Question 1

Trek uses several organizational buying criteria to evaluate potential suppliers. These include all of the following EXCEPT:

Accepted Answer

A)  price.
B)  environmental impact.
C)  warranties and claim policies.
D)  quality.
E)  delivery capabilities.F) All of the above
G) A) and B)

Question 2

The buying situation where users, influencers, or deciders want to change product specifications, price, delivery schedule, or supplier for an item that is largely the same as what was previously purchased is referred to as a

Accepted Answer

A)  secondary buy.
B)  straight rebuy.
C)  modified rebuy.
D)  adapted buy.
E)  remake buy.F) B) and E)
G) A) and B)

Question 3

According to the textbook, JCPenney buys paper for which of the following medium(s) ?

Accepted Answer

A)  in-store signage
B)  special advertising inserts in magazines such as Cosmopolitan
C)  newspaper inserts and direct mail pieces
D)  annual and 10K reports
E)  point-of-purchase displaysF) B) and D)
G) All of the above

Question 4

Which of the following characterizes organizational buyer-seller relationships?

Accepted Answer

A)  Purchases are often made after brief negotiations if any.
B)  Supply partnerships may eventually develop.
C)  Short-term contracts are often prevalent.
D)  Reciprocal arrangements provide the most flexibility to buyer and seller.
E)  Delivery schedules are less important than production capacity.F) B) and E)
G) All of the above

Question 5

The demand for industrial products and services that is driven by demand for consumer products and services is referred to as

Accepted Answer

A)  secondary marketing.
B)  derived demand.
C)  reciprocal supply.
D)  demand elasticity.
E)  sequential demand.F) C) and D)
G) A) and B)

Question 6

The North American Industry Classification System (NAICS)  provides common industry definitions to facilitate the measurement of economic activity for the member countries of the

Accepted Answer

A)  European Union (EU) .
B)  United Nations (UN) .
C)  North American Free Trade Agreement (NAFT
A)  .
D)  North Atlantic Treaty Organization (NATO) .
E)  World Trade Organization (WTO) .F) A) and D)
G) C) and D)

Question 7

The North American Industry Classification System (NAICS)

Accepted Answer

A)  provides common industry definitions for North America, Central America, and South America to measure economic activity in the Western Hemisphere.
B)  provides common industry definitions between Canada and the United States to measure economic activity and reduce barriers of trade for cross-border firms.
C)  provides a classification system for products and services that is consistent worldwide.
D)  provides a classification system for products and services that is consistent across North America, Central America, and South America to measure economic activity in the Western Hemisphere.
E)  provides common industry definitions for Canada, Mexico, and the United States to measure economic activity in the three member countries.F) A) and B)
G) B) and E)

Question 8

A supply partnership exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of

Accepted Answer

A)  putting competitors of both buyers and sellers out of business.
B)  lowering costs and increasing profits for the supplier.
C)  lowering costs or increasing value of products or services to the ultimate consumer.
D)  creating a single channel of distribution.
E)  creating an exclusionary relationship from all other buyers and sellers.F) A) and D)
G) A) and E)

Question 9

Federal, state, and local agencies that buy products and services for the constituents they serve are referred to as

Accepted Answer

A)  industrial markets.
B)  reseller markets.
C)  consumer markets.
D)  government units.
E)  global markets.F) A) and D)
G) All of the above

Question 10

The term __________ is used to identify a group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.

Accepted Answer

A)  procurement committee
B)  purchasing department
C)  buying center
D)  gatekeepers
E)  acquisition officeF) A) and B)
G) C) and E)

Question 11

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their facilities?

Accepted Answer

A)  problem recognition
B)  information search
C)  purchase decision
D)  postpurchase behavior
E)  alternative evaluationF) D) and E)
G) None of the above

Question 12

Derived demand means the demand for industrial products and services is driven by, or derived from, the

Accepted Answer

A)  NAICS statistical models.
B)  gross national product.
C)  demand for consumer products and services.
D)  demand for other industrial products and services.
E)  demand for government products and services.F) A) and E)
G) B) and E)

Question 13

There are seven commonly used organizational buying criteria. One of them is __________.

Accepted Answer

A)  adaptability
B)  consumer demand
C)  ability to meet required delivery schedules
D)  senior management directives
E)  adherence to corporate social responsibility policiesF) A) and C)
G) A) and E)

Question 14

The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers is referred to as

Accepted Answer

A)  buyer development.
B)  a supply partnership.
C)  a make-buy decision.
D)  supplier development.
E)  buyer-seller reciprocity.F) A) and D)
G) A) and C)

Question 15

Which of the following possible characteristics of consumer buying is LEAST likely to enter into an organizational buying decision?

