MARKETING MBA-565 QUIZ 3 (SOLUTION 20/20) - 77844

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• 1.In ________ marketing, the firm operates in several market segments and designs different products for each segment. (Points : 5) segmented undifferentiated differentiated geodemographic niche 2. In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and ________. (Points : 5) company's objectives and resources the product to be sold the purchasing process competition's strategies the global nature of the product 3. In principle, business buyers seek to ________ in relation a market offering's costs. (Points : 5) spread risks obtain the highest benefit package maintain everyday low prices outsource as much as is possible eliminate partners' shares in profits as much as possible 4.________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions. (Points : 5) The buying center The marketing sales team Strategic management Engineering support The logistics center 5. All of the following are methods of assessing customer value EXCEPT ________. (Points : 5) direct survey questions exit interviewing focus-group value assessment conjoint analysis benchmarks 6.Webster cautions that ultimately, ________ make purchasing decisions. (Points : 5) only senior managers individuals, not organizations, organizations, not individuals, third parties systems contractors 7. Johnson & Johnson broadened its target market for its baby shampoo to include adults through ________. (Points : 5) Counter segmentation metamarketing undifferentiated marketing product specialization single-segment concentration 8. If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment. (Points : 5) user status usage rate buyer-readiness stage occasion benefit 9. When buyers cannot easily monitor supplier performance, the supplier might shirk or cheat and not deliver the expected value. ________ is "some form of cheating or undersupply relative to an implicit or explicit contract." (Points : 5) Institutional sale Opportunism Business buying Vertical integration Contractual transactionism 10. Many business buyers prefer to buy a total solution to a problem from one seller. ________ is the correct term for this process. (Points : 5) Channel consolidation Systems buying Vertical buying Horizontal buying Supply buying 11. The total demand for many business goods and services is ________ —that is, not much affected by price changes. (Points : 5) derived fluctuating accelerated multiple inelastic 12. Business markets differ significantly consumer markets in that business markets possess all of the following characteristics EXCEPT ________. (Points : 5) fewer, larger buyers close supplier-customer relationship professional purchasing inverted demand multiple sales calls 13. In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms. (Points : 5) written proposals oral proposals e-proposals alliance proposals global proposals 14. A company can be said to have used ________ if the company distinguished among customers buying on the basis of price, service, and quality. (Points : 5)3 macrosegmentation microsegmentation strategic segmentation global segmentation short-term segmentation 15. ________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g., dams, pipelines, et cetera). (Points : 5) Systems contracting Systems buying Systems selling Solutions buying Turnkey logistics 16. According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program. (Points : 5) measurable substantial accessible differentiable actionable 17. A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task? (Points : 5) Demographic variables Purchasing approaches Situational factors Personal characteristics Operating variables 18.The purchasing department buys office supplies on a routine basis. This type of purchase is classified as a ________. (Points : 5) straight rebuy modified rebuy new task secondary purchase preordained purchase 19.If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern. (Points : 5) homogeneous heterogeneous diffused clustered scattered 20. Marketers usually identify niches by ________. (Points : 5) dividing a segment into subsegments conducting VALS tests allowing consumers to gravitate toward product brands examining the demographics section of The Handbook of Marketing producing products that can be used in a variety of ways
Solution Description

·          

1.In ________ marketing, the firm operates in several market segments and designs different products for each segment. (Points : 5)

segmented
undifferentiated
differentiated
geodemographic
niche

2. In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and ________. (Points : 5)

company's objectives and resources
the product to be sold
the purchasing process
competition's strategies
the global nature of the product

3. In principle, business buyers seek to ________ in relation a market offering's costs. (Points : 5)

spread risks
obtain the highest benefit package
maintain everyday low prices
outsource as much as is possible

eliminate partners' shares in profits as much as possible
4.________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions. (Points : 5)

The buying center

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