Marketing Final Exam

Cbe model customer obj 07 8 top aacsb reflective msc

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Unformatted text preview: on 147. Refer to Rock-Tenn. A sales representative from a paper-producing company wants to do business with Rock-Tenn. The representative needs to locate the person who actually negotiates the purchase, in other words, the _____ in the buying center. a. influencer b. gatekeeper c. decider d. purchaser e. user ANS: D The purchaser is the person who negotiates the purchase. PTS: 1 REF: 116 Thinking KEY: CB&E Model Customer OBJ: 07-8 TOP: AACSB Reflective MSC: BLOOMS Application 148. Refer to Rock-Tenn. A sales representative from a paper-producing company calls on Rock-Tenn routinely every month to review the company’s ordering needs. The monthly sale of paper to Rock-Tenn would constitute a: a. new buy b. modified rebuy c. straight rebuy d. modified new buy e. straight new buy ANS: C As this is a regular purchase, it would be an example of a straight rebuy. PTS: 1 REF: 117 Thinking KEY: CB&E Model Customer OBJ: 07-8 TOP: AACSB Reflective MSC: BLOOMS Application ESSAY 1. What is business marketing, and what distinguishes business products from consumer products? ANS: Business marketing is the marketing of goods and services to individuals and organizations for purposes other than personal consumption. Business products include those that are used to manufacture other products, become part of another product, or aid the normal operations of an organization. The key characteristic distinguishing business products from consumer products is intended use, not physical characteristics. A product that is purchased for personal or family consumption or as a gift is a consumer good. If that same product is bought for use in a business, it is a business product. PTS: 1 REF: 103 Communication KEY: CB&E Model Strategy OBJ: 07-1 TOP: AACSB MSC: BLOOMS Synthesis 2. The use of the Internet to facilitate activities between organizations has evolved and grown rapidly throughout its short history. Define B2B e-commerce, and discuss the evolution of ebusiness initiatives. ANS: B2B e-commerce is business-to-business e-commerce, which is the use of the Internet to facilitate the exchange of goods, services, and information between organizations. Past initiatives included revenue generation, aggressive disintermediation initiatives, and basic marketing communication strategies. Present initiatives, however, include reduction of costs, building of channel partnerships and trust, customer-focused technology and systems, brand building and development, and integration of online and traditional media. PTS: 1 REF: 104-105 Communication KEY: CB&E Model Strategy OBJ: 07-2 TOP: AACSB MSC: BLOOMS Synthesis 3. Discuss how businesses measure online success. ANS: Three of the most important measures of online success are recency, frequency, and monetary value. Recency relates to the fact that customers who have made a purchase recently are more likely to purchase again in the near future than customers who haven’t purchased for a while. Frequency data help marketers...
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