question_key2_6Dec_2nd

| August 14, 2017

31. Because retailers have to be concerned with product selection, price, and space, they oftenevaluate products on the basis ofa) their markup.b) sales per square foot of selling area.c) how many of the product they can fit in a certain amount of space.d) profit per dollar of selling price.e) the reliability of the supplier.32. Which type of business market tends to have the most complex buying procedures?a) Resellerb) Institutionalc) Retailerd) Governmente) Producer33. The recently created Department of Homeland Defense is a member of the _____ market.a) regulatoryb) resellerc) governmentd) producere) institutional34. The state of Montana is preparing to buy a large quantity of frozen orange juice for use in alarge school district. Citrus Sweet, Inc. is in the citrus juice business but has never sold to thegovernment market. To have a chance at getting this order, Citrus Sweet’s first step must be to gether firm toa) make a presentation appointment with the state.b) quote prices to the purchasing department.c) advertise in the capital city.d) negotiate with the state.e) secure a slot on the list of qualified bidders.35. About what percentage of the annual U.S. gross domestic product is government spending?a) 2 percentb) 10 percentc) 20 percentd) 30 percente) 50 percent36. A friend of yours starts his own business. He would like to expand his client base to includethe government, but he believes his small business would be ignored. Based on your knowledgefrom the text, you tell hima) that he’s absolutely right, the government doesn’t deal with small businesses.b) although the government will deal with small businesses, he will never make a profit off agovernment contract.c) that any government, federal, state, or local would laugh at the size of his business.d) the government rarely considers new suppliers when making purchasing decisions.e) the government buys products from all sizes of business, but there is some red tape.37. The government decides to purchase a new fleet of fighter jets for the U.S. Air Force. Whattype of buying procedure is the government most likely to use?a) The government will request bids from all companies on its qualified bidder list.b) It will contact whatever company made the last jets and have them develop the new ones.c) Ads will be placed in the top five circulated U.S. newspapers for a company to produce thejets.d) The government will select a few firms and enter into negotiations with them until thecontract is awarded.e) The contract will go to the first company that submits a reasonable bid for the desired jets.38. Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. Thismeans it is part of a(n) ___________ market.a) producerb) consumerc) resellerd) institutionale) government39. Churches, charitable organizations, and private colleges are considered _____ buyers.a) corporateb) governmentc) institutionald) producere) nonprofit40. Institutional markets area) intermediaries who resell goods to make a profit.b) federal and state government units.c) state or local government units.d) consumers who buy products for their own use.e) organizations that seek nonbusiness goals.41. Which of the following would be considered an institutional buyer?a) The University of Illinoisb) The Environmental Protection Agencyc) Apple Computersd) The United Waye) City of Greenville41. What are the two ways governments make purchases?a) Cash or creditb) Contracting previous suppliers and bidsc) Bids and negotiated contractsd) Lottery system and contract negotiationse) Request for new purchases and recurring orders43. What is a primary difference between business and consumer buyers?a) Consumer buyers require more product information than business buyers.b) Business purchases are made by one individual whereas families make consumer purchasestogether.c) Repeat sales are more common with consumer buyers than business buyers.d) Consumers primarily buy inexpensive items; businesses only buy expensive items.e) Business buyers generally make larger orders than consumer buyers.44. Bob Denton of Denton Pest Control buys equipment from a supplier because that supplierhires him to spray the warehouse for insects periodically. This practice is known asa) cost-benefit analysis.b) cooperative selling.c) reciprocity.d) supplier agreement.e) modified rebuy purchase.45. A disadvantage of reciprocity is that it can lead toa) a price war.b) higher promotional costs.c) more competitive firms entering the industry.d) less-than-optimal purchases for the buyer.e) longer periods of negotiation.46. A practice in which two businesses agree to buy from each other isa) a new task purchase.b) a straight rebuy.c) a modified rebuy.d) reciprocity.e) a straight purchase.47. Which of the following statements about business buying is false?a) Business marketers prefer not to sell to customers who place small orders.b) Business marketers must often sell their products in large quantities to make profits.c) Most business purchases are made by committee.d) Business purchases are usually made on the basis of contracts.e) Orders in business markets tend to be smaller than those placed in consumer markets.48. Many suppliers and their customers invest time and resources to build and maintainmutually beneficial relationships which are often calleda) partnerships.b) co-ops.c) monopolies.d) reciprocity.e) alliances.49. Raython Hardware and Thames Industrial Supplier have worked closely for many years andhave a mutually beneficial relationship in which Raython provides all of Thames’s hardware needs ina timely manner. Raython and Thames’s relationship could be best characterized as a(n)a) reciprocity agreement.b) partnership.c) intra-organizational group.d) alliance.e) tying arrangement.50. Which of the following is true with respect to buyers in business markets?a) Business buyers always act rationally when making purchases for their company.b) Business customers tend to be less informed about the products they purchase thanconsumer buyers.c) Business customers demand detailed information about a product’s quality, features, ortechnical specifications.d) Business customers are no different than buyers in consumer markets.e) Business customers tend to buy products from their friends and contacts with businesssuppliers.51. When buying materials, the purchasing agent for Alco Pillow Manufacturing Companyconsiders a variety of factors. Which one of the following is least likely to concern this buyer?a) Does the quality of the goods meet company specifications?b) Does the supplier consistently deliver on time?c) Does the supplier also sell to my competitors?d) Does the supplier offer the services required?e) Does the price meet company budget requirements?52. Product specifications area) physical characteristics and level of quality.b) types of services that are provided with the product.c) financing available for the product.d) types of competitors offering similar products.e) product return policies.53. Most businesses try to control the level of quality in the parts they buy from suppliers. Mostfirms develop standards for _____ in order to achieve their quality goals.a) how many different suppliers they useb) how many parts can failc) controlling when shipments will arrived) the percentage of defects allowede) how long the parts should last54. All of the following are important concerns of business customers excepta) achieving a specific level of quality in the products offered to target markets.b) obtaining a level of quality that meets specifications.c) obtaining products that exceed specifications to ensure the best possible productperformance.d) obtaining products for which the quality level is consistent.e) supporting customers with services they expect.55. Volkswagen purchases upholstery for the interiors of its vehicles from various suppliers. Thisupholstery must have a set of characteristics that is expressed by Volkswagen. This set is calleda) descriptions.b) product features.c) criterion.d) purchase requests.e) specifications.56. Management at Readyfresh Dry Cleaners is concerned that it maintains a high level ofservice for its business accounts. How should the firm monitor the level of service these customersreceive?a) Develop a code of service.b) Set service objectives.c) Formally survey customers.d) Specify service uniformity.e) Stress truthfulness with employees.57. Johnson’s Industrial Pest Control Service wants to meet its customers’ expectations withregard to the quality of service it provides. How should Johnson’s identify these expectations?a) Conduct market research.b) Use management judgment.c) Trace existing service levels.d) Stress quality service with employees.e) Train employees better.58. A Pillsbury mill in Utah buys grain from growers in the western region. The purchasing agentfor Pillsbury will most likely use which buying method?a) Descriptionb) Inspectionc) Samplingd) Negotiatione) Selection59. Collin Roberts of Roberts Construction is planning to buy a piece of used earth-movingequipment. He would most likely base his purchase decision on ___________ of the alternativemachines.a) descriptionsb) inspectionsc) a samplingd) specificationse) reputations60. Which method of business buying is most likely to be used when the products beingpurchased are standardized based on certain characteristics?a) Homogeneous selectionb) Inspectionc) Descriptiond) Samplinge) Negotiation

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