Business Marketing
Practice Questions
Course Introduction
Business Marketing explores the principles and strategies used by organizations to market products and services to other businesses, rather than to individual consumers. This course covers topics such as business-to-business (B2B) market segmentation, buyer behavior, relationship management, channel strategies, pricing, and the impact of technology on B2B marketing. Students will learn how organizations create value for business customers, develop effective marketing plans, and utilize digital tools to build and maintain long-term partnerships. The course also includes case studies and real-world applications to help students understand the unique challenges and opportunities in the business marketing environment.
Recommended Textbook
Business Marketing Connecting Strategy Relationships and Learning 4th Edition by F. Robert Dwyer
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16 Chapters
1280 Verified Questions
1280 Flashcards
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Chapter 1: Introduction to Business Marketing
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80 Flashcards
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Sample Questions
Q1) Gates Controls may purchase plastic casing,a component part,from Plastech and parts from Metric Devices and then put these components together into a tachometer that is sold to GM.GM would then put the tachometer into its cars or trucks.GM may refer to the part as a(n)
A) Assembly
B) Manufactured material
C) Accessory equipment
D) Capital equipment
E) MRO item
Answer: A
Q2) Ultimately,most demand is derived from government purchases such as arms sales. A)True
B)False
Answer: False
Q3) Personal selling dominates the promotional mix employed in business marketing.
A)True
B)False
Answer: True
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3
Chapter 2: The Character of Business Marketing
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80 Flashcards
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Sample Questions
Q1) The use of power has no place in negotiations between members of a distribution channel.
A)True
B)False
Answer: False
Q2) This phase of the relationship development process is characterized by the parties' exchanging of significant resources.
A) Exploration
B) Attraction
C) Commitment
D) Expansion
E) Reciprocation
Answer: C
Q3) According to the text,the value of any system depends:
A) On the creation of long-running relationships with all comers
B) Only on the communication content between transacting parties
C) On the identity of the vendors and users
D) Only on the user's personal expertise and deft problem solving
E) On the depth and quality of ongoing support given by the vendor
Answer: E
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Chapter 3: The Purchasing Function
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80 Flashcards
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Sample Questions
Q1) The quantity that minimizes BOTH ordering and storing costs is called:
A) JIT
B) EDI
C) EOQ
D) SRM
E) ESI
Answer: C
Q2) Selling to governments can take much longer than selling to corporations.
A)True
B)False
Answer: True
Q3) Company A can agree to a _____,which means that Company A will reimburse Company B for all of its costs plus a certain percentage for Company B's profit.
A) Caveat emptor
B) Fixed-price agreement
C) Nondisclosure agreement
D) Economic order quantity
E) Cost-plus contract
Answer: E
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Page 5
Chapter 4: Organizational Buyer Behavior
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80 Flashcards
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Sample Questions
Q1) A low-risk decision is either one with a high probability of a positive outcome,or the outcome itself is relatively unimportant.
A)True
B)False
Q2) According to the buying determinants theory,how do market factors impact how decisions are made?
Q3) Ron is an engineer working in Affinity Technology Group Inc.,a provider of consumer financial services.He is the primary contact for his company with vendors,AND controls all of the information,deciding what to pass along to others in the decision-making process.The result is that Ron is able to slant perceptions of the vendors by choosing which information is passed along,and the final decision reflects his own personal preferences.In terms of the buying center,Ron is a(n):
A) Purchasing agent
B) Gatekeeper
C) Decision maker
D) User
E) Controller
Q4) Compare and contrast influencers and gatekeepers?
Q5) Compare and contrast financial risk,performance risk,and social risk?
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Chapter 5: Market Opportunities: Current and Potential
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80 Flashcards
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Sample Questions
Q1) Sugging:
A) Is the seller's ability to provide value
B) Is the unethical practice of using marketing research as a guise for selling
C) Is the percentage of accounts that continue doing business with the seller each year
D) Means that members of a market can be reached by some directed marketing activity
E) Generally refers to marketing efforts to secure a valued categorization in the mind of a customer
Q2) Business managers have often noted that 20 percent of customers account for _____ percent of sales.
A) 60
B) 80
C) 20
D) 40
E) 30
Q3) What are the three major factors for the popularity of focus group research?
