Chapter 1

Question 1

Business Markets

Answer 1

markets for products and services, local to international, bought by businesses, government bodies, and institutions for incorporation, for consumption, for use, or for resale

Question 2

Commercial Enterprisess

Answer 2

include manufacturers, construction companies, service firms, transportation companies, selected professional groups, and resellers

Question 3

Market-Sensing Capability

Answer 3

concerns how well the organization is equipped to continuously sense changes in its market and anticipate customer responses to marketing programs

Question 4

Customer-Linking Capability

Answer 4

comprises the particular skills, abilities, and processes an organization has developed to create and mange close customer relationships

Question 5

Customer Relationship Management Capabilities

Answer 5

include all the skills required to identify, initiate, develop, and maintain profitable customer relationships

Question 6

Customer Value Proposition

Answer 6

captures the particular set of benefits that a supplier offers to advance the performance of the customer organization

Question 7

Key Buying Influentials

Answer 7

those who have power in the buying process

Question 8

Relationship Marketing

Answer 8

centers on all marketing activities directed toward establishing, developing, and maintaining successful exchanges with customers

Question 9

Supply Chain Management

Answer 9

a technique for linking a manufacturer’s operations with those of all its strategic suppliers and its key intermediaries and customers to enhance efficiency and effectiveness

Question 10

Raw Materials

Answer 10

include both farm products and natural products, processed only to the level required for economical handling and transport

Question 11

Manufactured Materials and Parts

Answer 11

undergo more initial processing than raw materials