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Marketing Final Exam

Cbe model customer obj 07 4 top aacsb msc blooms

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Unformatted text preview: e, county, and city governments, are all examples of such organizations. INSTITUTIONS are nonprofit organizations that have different primary goals from ordinary businesses. This category includes schools, hospitals, colleges and universities, churches, labor unions, fraternal organizations, civic clubs, foundations, and other so-called nonbusiness organizations. PTS: 1 REF: 108-109 Communication KEY: CB&E Model Customer OBJ: 07-4 TOP: AACSB MSC: BLOOMS Synthesis 7. Describe the reseller market. Why do businesses use the services of business product distributors? ANS: The reseller market includes retail and wholesale businesses that buy finished goods and resell them for a profit. Retailers sell to final consumers, and wholesalers sell to retailers and other organizational customers. Business product distributors are wholesalers that buy business products and resell them to business customers. These distributors often carry much stock and have sales forces that call on business customers. Businesses that wish to purchase items typically buy from local distributors rather than from large manufacturers. PTS: 1 REF: 108 OBJ: 07-4 Communication KEY: CB&E Model Customer | CB&E Model Distribution TOP: AACSB MSC: BLOOMS Synthesis 8. Discuss how institutional customers differ from other types of business customers such as producers or resellers. Give two points of differentiation. ANS: Institutions seek to achieve goals that differ from ordinary producer or reseller business goals such as profit, market share, and return on investment. The institutional market also is characterized by great diversity. Institutional organizations include schools, hospitals, colleges and universities, churches, labor unions, civic clubs, foundations, and so on. PTS: 1 REF: 109 Communication KEY: CB&E Model Customer OBJ: 07-4 TOP: AACSB MSC: BLOOMS Synthesis 9. A Brazilian manufacturer of solar cells used as a renewable source of energy in all types of structures would like to begin distribution and sales in the United States, Canada, and Mexico. The manufacturer has hired you to investigate NAICS data for such products in North America. What is the NAICS system? What are some of the benefits of using this system? ANS: The North American Industry Classification System (NAICS) is a detailed numbering system developed by the United States, Canada, and Mexico to classify North American business establishments by their main production processes. NAICS is a valuable tool for business marketers engaged in analyzing, segmenting, and targeting markets, as goods- or service-producing firms using identical or similar production processes are grouped together. The number, size, and geographic dispersion of firms can also be identified through the use of NAICS codes. This information can then be converted to market potential estimates, market share estimates, and sales forecasts. PTS: 1 REF: 110 Communication KEY: CB&E Model Research OBJ: 07-5 TOP: AACSB MSC: BLOOMS...
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