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MKT 301-Business-to-business marketing refers to buying

1. Business-to-business marketing refers to buying and selling goods or services by three of the following.Which of the following does notbuy and sell goods in business-to-business marketing?A. RetailersB. ManufacturersC. WholesalersD. Consumers2. Originally, offshoring focused on relocating _______ to lower-cost producer countries.A. manufacturingB. countertradeC. servicesD. franchising3. Jennifer’s spending decisions are heavily influenced by her family, her peers, and the beliefs and valuesshe was exposed to in her religious education. Jennifer’s spending decisions are heavily influenced by herA. physiological needs.B. assessment of psychological risk.C. external social environment.D. cognitive needs.4. Rick knows his company’s electronic components sales depend on sales of new cars. Rick’s companyfaces _______ demand.A. autocraticB. syntheticC. situationalD. derived5. GDPis defined asA. greater domestic product.B. the value of a country’s annual exports minus its imports.C. national annual income minus national annual taxes.D. the market value of goods and services produced in a country in a year.6. Which of the following is a B2B buying situation in which the decision is likely to be the mostcomplexand take the longestto complete?A. A new buyB. An internally-structured rebuyC. A straight rebuyD. A modified rebuy7. Abraham Maslow identified five sets of motives that have become an essential part of marketing.Maslow’s Hierarchy of Needs includes physiological needs at the lowest level and self-actualization at thetop. The three levels in between areA. safety, love, and esteem.B. threat avoidance, stability, and striving.C. community, family, and self.D. material goods, safety, and love.8. Manufacturers would prefer to produce in a country with a trade _______, because it signals a greateropportunity to export products to more markets.A. deficit.B. balance.C. surplus.D. culture.9. When considering _______, a firm should consider how economic development affects the attributes ofa product, how it might standardize the product, and the needs of the target market.A. the establishment of a joint ventureB. cultural adaptationC. its international marketing return on investment (IMROI)D. global product strategies10. After need recognition, a business often considers alternatives and comes up with _______ thatsuppliers might use to develop their proposals to supply the product.A. democratic idealsB. product specificationsC. derived demandD. initiator instructions11. The consumer buying process begins whenA. performance risk is minimized.B. consumers enter a store.C. functional needs are greater than psychological needs.D. consumers recognize that they have an unsatisfied need.12. In the consumer decision process, deciding how long and how much effort to expend searching forinformation depends onA. habitual decision making that most influences the alternative evaluation process.B. the postpurchase anxiety associated with the product or service being considered.C. the degree of perceived risk associated with the product or service being considered.D. the cultural reference group that most influences the alternative evaluation process.13. The processes by which goods, services, capital, people, information, and ideas flow across nationalborders is known asA. standardization.B. advertising.C. marketing.D. globalization.14. When entering a foreign market, the leastrisky strategy isA. exporting.B. joint venture.C. direct investment.D. franchising.15. When Brandon decided he needed a new car, he immediately called his old college roommate, whoowns a BMW dealership, to ask questions about options and financing. Brandon was searching forinformation from a(n)A. external source.B. internal source.C. decision heuristics establishment.D. internal locus of control.16. Unlike a firm’s mission statement or employee handbook, a firm’s culture oftenA. forces customers to look elsewhere for value.B. is defined by a straight rebuy philosophy.C. comprises a set of unspoken guidelines.D. is captured in NAICS classification.17. The Big Mac Index is a novel measure ofA. per capita GNI.B. purchasing power parity.C. GDP.D. economic appetite.18. Changes in _______ have been the driving force for growth in global markets for decades.A. technologyB. human developmentC. trading blocsD. taxation19. In mostcases, countries use tariffs to reduce foreign competition, but tariffs are also usedA. to shorten supply chains.B. to stimulate consumer demand.C. as a response to perceived unfair trade practices.D. to offer domestic discounts.20. Consumers frequently use the Internet during the _______ stage of the consumer decision process.A. information searchB. postpurchase evaluationC. situational factor analysisD. need recognition21. For marketers, negative attitudes are typically difficult to change becauseA. consumers weigh performance risk against functional needs when assessing their attitudes.B. attitudes shift consumers from limited to extended problem-solving situations.C. most consumers’ attitudes depend on prices.D. attitudes are learned and long lasting.22. A _______ sets a limit on the amount of an imported item that can enter a country in a time period.A. boycottB. tariffC. dutyD. quota23. Melissa is the director of human resources, but she’s known throughout the firm as being one of thefirst to hear about and use new kinds of communications technologies. When the firm wants to upgrade itscommunications with vendors through a private exchange, Melissa will probably function in what role in thefirm’s buying center?A. DeciderB. InfluencerC. UserD. Initiator24. Of the five strategies for entering new markets, direct investment creates theA. greatest potential risk.B. least investment cost.C. most franchisee control.D. opportunity for strong strategic alliances.25. In general, the _______ the wealth of people in a country, the better the opportunity a firm has in thatparticular country.End of examA. more diverseB. greaterC. more equalD. less stable

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