Chapter 07 - Chapter 7Business Marketing TRUE/FALSE 1....

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Chapter 7—Business Marketing TRUE/FALSE 1. Shimano sells the fishing and golfing equipment it manufactures to sporting goods stores, which in turn sell the equipment to anglers and golfers. Shimano is engaged in business marketing. ANS: T Business marketing is the marketing of goods and services to individuals and organizations for pur- poses other than personal consumption. Shimano sells to a reseller that is not purchasing for its per- sonal consumption. PTS: 1 REF: 99 OBJ: 07-1 TYPE: App TOP: 2. For a product to be called a business product, it must be used to manufacture other products, become part of another product, or facilitate the normal operations of a firm. ANS: T PTS: 1 REF: 99 OBJ: 07-1 TYPE: Def TOP: 3. The Internet has eliminated the need for distributors. ANS: F This has not occurred although many experts thought it would. Relationships with knowledgeable dis- tributors have remained important. PTS: 1 REF: 102 OBJ: 07-2 TYPE: Comp TOP: 4. A keiretsu is an example of how companies can develop into a network of interlocking corporate affili- ates. ANS: T PTS: 1 REF: 101 OBJ: 07-3 TYPE: Def TOP: 5. Any firm that purchases goods and services to make a profit by using them to produce other goods is part of the producer segment of the business market. ANS: T PTS: 1 REF: 104 OBJ: 07-4 TYPE: Def TOP: 6. OEM stands for operationally efficient marketing. ANS: F OEM stands for original equipment manufacturer. PTS: 1 REF: 104 OBJ: 07-4 TYPE: Comp TOP: 7. The reseller market is the same as the retailer market.
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ANS: F The reseller market includes both retailers and wholesalers. PTS: 1 REF: 104 OBJ: 07-4 TYPE: Comp TOP: 8. The government sector (federal, state and local) is a minor segment of the business market ANS: F The government is a major segment of the business market. PTS: 1 REF: 104-105 OBJ: 07-4 TYPE: Comp TOP: 9. The single largest customer in the world is the U.S. federal government. ANS: T PTS: 1 REF: 105 OBJ: 07-4 TYPE: Def TOP: 10. NAICS is an industry classification system used by most nations of the world. ANS: F As its name indicates, NAICS (North American Industry Classification System) has been adopted only by Mexico, Canada, and the United States. PTS: 1 REF: 106 OBJ: 07-5 TYPE: Def TOP: 11. The first two digits of a NAICS code designate an industry group, such as fiber, yarn, and thread mills.
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This note was uploaded on 01/18/2011 for the course FIN 3604 taught by Professor Patterson during the Spring '10 term at University of South Florida - Tampa.

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Chapter 07 - Chapter 7Business Marketing TRUE/FALSE 1....

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