Q4) Write a short note on the 80-20 and 75-10 rules?
Q5) Compare and contrast scenarios and the buildup approach?
Q6) Briefly describe data mining?
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Chapter 6: Marketing Strategy
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Sample Questions
Q1) Since SWOT analysis is built on actual performance of the firm and its environment,it is good to get the information from several individuals or groups.
A)True
B)False
Q2) Under a _____ strategy,one may be trying to convert the business to cash by selling off assets or selling the whole operation.
A) Status quo
B) Investment
C) Milking
D) Market expansion
E) Divestment
Q3) Synergy implies:
A) Detailed aims and action plans for the functional areas
B) The whole is greater than the sum of its parts
C) The level of investment in the product market
D) Formal expression of why the organization exists
E) Resource commitments
Q4) Define SWOT analysis.Briefly describe its characteristics with examples?
Q5) Write a short note on synergy?
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Chapter 7: Weaving Marketing Into the Fabric of the Firm
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) In terms of integrating marketing efforts,which of the following statements is FALSE?
A) Compensation can help turn budgeting into teamwork
B) Different groups within marketing competing for the same budget could create ill will
C) Fights over budgets can create bad feelings and damage relationships
D) Budgets are the only "money" issue that can damage or enhance relationships
E) By using a joint compensation system, all of those competing for budget end up being paid based on the same performance
Q2) Write a brief note on internal partnering?
Q3) The marketing function may serve multiple vertical or geographical markets in a(n):
A) Matrix organization
B) Functional organization
C) Product organization
D) Divisional organization
E) Hierarchical organization
Q4) If profitability is the supragoal,customer satisfaction becomes very important.
A)True
B)False
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9
Chapter 8: Developing and Managing Offerings: What Do Customers
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) In terms of using upgrades strategically,by quickly launching a product that meets the most important need,many companies gain the:
A) First-mover advantage
B) Primary advantage
C) Initial-entrant premium
D) Premium entrant advantage
E) Absolute advantage
Q2) All of the following are prime causes of new product failure EXCEPT:
A) Failure to use beta testing
B) Lack of marketing orientation
C) Poor coordination
D) Failure to have a technological advantage
E) Failure to use a technological advantage
Q3) All of the following statements about new products are true EXCEPT:
A) More than one-third of all new products fail
B) Old products are being withdrawn from the market at an increasingly rapid rate
C) The key to successful products is solid planning
D) The risk associated with new product development has been drastically reduced
E) New products may mean the difference between profit and loss for a firm
Page 10
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Chapter 9: Business Marketing Channels: Partnerships for
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Sample Questions
Q1) _____ power is the ability to provide payoffs to a party for specified behaviors or outcomes.
A) Coercive
B) Expert
C) Reward
D) Persuasive
E) Referent
Q2) Which of the following channel intermediaries provides the most number of functions?
A) Drop shippers
B) Rack jobbers
C) Brokers
D) Selling agents
E) Commission merchants
Q3) Channel functions can be shifted between buyers and members of the channel.
A)True
B)False
Q4) Full-function wholesalers are firms that provide no buyer financing or delivery.
A)True
B)False
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Chapter 10: Creating Customer Dialogue
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Sample Questions
Q1) These are goals aimed at changing minds of customers regarding corporate images,beliefs about the specific product etc.
A) Strategic goals
B) Tactical goals
C) Action goals
D) Positioning goals
E) Social goals
Q2) Tactical goals specify the desired outcomes for specific communication efforts.
A)True
B)False
Q3) Traditionally,when business marketers discussed their marketing communications budget,they meant their:
A) Sales budget
B) Advertising budget
C) Marketing budget
D) Public relations budget
E) Production budget
Q4) Write a short note on the objective-and-task method of budgeting and its advantages?
Q5) Why is it imperative to integrate marketing communications?
Page 12
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Chapter 11: Communicating Via Advertising, trade Shows and PR
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80 Flashcards
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Sample Questions
Q1) The number of times someone looks at home pages is often measured in:
A) CPIs
B) Click-throughs
C) CPMs
D) Hits
E) CPAs
Q2) Which of the following media offers the best combination of creativity,flexibility and short production times?
