favor open bidding and domestic companies.

C. Suppliers must be prepared to adapt their offers to the special needs and procedures found in institutional and government markets.


4. Which of the following is true?

A. Business Markets have less geographically concentrated buyers.

B. Suppliers must be prepared to adapt their offers to the special needs and procedures which are found in institutional and government markets.

C. To improve effectiveness and efficiency, business suppliers and customers are focusing on one way to manage their business relationships.

D. Inelastic demand is one of the characteristics of a service market.

E. Purchasing departments were perceived to occupy a high position in the management hierarchy, in spite of often managing more than half the company’s costs.

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5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.

A. Organizational MarketsB. Public and Private InstituitionsC. Service MarketsD. Suppliers and ConsumersE. Instituitional and Government

Markets

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Concept:

A.Institutional & Government Markets consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.


5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.

A. Organizational MarketsB. Public and Private InstituitionsC. Service MarketsD. Suppliers and ConsumersE. Instituitional and Government

Markets

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6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it

is an example of: A. Systems BuyingB. MergingC. Total Quality ManagementD. OutsourcingE. Straight Rebuy

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Concept:

A. Many business buyers prefer to buy a total solution to a problem from one seller. This is called systems buying.

Turn-Key Solution Desired:

Bids Solicited

Prime Contractors Second-tiercontractors

System SubcomponentAssembled


6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it

is an example of: A. Systems BuyingB. MergingC. Total Quality ManagementD. OutsourcingE. Straight Rebuy

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7. The first stage in the buying process is usually called:

A. Observation of current marketB. General Description of the needC. Product and Supplier

SpecificationD. Problem recognitionE. Probing and Identifying the

need.

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Concept:

A. Stages in the buying process include: (1)problem recognition (2) general need description (3) product specification (4) supplier search (5) proposal solicitation (6) supplier selection (7) order-routine specification (8) performance review


7. The first stage in the buying process is usually called:

A. Observation of current marketB. General Description of the needC. Product and Supplier

SpecificationD. Problem recognitionE. Probing and Identifying the

need.

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8. Systems buying is defined as:

A. Buyers improve the system by acquiring a new company with a better facility.

B. General merging of 2 partner companies for better system management.

C. Product and Supplier Relationship made better by new and advanced system

D. Outsourcing of new system from other parties. E. Buyers prefer to buy a total solution to a

problem from one seller

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Concept:

A. Many business buyers prefer to buy a total solution to a problem from one seller. This is called systems buying.

Turn-Key Solution Desired:

Bids Solicited

Prime Contractors Second-tiercontractors

System SubcomponentAssembled


8. Systems buying is defined as:

A. Buyers improve the system by acquiring a new company with a better facility.

B. General merging of 2 partner companies for better system management.

C. Product and Supplier Relationship made better by new and advanced system

D. Outsourcing of new system from other parties. E. Buyers prefer to buy a total solution to a

problem from one seller

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9. If I buy dollars from BPI and have it transferred through Western Union to my family in the US, it is an example of:

A. Catalog SitesB. Barter MarketsC. Vertical MarketsD. Spot MarketsE. Private Exchanges

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Concept:

Forms of Electronic Marketplaces

•Catalog Sites•Vertical Markets•Pure Play Auction Sites•Spot Markets•Private Exchanges•Barter Markets•Buying Alliances

SPOT MARKET•Cash market

where financialinstruments

are traded and delivered immediately


9. If I buy dollars from BPI and have it transferred through Western Union to my family in the US, it is an example of:

A. Catalog SitesB. Barter MarketsC. Vertical MarketsD. Spot MarketsE. Private Exchanges

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10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?

A. StakeholdersB. Board of OfficersC. GatekeepersD. SuppliersE. Evaluators

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Concept:

The Buying Center

Initiators

Users

Influencers

Deciders

Approvers

Buyers

Gatekeepers


A. 10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?

A. StakeholdersB. Board of OfficersC. GatekeepersD. SuppliersE. Evaluators

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10 Questions for learning

(Analyzing Business Markets: Chapter 7)

Leeyhan Frank B. DizonSeptember 3, 2010

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Markma 10 questions