Question 1

Hensley Poultry is a wholesaler that buys poultry food and health products from Provini,Inc.,feeding systems from Big Dutchman,Inc.and incubation systems from Copca Corp.Hensley then sells those products to poultry producers and farmers' cooperatives in Iowa.Hensley Poultry could be best classified as a(n):

Accepted Answer

The reseller market includes retail and wholesale businesses that buy finished goods and resell them for a profit.

Question 2

Which of the following is the BEST example of an institution market?

Accepted Answer

Examples of institutions include schools,churches,and hospitals that have service or activity goals,but not profit goals.

Question 3

Caterpillar,the manufacturer of earthmoving equipment,uses completed drivetrains (engines-transmissions-axles),drivetrain components,electronic controls,hydraulic and electrohydraulic components and systems,cooling systems,and undercarriage track systems produced by other organizations in its manufacturing process.Caterpillar is an example of a(n):

Accepted Answer

An original equipment manufacturer (OEM)is an organization that buys business goods and incorporates them into the products it produces and sells.

Question 4

The U.S.government is:

Accepted Answer

The U.S.federal government is the world's largest customer.The other alternatives are false because various branches of the government have separate purchasing departments,and billions of dollars are spent on food,clothing,desks,and other standard supply items (not just military hardware).

Question 5

DHL maintains a strategic alliance with UPS because it has confidence in UPS's reliability and integrity. This condition is referred to as:

Accepted Answer

Trust is the condition that exists when one partner has confidence in an exchange partner's reliability and integrity.

Question 6

Imagine you are the research director of a major industrial marketing firm.You need to select an NAICS code that defines the most homogeneous group of companies in a particular group of highly competitive companies .Which of the following codes might you use?

Accepted Answer

The more digits in a code,the more homogeneous the group will be.The alternatives presented in this question are to illustrate the point that more digits results in a more homogeneous grouping.They may or may not be actual NAICS codes.

Question 7

A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit.They achieve this goal by using purchased goods and services to make other goods,to become part of other goods,or to facilitate the daily operations of the organization.This group is called the _____ segment of the business market.

Accepted Answer

This describes the producer segment of business customers.

Question 8

One segment of the business market has primary goals that differ from the ordinary business goals such as profit,market share,or return on investment.This segment includes many schools,churches,and civic clubs and is often called the _____ market.

Accepted Answer

Institutions such as schools,churches,and hospitals have service or activity goals,but not profit goals,yet are an important business market.

Question 9

The government uses a system called NAICS to classify North American business establishments.NAICS stands for:

Accepted Answer

The North American Industry Classification System (NAICS)is an industry classification system for classifying North American business establishments.

Question 10

Ed Rodney works for the state of Minnesota as a advocate of state growth and development.He devises ways to encourage businesses to relocate to the state.In other words,Rodney is involved in business marketing.He is compiling a list of potential businesses that might be willing to move their operations to Minnesota.Which of the following possible clients should he include in his list?

Accepted Answer

The other "clients" are end-user consumers,not business customers.

Question 11

Southern Fireworks Manufacture Company in Liuyang,China provides fireworks for companies in America such as Premier Pyrotechnics in Richland,Missouri.This means that Southern is a (n):

Accepted Answer

An original equipment manufacturer (OEM)is an organization that buys business goods and incorporates them into the products it produces and sells.

Question 12

NAICS data are helpful for analyzing,segmenting,and targeting markets.The system was developed by:

Accepted Answer

NAICS is an industry classification system that replaced the standard industrial classification (SIC)system in 1997 for the North American Free Trade Agreement partners.The partners include the United States,Canada,and Mexico.

Question 13

Businesses that buy finished goods and sell and distribute them for a profit are called:

Accepted Answer

The reseller market includes retail and wholesale businesses that buy finished goods and resell them for a profit.

Question 14

According to the text,another commonly used name for producers is:

Accepted Answer

Original equipment manufacturers (OEMs)include all individuals and businesses that buy business goods and incorporate them into the products that they produce for eventual sale to other producers or to consumers.

Question 15

Corn refiners buy shelled corn and convert it into a variety of products,including high fructose corn syrup.The refiners then sell the syrup to soda and food product companies for use in foods and beverages.The corn refiners represent the _____ sector of the business market.

Accepted Answer

Producers use purchased goods and services to produce other products,to incorporate into other products,or to facilitate the daily operations of the organization.

Question 16

Organon Teknina sells inexpensive equipment to detect E.coli,listeria,or salmonella bacteria in food.The company serves not-for-profit institutions that need to regularly check food quality.Organon Teknina would be LEAST likely to sell to:

Accepted Answer

The only example of a for-profit organization in the list is the restaurants,and they would not be a customer of an institutional-only food supplier.To answer this question,students will have to remember that institutions are not operated for profit.

Question 17

In Japan,reciprocity and personal relationships contribute to the development of:

Accepted Answer

Amae is the feeling of nurturing concern for,and dependence on,another,and reciprocity and personal relationships contribute to amae. Keiretsu is a network of interlocking corporate affiliates.

Question 18

What would a U.S.company that manufactures the lighted signs used in amusement parks,at outdoor sports arenas,for restaurant promotion,and by state departments of transportation on the sides of roads use to facilitate its market segmentation and targeting if it wanted data that were readily available and usable?

Accepted Answer

NAICS codes enhance companies' marketing efforts.

Question 19

A keiretsu is a(n):

Accepted Answer

A keiretsu is a network of interlocking corporate affiliates in Japan.

Question 20

In the past 24 years,Mothers Work has grown from a small,mail-order catalog business headquartered inside the founder's home,to the world's largest seller of maternity apparel,with nearly 1,600 locations.In terms of the business market,Mothers Work would be best classified as a(n):

Accepted Answer

Mothers Work purchases finished goods and resells them; it does not produce the goods or change their form.

Quiz 7: Business Marketing