Business marketing

Question 0

The use of the Internet to facilitate h exchange of goods, services, and information between organizations

Answer 0

Business-to-business electronic commerce

Question 1

The marketing of goods and services to individuals and organizations for purposes other than personal consumption

Answer 1

Business marketing

Question 2

Three of the most important measures of online success

Answer 2

Recency
Frequency
Monetary value

Question 3

A measure of a web sites effectiveness; calculated by multiplying frequency of visits by the duration of a visit by the number of pages viewed during each visit

Answer 3

Stickiness

Question 4

The elimination of intermediaries such as wholesalers or distributors from a marketing channel

Answer 4

Disintermediation

Question 5

The reintroduction of an intermediary between producers and users

Answer 5

Reintermediation

Question 6

A cooperative agreement between business firms

Answer 6

Strategic alliance (strategic partnership)

Question 7

A strategy that entails seeking and establishing ongoing partnerships with customers

Answer 7

Relationship marketing

Question 8

A firms belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely

Answer 8

Relationship commitment

Question 9

a network of interlocking corporate affiliates

Answer 9

Keiretsu

Question 10

Individuals and organizations that buy business goods and incorporate them into the products they product for eventual sale to other producers or to consumers

Answer 10

Original equipment manufacturers (OEMs)

Question 11

The business market consists of what four major categories of customers

Answer 11

Producers
Resellers
Governments
Institutions

Question 12

An industry classification system introduced in 1997 to replace the standard industrial classification system. It is a detailed numbering system developed by the United States, Canada, and Mexico to classify North America business establishments by their main production processes

Answer 12

North American Industry Classification System (NAICS)

Question 13

Unlike consumer demand, business demand is (4)

Answer 13

Derived, in elastic, joint, and fluctuating

Question 14

The demand for business products

Answer 14

Derived demand

Question 15

An increase or decrease in the price of the product will not significantly affect demand for the product

Answer 15

Inelastic demand

Question 16

The demand for two or more items used together in a final product

Answer 16

Joint demand

Question 17

Phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product

Answer 17

Multiplier effect
Or
Accelerator principle

Question 18

An electronic trading floor that provided companies with integrated links to their customers and suppliers

Answer 18

Business to business online exchange

Question 19

A practice where business purchasers choose to buy from their own customers

Answer 19

Reciprocity

Question 21

Business products generally fall into one of the following seven categories, depending on their use

Answer 21

Major equipment
Accessory equipment
Raw materials
Component parts
Processed materials
Supplies
Business services

Question 22

capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings

Answer 22

major equipment (installations)

Question 23

goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment

Answer 23

accessory equipment

Question 24

unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish

Answer 24

raw materials

Question 25

either finished items ready for assembly or products that need very little processing before becoming part of some other product

Answer 25

component parts

Question 26

products used directly in manufacturing other products

Answer 26

processed materials

Question 27

consumable items that do not become part of the final product

Answer 27

supplies

Question 28

expense items that do not become part of a final product

Answer 28

business services

Question 29

all those people in an organization who become involved in the purchase decision

Answer 29

buying center

Question 30

business buyers evaluate products and suppliers against what three important criteria

Answer 30

quality, service, and price

in that order

Question 31

a situation requiring the purchase of a product for the first time

Answer 31

new buy

Question 32

a situation in which the purchaser wants some change in the original good or service

Answer 32

modified rebuy

Question 33

a situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers

Answer 33

straight rebuy