A) Television
B) Print
C) Radio
D) Billboard
E) The web
Q3) The effectiveness of a trade show for a specific firm in that show is BEST measured by attraction efficiency,the total attendance at the show.
A)True
B)False
Q4) Write a short note on specialty advertising and the different types of specialty advertising?
Page 13
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Chapter 12: The One to One Media
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Sample Questions
Q1) The rapid growth of the Internet has all but destroyed direct mail marketing.
A)True
B)False
Q2) It always takes several weeks to design and execute telemarketing programs.
A)True
B)False
Q3) Adding a toll-free call number to a direct mail copy,typically,finds value as:
A) Potential customers find it easy to initiate contact and put the seller in an adaptive mode
B) It is able to generate a better lead gathering program
C) It is able to satisfy transaction and presale channel preferences of existing customers
D) It eliminates the need of a firm to provide customer service
E) Firms are able to manage logistical operations better
Q4) Telemarketing is limited by all of the following EXCEPT it's:
A) Intrusiveness
B) Inability to provide demonstrations
C) Inability to handle complex questions/explanations well
D) Inability to handle complex customer requirements
E) Ability to sell anything
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Chapter 13: Sales and Sales Management
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Sample Questions
Q1) Why do most firms use some form of combination compensation plans?
Q2) A(n)_____ is a loan paid to the salesperson to provide stable cash flow and is repaid from commission.
A) Cap
B) Quota
C) Incentive
D) Draw
E) Bonus
Q3) Secura Insurance Company Limited provides life insurance to individuals and groups in China.Company representatives also try to sell their portfolio management services and fund management programs along with life insurance.This case best exemplifies:
A) Bait and switch
B) Upselling
C) Cross-selling
D) Full-line forcing
E) Upgrading
Q4) Full-line selling,a disguised form of full-line forcing,is illegal.
A)True
B)False
Page 15
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Chapter 14: Pricing and Negotiating for Value
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Sample Questions
Q1) In order to protect the image of its product and its right to make a profit,sellers are allowed to manage reseller prices directly.
A)True
B)False
Q2) Gross profits or unit margins at certain levels of the channel are expressed as percentages of that organization's unit price or net sales.
A)True
B)False
Q3) In monopolistic competition,firms making substantial profits tend to be emulated,this shrinks the once substantial profits,because when _____,there are no profits.
A) Marginal revenue equals average revenue
B) Average total cost equals average fixed cost
C) Average revenue equals marginal cost
D) Marginal revenue equals average total cost
E) Average revenue equals average total cost
Q4) Write a short note on monopolistic competition relating it to the profit maximization model?
Q5) Compare and contrast "pull" and "push" strategies?
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Chapter 15: Evaluating Marketing Efforts
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Sample Questions
Q1) An information system is the mechanism for storing,accessing and manipulating information.
A)True
B)False
Q2) Identify the INCORRECT statement about micro control.
A) It involves monitoring the progress of the overall marketing strategy
B) It can include evaluations of product lines, market segments or functional areas
C) Here, managers compare monthly or even weekly performance of specific areas against goals or standards
D) Tracking salesperson performance against quota is an example of micro control
E) Control systems flow from the macro to the micro level
Q3) By definition,a quota is always the top of the tolerance range.
A)True
B)False
Q4) Output analysis can be in the form of performance evaluations for trade shows,the sales force and other marketing areas.
A)True
B)False
Q5) Discuss are the standard setting processes?
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Chapter 16: Customer Retention and Maximization
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Sample Questions
Q1) Always-a-share and lost-for-good represent polar ends of a continuum of exchange situations.
A)True
B)False
Q2) Modularity means the system is composed of distinct subsystems or components.
A)True
B)False
Q3) Traditionally,firms have placed greater emphasis upon gaining customers than keeping them.
A)True
B)False
Q4) _____ have become standard means of tracking and tuning business relationships.
A) Satisfaction surveys
B) Supragoals
C) Scholastic reviews
D) Professional forums
E) Conferences
Q5) Why has customer retention become one of the most critical factors in the survival/profitability of the modern firm?
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Q6) Why has communication been called the "glue that holds together" a relationship?