MSSU MKRT300 Week 5 quiz

Question 1The demand for automated teller machines (ATMs) is based on consumer demand for banking convenience. This is an example of:joint demand.derived demand.volatile demand.demand variability.2.5 points Question 2Businesses choose outsourcing as an alternative to making goods in-house or providing in-house services when:in-house processes often do not incur costs for overheads that an outside vendor would otherwise charge.proprietary technology has the potential to raise security concerns.conflicts arise between nonunion outside workers and in-house union employees.they need to reduce costs to remain competitive.2.5 points Question 3Which of the following statements regarding the nature of the business market is true?Distribution channels for business products are significantly longer than those for consumer products.Customer relationships for business products tend to be short-term and transactions-based.Personal selling plays a larger role in business products markets than in consumer markets.Customer service plays a smaller role in the distribution of business products, as compared to the consumer market.2.5 points Question 4The price negotiation process wherein each marketer develops its bid, including a price that will satisfy the criteria determined by the customer’s problem, need, or opportunity, is known as:competitive bidding.decentralized buying.collective integration.2.5 points Question 5When a business purchaser renews the terms of sale of an item that has performed satisfactorily in the past and requires no new information to decide to purchase it again, the buying situation is called:straight buying.reciprocity.modified rebuying.2.5 points Question 6Inventory practices that seek to boost efficiency by cutting inventories to absolute minimum levels are known as:inventory bounce.just-in-time.stock obsolescence.perpetual inventory management.2.5 points Question 7The system for grouping businesses that grew out of the NAFTA accord is known as the:Standard Industrial Classification System.Industrial Data Records System.International Organization for Standardization 14000 series.North American Industry Classification System.2.5 points Question 8Which is the largest single source of statistical information on the sizes and characteristics of business markets?The North American Industry Classification SystemMarketing research firms such as ACNielsenAuditing firms such as PricewaterhouseCoopersFederal government census reports2.5 points Question 9Which of the following is the largest segment of the business market?Trade industries, which include retailers, wholesalers, and resellers.The commercial market, which includes anyone who acquires products to support production of other goods and services.Government organizations, including the military, state, and federal governments.Institutions such as schools, hospitals, and churches.2.5 points Question 10The identity of the _____ is the most difficult role for salespeople to pinpoint.userdeciderbuyerinfluencer

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