question_key2_6Dec

Question # 00004727 Posted By: smartwriter Updated on: 12/05/2013 03:39 PM Due on: 12/31/2013
Subject Business Topic General Business Tutorials:
Question
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1. What are the four major types of business markets, and what are the characteristics of each?
2. Discuss the differences between business and consumer transactions.
3. What are some of the major concerns of business customers in making purchase decisions?
4. What factors affect the purchase method that business customers choose?
5. Compare and contrast the three major types of purchases made by business customers.
6. Discuss how demand for business products differs from demand for consumer products.
7. What is derived demand?
8. Explain how purchase decisions for business products may be influenced by persons in a
buying center.
9. Draw and label the framework that represents the business buying decision process and the
factors that influence it.
10. In what ways do environmental factors affect the business buying decision process?
11. How do a firm's objectives affect the business buying decision process?
12. Discuss how interpersonal factors influence the business buying decision process.
13. How do individual factors affect the business buying decision process?
14. Compare and contrast the consumer buying decision process and the business buying
decision process.
15. In what ways can an industrial classification system be used by business marketers to
analyze target markets?
16. What are the major advantages of the North American Industry Classification System (NAICS)
compared to the Standard Industrial Classification (SIC) system?
17. A(n) _____ market consists of individuals or groups that purchase products for resale, use in
production, or daily operations.
18. The three purposes for which individuals or groups can use products in order for it to be
considered a business market are
a) use in daily operations, end consumption, and resale.
b) direct use in producing other products, company travel, and end consumption.
c) resale, use in daily operations, and direct use in producing other products.
d) governmental, institutional, and reseller purposes.
e) making other products, selling to other businesses, making component parts.
19. In business markets, individuals or groups purchase products for one of three purposes.
These purposes are
a) resale, wholesale, and direct use.
b) wholesale, direct use, and use in producing other products.
c) resale, wholesale, and use in producing other products.
d) resale, direct use in producing other products, and use in general daily operations.
e) use in general daily operations, wholesale, and resale.
20. When Hunter Ceiling Fans buys electrical wire for use in producing its ceiling fans, Hunter is
part of what type of market for electrical wire?
a) Resale
b) Wholesale
c) Customer
d) Consumer
e) Business
21. Business markets are typically divided into four categories. These categories are
a) retailers, wholesalers, services, and nonprofit firms.
b) producer, manufacturer, reseller, and government.
c) producer, reseller, government, and institutional.
d) manufacturer, wholesaler, retailer, and services.
e) reseller, retailer, government, and institutional.
22. Individuals and business organizations that purchase products for the purpose of making a
profit either by using the products to produce other products or by using them in their operations
are classified as ___________ markets.
a) consumer
b) institutional
c) producer
d) government
e) reseller
23. An accountant who purchases software for maintaining clients' books is an example of a
buyer in a(n) ___________ market.
a) consumer
b) producer
c) reseller
d) government
e) institutional
24. Individuals and business organizations that buy finished goods and resell them to make a
profit without changing the physical characteristics of the product are classified as ___________
markets.
a) consumer
b) institutional
c) producer
d) government
e) reseller
25. ______ buy products from manufacturers and then resell the products to other firms in the
distribution system.
a) Retailers
b) Producers
c) Distributors
d) Warehouses
e) Wholesalers
26. Mike's Roadside Market buys produce from area farmers, marks the merchandise at a price
that includes some profit, and then sells the fruit and vegetables to the people in and around
Centerville. Mike's would be classified as part of a ___________ market.
a) consumer
b) producer
c) government
d) reseller
e) wholesaler
27. Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of
manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools,
Inc. The company would be part of what type of business market?
a) Reseller
b) Producer
c) Consumer
d) Government
e) Supply
28. Motorola buys silicone which is used in its chip-making process. Motorola produces
microchips for use within a wide variety of products for other firms, such as Ford, GM and Samsung.
Motorola is a buyer in a _____ market.
a) producer
b) government
c) reseller
d) construction
e) institutional
29. Retailers like Target and Kmart are considered to be members of which business market?
a) Reseller
b) Customer
c) Producer
d) Institutional
e) Services
30. Kroger Grocery Store is an example of a reseller. Which of the following factors concerning
reseller purchase decisions is false?
a) Resellers are concerned with the level of demand for the product.
b) Resellers are not concerned with how much space the product takes up as long as it has a
high price.
c) Resellers want producers to be able to supply adequate quantities of the product.
d) Resellers are concerned with the availability of technical and promotional assistance from
the producer.
e) Resellers are concerned with the markup percentage they can get on the product.
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Tutorials for this Question
  1. Tutorial # 00004524 Posted By: smartwriter Posted on: 12/05/2013 03:41 PM
    Puchased By: 3
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    merchandise at a pricethat includes some profit, and then sells ...
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    question_key2_6dec_-_Answer.docx (12.7 KB)

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