In business markets, what do companies’ engineering staff mainly influence?
Correct answer C. Product components
Topic / 69 questions
Analyzing Business Markets MCQs
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- Developing Marketing Strategies and Plans 137
- Analyzing Consumer Markets 124
- Creating Brand Equity 98
- Products, Services and Brands 95
- Consumer Markets and Buyer Behavior 93
- New Product Development 89
- Customer Driven Marketing Strategy 86
- Product Strategy Setting 80
- Analyzing Business Markets 69
- Conducting Marketing Research 69
- Collecting Information and Forecasting Demand 65
- Integrated Marketing Channels 55
- Identifying Market Segments and Targets 47
- Pricing Capturing Customer Value 43
- Company and Marketing Strategy 40
- Introduction to Marketing 40
- Pricing Strategy 40
- Personal Selling and Sales Promotion 37
- Analyzing Marketing Environment 34
- Marketing Communications Customer Value 31
- Designing and Managing Services 29
- Marketing Channels 28
- Retailing and Wholesaling Strategy 28
- Creating Long-term Loyalty Relationships 27
- Global Marketplace 25
- Competitive Dynamics 25
- Business Markets and Buyer Behavior 24
- Managing Marketing Information Customer Insights 23
- Direct and Online Marketing 22
- Sustainable Marketing Social Responsibility and Ethics 20
- Competitive Advantage 17
In a buying centre, who has formal authority to select suppliers and arrange purchase terms?
Correct answer A. Buyers
Which buying situations are found in business markets?
Correct answer D. All of the above
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What is a contract in which a single supplier provides the buyer with all its requirements of a product called?
Correct answer A. Systems contracting
Over time, what do new-buy situations become?
Correct answer A. Straight rebuy
What is demand that is hardly affected by price changes called?
Correct answer D. Inelastic demand
Which stages does the new-task buying process pass through?
Correct answer D. All of the above
Into which buying centre role do a company’s technical staff usually fall?
Correct answer B. Influencers
In a buying centre, who decides on product requirements and suppliers?
Correct answer D. Deciders
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What are markets in which participants directly exchange goods or services with each other called?
Correct answer D. Barter markets
What is the process by which organisations identify, evaluate and choose among available brands and suppliers called?
Correct answer D. Organizational buying
In a buying centre, who are the people who request that something be purchased?
Correct answer D. Initiators
What is the buying situation in which a buyer purchases a product or service for the first time called?
Correct answer D. New task
What is a form of shirking or undersupply relative to an explicit or implicit contract called?
Correct answer B. Opportunism
In a buying centre, who helps shape product specifications and plays the main role in negotiations?
Correct answer B. Buyers
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Electronic hubs serving functions such as media buying, energy management and advertising are called what?
Correct answer A. Functional hubs
What is allowing flexibility for unforeseen events in a buyer-seller relationship called?
Correct answer D. Adaptation
Recognising extrinsic and interpersonal influences on business buyers places emphasis on strengthening what?
Correct answer B. Corporate brand
Purchases made by schools, nursing homes, prisons and similar bodies belong to which market?
Correct answer A. Institutional markets
In a modified rebuy, what are suppliers trying to protect their account called?
Correct answer C. In-suppliers