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Marketing Final Exam

E a straight rebuy is a simple repurchase of items no

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Unformatted text preview: B&E Model Customer OBJ: 07-8 TOP: AACSB Reflective MSC: BLOOMS Application 109. A professor sent the following memo to his department chair for his authorization: Glen:I need to purchase a camera, Mac computer, and microphone for the selling center lab #2 just like we did for lab #1. This buying situation should be described as a: a. make-or-buy b. value buy c. new buy d. modified rebuy e. straight rebuy ANS: E A straight rebuy is a simple repurchase of items (no changes) without seeking a new supplier. PTS: 1 REF: 117 OBJ: 07-8 TOP: AACSB Reflective Thinking KEY: CB&E Model Customer MSC: BLOOMS Application 110. Purchasing contracts are commonly used in which type of buying situations? a. Reciprocal b. Straight rebuy c. New buy d. Extended rebuy e. Modified rebuy ANS: B Purchasing contracts are common instruments used in straight rebuy situations and are used with products that are bought often and in high volume. PTS: 1 REF: 117 Thinking KEY: CB&E Model Customer OBJ: 07-8 TOP: AACSB Reflective MSC: BLOOMS Comprehension 111. Texas Instruments (TI) has developed a detailed Values and Ethics Statement and Code of Business Conduct. Why did they choose to create these? a. They makes TI look good. b. TI’s suppliers will only buy from them if they have these statements. c. U.S. law requires a code of ethics. d. Consumers demand ethical practices. e. A code of ethics helps guide buyers and sellers and overall helps the company to follow ethical practices. ANS: E Ethics can be viewed as the standard of behavior by which a company’s conduct is judged. Having a code of ethics can help guide a company. PTS: 1 REF: 117 Thinking KEY: CB&E Model Strategy OBJ: 07-8 TOP: AACSB Reflective MSC: BLOOMS Application 112. Which of the following is becoming increasingly more important in business marketing strategies? a. Customer service b. Price collusion c. Ethnocentrism d. The divider effect e. Competitive advertising ANS: A Business marketers are increasingly recognizing the benefits of developing a formal system to monitor customer opinions and perceptions of the quality of customer service. PTS: 1 REF: 118 OBJ: 07-8 TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy MSC: BLOOMS Comprehension Etruscan Railing Company Etruscan Railing Company makes railing that is used in sports arenas, nursing home corridors, queue houses at amusement parks, and many other places that are not as obvious. Its railing is molded into bicycle racks. You may also see city governments using the railing to make walkways over ravines and creek banks safer for pedestrian traffic. Hospitals also use the railing in their physical therapy departments, to keep the lines straight in the hospital cafeteria, and to prevent patients from falling out of hospital beds. 113. Refer to Etruscan Railing Company. Etruscan Railing sells: a. consumer products b. business products c. supplies d. consumer and business products e. major equipment ANS: B Business products include those that are used to manufacture other p...
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