Accepted Answer

A)  comparison of product performance with expectations
B)  purchase decisions based on the highest overall evaluation
C)  alternatives evaluated on important criteria
D)  information gathered from internal and external searches
E)  problem recognition triggered by self-actualization motivesF) A) and E)
G) A) and B)

Question 16

The North American Industry Classification System (NAICS)  designates industries with a numerical code in a defined structure. A six-digit coding system is used. The third digit designates a(n)

Accepted Answer

A)  industry subsector.
B)  industry group.
C)  specific industry.
D)  individual country-level national industry.
E)  sector of the economy.F) A) and E)
G) A) and D)

Question 17

Lara assumed the __________ role in the buying center when she shook the salesperson's hand and said, "Ms. Hron, we would like to accept your bid. I'll expect 48 boxes of ring shank nails to be delivered by November 8th, and we will pay the agreed-upon price of $21.74 per box."

Accepted Answer

A)  gatekeeper
B)  broker
C)  buyer
D)  influencer
E)  userF) A) and B)
G) B) and E)

Question 18

Kim Nagele, senior sourcing manager at JCPenney, purchases tons of publication paper annually at a cost of hundreds of millions of dollars. As described and inferred in the text, Mr. Nagele performs all of the following roles in the JCPenney buying center EXCEPT:

Accepted Answer

A)  user
B)  gatekeeper
C)  influencer
D)  buyer
E)  deciderF) C) and D)
G) A) and C)

Question 19

For routine orders, the decider is usually

Accepted Answer

A)  the buyer or purchasing manager.
B)  the CEO.
C)  the COO.
D)  the head of R&D.
E)  the customer.F) A) and B)
G) A) and C)

Question 20

An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as __________.

Accepted Answer

A)  a tying arrangement
B)  exclusive dealing
C)  reciprocity
D)  a supply partnership
E)  noncompetitive biddingF) B) and D)
G) All of the above

Exam 5: Understanding Organizations As Customers

The North American Industry Classification System (NAICS) designates industries with a numerical code in a defined structure. A six-digit coding system is used. The third digit designates a(n)

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For routine orders, the decider is usually

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The North American Industry Classification System (NAICS)

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Lara assumed the __________ role in the buying center when she shook the salesperson's hand and said, "Ms. Hron, we would like to accept your bid. I'll expect 48 boxes of ring shank nails to be delivered by November 8th, and we will pay the agreed-upon price of $21.74 per box."

Correct AnswerverifiedShow Answer

Derived demand means the demand for industrial products and services is driven by, or derived from, the

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At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their facilities?

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An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as __________.

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A supply partnership exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of

Correct AnswerverifiedShow Answer

Kim Nagele, senior sourcing manager at JCPenney, purchases tons of publication paper annually at a cost of hundreds of millions of dollars. As described and inferred in the text, Mr. Nagele performs all of the following roles in the JCPenney buying center EXCEPT:

Correct AnswerverifiedShow Answer

The term __________ is used to identify a group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.

Correct AnswerverifiedShow Answer

There are seven commonly used organizational buying criteria. One of them is __________.

Correct AnswerverifiedShow Answer

Federal, state, and local agencies that buy products and services for the constituents they serve are referred to as

Correct AnswerverifiedShow Answer

Trek uses several organizational buying criteria to evaluate potential suppliers. These include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

The North American Industry Classification System (NAICS) provides common industry definitions to facilitate the measurement of economic activity for the member countries of the

Correct AnswerverifiedShow Answer

The demand for industrial products and services that is driven by demand for consumer products and services is referred to as

Correct AnswerverifiedShow Answer

Which of the following possible characteristics of consumer buying is LEAST likely to enter into an organizational buying decision?

Correct AnswerverifiedShow Answer

Which of the following characterizes organizational buyer-seller relationships?

Correct AnswerverifiedShow Answer

The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers is referred to as

Correct AnswerverifiedShow Answer

According to the textbook, JCPenney buys paper for which of the following medium(s) ?

Correct AnswerverifiedShow Answer

The buying situation where users, influencers, or deciders want to change product specifications, price, delivery schedule, or supplier for an item that is largely the same as what was previously purchased is referred to as a

Correct AnswerverifiedShow Answer

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Lara assumed the __________ role in the buying center when she shook the salesperson's hand and said, "Ms. Hron, we would like to accept your bid. I'll expect 48 boxes of ring shank nails to be delivered by November 8^th, and we will pay the agreed-upon price of $21.74 per box."

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