saint leo MBA 565 quiz 3 -taken on November 08, 2013

Question 1.1.The new, more
strategically oriented purchasing departments have a mission. Which of the
following most accurately describes that mission? (Points : 5)

Make the most
profit possible and remain independent of entanglements.
Approach every
purchasing opportunity as means to create interdependency.
Seek the best value from fewer and better suppliers.
Outsource the
supply function.
Abandon all
strategies except for systems selling and buying.

Question 2.2.If a marketer is
seeking to segment a business market, which of the following variables is
generally felt to be the most important? (Points : 5)

Personal
characteristics
Demographic variables
Situational factors
Operating variables
Purchasing
approaches

Question 3.3.Not all attempts
to target children, minorities, or other special segments draw criticism.
Which of the following is the best illustration of a company (or industry)
that seems to be marketing to a target segment in a correct and ethical
way? (Points : 5)

McDonald’s
marketing to inner-city youth
R. J. Reynolds
marketing of the Kool brand
Colgate-Palmolive’s Colgate Junior toothpaste
The cereal
industry’s approaches to children
G. Heileman
Brewing’s approach to Colt 45 malt liquor

Question 4.4.When a symphony
orchestra targets people who have broad cultural interests, rather than
only those who regularly attend concerts, the orchestra is targeting
________. (Points : 5)

market mavens
strategic segments
supersegments
occasion segments
psychodemographic
segments

Question 5.5.A marketer is
interested in segmenting a business market on ________ if the marketer
intends to eventually segment the market based on loyalty and attitudes
toward risk. (Points : 5)

situational factors
purchasing
approaches
personal characteristics
operating variables
demographic
variables

Question 6.6.Business markets
differ significantly consumer markets in that business markets possess all
of the following characteristics EXCEPT ________. (Points : 5)

fewer, larger
buyers
close
supplier-customer relationship
professional
purchasing
inverted demand
multiple sales
calls

Question 7.7.The ________
consists of all the organizations that acquire goods and services used in
the production of other products or services that are sold, rented, or
supplied to others. (Points : 5)

business market
consumer market
e-commerce market
global market
supplier market

Question 8.8.If Ampex Support
Systems is the single supplier for a local manufacturing company’s MRO
(maintenance, repair, operating) supplies and needs, Ampex Support Systems
is considered as providing ________ for the manufacturer. (Points : 5)

systems buying
purchasing support
turnkey logistics
decision support
systems contracting

Question 9.9.The purchasing
department buys office supplies on a routine basis. This type of purchase
is classified as a ________. (Points : 5)

straight rebuy
modified rebuy
new task
secondary purchase
preordained
purchase

Question 10.10.Those who favor
localized marketing see national advertising as wasteful because ________.
(Points : 5)

it gets too up
close and personal with consumers
it drives up
manufacturing and marketing costs by reducing economies of scale
it magnifies
logistical problems
it fails to address local needs
all of the above

Question 11.11.The ________
market consists of schools, hospitals, nursing homes, prisons, and other
institutions that must provide goods and services to people in their care.
(Points : 5)

vertical
nonprofit
spot
secondary business
institutional

Question 12.12.Business buyers
are ultimately purchasing solutions to two problems: the organization’s
economic and strategic problem and ________. (Points : 5)

their
own personal need for individual achievement and reward
the community’s
continued health and well-being
the fulfillment of
the company’s social impact goals
to maximize overall
firm performance
none of the above

Question 13.13.A marketer is
interested in segmenting a business market based on technology and customer
capabilities. Which of the following major segmentation variables would
most likely be used by the marketer to assist with the task? (Points : 5)

Demographic
variables
Purchasing
approaches
Situational factors
Personal
characteristics
Operating variables

Question 14.14.In ________
marketing, the firm operates in several market segments and designs
different products for each segment. (Points : 5)

segmented
undifferentiated
differentiated
geodemographic
niche

Question 15.15.Webster cautions
that ultimately, ________ make purchasing decisions. (Points : 5)

only senior
managers
individuals, not organizations,
organizations, not
individuals,
third parties
systems contractors

Question 16.16.________ are
products such as Kiehl’s skin care and Kendall-Jackson wines that are
priced between average middle-market and superpremium Old Luxury brands.
(Points : 5)

Old Luxury brand
extensions
Accessible
superpremium products
Deluxury items
Hourglass products
Masstige goods

Question 17.17.Dennis requests
his father to buy him a PlayStation® for his birthday. With respect to
consumer decision roles, which role is Dennis currently playing? (Points :
5)

initiator
influencer
decider
buyer
gatekeeper

Question 18.18.All of the
following are methods of assessing customer value EXCEPT ________. (Points
: 5)

direct survey questions
exit interviewing
focus-group value
assessment
conjoint analysis
benchmarks

Question 19.19.There are a
series of guidelines for selling to small businesses. Which of the
following should NOT be among those guidelines? (Points : 5)

Don’t waste their
time.
Do keep it simple.
Do use the
Internet.
Don’t forget about
direct contact.
Do lump small and midsize businesses together for
efficiency
sake.

Question 20.20.Volkswagen
concentrates on the small-car market and Porsche on the sports car market.
These would be examples of what is called ________. (Points : 5)

single-segment concentration
selective
specialization
product
specialization
market
specialization
full market
coverage