Transactional exchange features very close

1.Transactional exchange features very close:

a.	informationlinkages.
b.	sociallinkages.
c.	operationallinkages.
d.	allof the above.
e.	noneof the above.

2._____reflect(s) the degree to which the systems, procedures, and routines of the buying and selling firms have been connected to facilitate operations.

a.	Relationship connectors
b.	Information exchange
c.	Cooperative norms
d.	Operational linkages
e.	Legal bonds

3.Which of the following statements about buyer-seller relationshipsis(are) true?

a.	Customers prefer a transactional orientation when there are few alternative offerings from suppliers.
b.	Customers emphasize a collaborative orientation when the purchase decision is not complex.
c.	Collaborative relationships are more likely to involve operational linkages and high levels of information exchange.
d.	All of the above
e.	None of the above

4.For transactional customers, the business marketer should:

a.	seethat operational linkages are designed into the relationship to keep product and service offerings aligned with customer needs.
b.	directlyassist the customer with planning and strategy issues.
c.	focusprimary attention on the purchasing staff.
d.	allof the above
e.	noneof the above

5.Business marketers track customer loyalty and retention because:

a.	thecost of new customers is often far less than long-standing customers.
b.	allsatisfied customers will remain loyal.
c.	thefirm can identify opportunities for expanding the relationship.
d.	thecost of serving established customers usually increases.

6._____involves a partner’s belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it.

a.	Trust
b.	Relationship commitment
c.	Relationship marketing
d.	A strategic alliance

7.A(n) _____ represents the products, services, ideas, and solutions that a business marketer offers to advance the performance goals of the customer organization.

a.	industrybandwidth
b.	valueproposition
c.	marketingplan
d.	customerrelationship management program

8.Which of the following performance attributes has research recently shown influences customer satisfaction of business buyers?

a.	Responsiveness of the supplier in meeting the firm’s needs.
b.	Product quality.
c.	Delivery reliability.
d.	All of the above.
e.	Only (a) and (b).

9._____illuminates exactly what activities are associated with serving a particular customer and how these activities are linked to revenues and the consumption of resources.

a.	Customer profitability
b.	Activity-based costing
c.	Total cost of ownership
d.	Margin analysis

10.____is composed of at least two dimensions: (1) trust in the salesperson and (2) satisfaction with thesalesperson.

a. role definition

b. relationaladaptiveness

c. relationship quality

d. role congruity

e. relationship congruity

11.Concerning segmentation criteria, _____ refers to the degree to which information on the particular buyer characteristic exists or can be obtained.

a.	Measurability
b.	Accessibility
c.	Substantiality
d.	Responsiveness
e.	Enforceability

12.Market segmentation is:

a.	moreuseful to consumer goods marketers than to business marketers.
b.	oflittle value to business marketers that concentrate on the governmental and institutional sectors of the organizational market.
c.	difficultto apply in the business market because groups, not individuals, make many purchasing decisions.
d.	auseful tool for both business and consumer goods marketers.
e.	inappropriatefor low market share firms.

13.The business market can be segmented on several bases, broadly classified into two major categories:

a.	economicand demographic.
b.	macroand micro.
c.	top-down and bottom-up.
d.	concentrationand coverage.
e.	organizationaland end-use application.

14.Lansing Motor Works produces a line of precision motors. Based on feedback from the sales force, management has learned that one of their new motors is especiallywell-suited to high-speed packaging systems. The new motor requires less maintenance and has a longer useful life than competing offerings. Lansing Motor Works is now concentrating on this segment. This provides an illustration of segmentation on the basis of:

a.	usagerate.
b.	purchasingstrategy.
c.	sizeof firm.
d.	value-in-use.
e.	organizationalinnovativeness.

15.Which of the following is not one of the criteria for assessing the desirability of a potential market segment?

a.	Measurability
b.	Accessibility
c.	Responsiveness
d.	Substantiality
e.	Accountability

16.A _____ is a group of present or potential customers with some commoncharacteristic which is relevant in explaining and predicting their response to a supplier’s marketing stimuli.

a.	marketsegment
b.	prospectgroup
c.	businesspopulation
d.	marketopportunity

17.When a business marketer decides to target only those firms with centralized buying centers, whatmacrolevel segmentation variable is being used?

a.	Geographical location.
b.	Usage rate.
c.	Structure of procurement.
d.	End market served.

18.The ideal approach to sales forecasting for the business marketer relies on:

a.	strictlyquantitative approaches.
b.	strictlyqualitative approaches.
c.	ablend of the Delphi method and well-executed market surveys.
d.	acombination of qualitative and quantitative approaches.
e.	singleand multiple statistical series approaches.

19.The concept of market segmentation is more applicable to consumer-goods marketers than to business marketers. True or False

20.The information needed for micro level segmentation in the business market can usually be drawn from available secondary sources. True or False

21.An industrial firm’s first encounter with an overseas market usually involves _____ because it involves the least commitment and risk.

a.	Contracting
b.	Licensing
c.	Exporting
d.	Franchising
e.	aturnkey operation

22._____involves sourcing a product from a producer located in a foreign country for sale there or in other countries.

a.	Contract manufacturing
b.	Exporting
c.	Franchising
d.	A joint venture
e.	A turnkey operation

23.Multinational firms have traditionally managed operations outside their home country with an approach that permits individual subsidiaries to compete independently in different country-markets. Here each subsidiary resembles a strategic business unit that is expected to contribute earnings and growth to the organization. This describes:

a.	amultidomesticstrategy.
b.	adifferentiated strategy.
c.	aglobal strategy.
d.	anexport-based strategy.
e.	acoordinated strategy.

24.Concerning international strategy, a firm that concentrates manufacturing and support activities in one country but gives local marketing subsidiaries significant latitude in each region of the world is following which type of international strategy?

a.	acountry-centered strategy
b.	anexport-based strategy
c.	apurest global strategy
d.	asegmented international strategy
e.	acoordinated international strategy

25.Rather than modifying the firm’s product offerings from country to country, ____ strategy requires a patient, long-term campaign to enter every significant foreign market while maintaining and leveraging the company’s unique strategic position.

a.	aglobal
b.	anexporting
c.	ajoint venture
d.	alicensing

26._____refers to how similar activities performed in various countries are couple with each other.

a.	Coordination
b.	Configuration
c.	The home base
d.	The value network

27. When moving to a RDE, suppliers must adjust their operating models to:

a. Maintain quality levels

b. Counter local suppliers offerings

c. To fullycapture the cost advantages.

d. Consider the increased transportation costs involved

e. Consider market research data on procurement preferences

28.An industrial firm’s first encounter with an overseas market usually involves the formation of awholly-owned subsidiary in another country. True or False

29.Problems often plague joint ventures and, as a result, many of them fall short of expectations or are disbanded. True or False

30.In high-risk foreign markets, firms can reduce their equity exposure by adopting low-commitment modes of entry such as licensing or contract manufacturing.

True or False

31.The channel strategy that doesnot utilize any manufacturers’ representatives, industrial distributors, or other kinds of middlemen is referred to as:

a.	indirectdistribution.
b.	selectivedistribution.
c.	directdistribution.
d.	exclusivedistribution.
e.	restrictivedistribution.

32.The most appropriate channel of distribution for an industrial product is:

a.	direct.
b.	indirect.
c.	onethat relies on the firm’s sales force.
d.	acombination of direct and indirect.
e.	dependentupon a host of product, company, market, and competitive conditions.

33.A distributor classification, the combination house:

a.	operatesin two sectors of the industrial market.
b.	operatesa chain of distributorships.
c.	operatesin both the industrial and consumer markets.
d.	doesnot take title to the goods handled.
e.	ispaid on a commission basis.

34.Industrial products that are complex, unique and made to order are more frequently sold through:

a.	directchannels.
b.	indirectchannels.
c.	manufacturers’representatives.
d.	industrialdistributors.
e.	merchantwholesalers.

35.A direct sales force is best used for:

a.	highlystandardized solutions.
b.	smallcustomers.
c.	simpletransactions.
d.	complexproducts.

36.The primary reason for using more than one type of intermediary for the same product is:

a.	thegross margin is not large.
b.	theproduct tends toward technical complexity.
c.	differentmarket segments require different channel structures.
d.	theproduct is not standard, but is closer to made-to-order.

37.Techniques for motivating individual channel members include all of the following except:

a.	dealeradvisory councils.
b.	competitivecompensation.
c.	buildingtrust.
d.	betterplanning by the business marketer.
e.	producttraining for channel members.

38._____are generally small, independent businesses serving narrow geographic markets.

a.	Distributors
b.	Channel partners
c.	Manufacturers’ representatives
d.	Broker houses
e.	Field offices

39._____is the dynamic process of developing new channels where none existed and modifying existing channels.

a.	Channel structure
b.	Channel design
c.	Channel choice
d.	Channel partnering
e.	Supply chain management

40.When motivating channel members, the primary motivating device tends to be:

a.	dealeradvisory councils.
b.	trust.
c.	compensation.
d.	strongrelationships.
e.	training.