Answer. I. B) buyers and sellers are brought together for a commission.C) brokers build a pool of price information through their extensive contacts. Which of the following is considered a "key player" in the marketing industry? Among major players in business markets include fisheries, agriculture, mining, transportation, construction, mining, communication, finance, distribution and insurance services. Strategic (management) planning is a managerial process of developing and maintaining a match between the resources of the production department and its product opportunities. b) All literate customers. Prior to the Industrial Revolution, selling was no problem and no sales team is required because. B2B markets differ from B2C markets in many ways. True B. (b) Improving the quality of life for consumers by selling them products and services. (b) They allocate funds available for investment into their most productive investment opportunity. Answer (d) All of the above 1. D) Strategic planning deals with adapting the firm to take advantage of opportunities in its changing environment. Include sections for your purpose, target market, and competition. d. There are more transactions in B2B markets and more high-dollar transactions because business products are often costly and complex. Our marketing mechanism is deemed successful only if -. Advertisement Remove all ads. Which of the following statements is true of business plans? There are also fewer buyers in B2B markets, but they spend much more than the typical consumer does and have more-rigid product standards. Loyal customers are less profitable than those who are price sensitive and perceive no . Marketing strategy planning is the process of deciding how best to sell the products the firm produces. Term. An economic buyer is a typical member of the DMU. C. Typically, the higher-performing firms in any industry tend to be those who do not have any business plan. a. False 3. One fact you should always remember about business markets is that it is a business to a business transaction where one company buys . a distributor. Business markets and consumer markets tend to be similar to some extent. Both economic and personal factors play a part in buying decisions. 2. View Answer. Laborers and workers work for these companies. Key Takeaway. Covenant Books is an international Christian owned and operated publishing house based in Murrells Inlet, South Carolina. If you are looking forward to becoming a marketing guru, there is no better way to assess your knowledge than quizzes. It is a process whereby people exchange goods and services for money. All of the above. The prisoner's dilemma basically provides a framework for understanding how to strike a balance between cooperation and competition and is a useful tool for strategic decision-making. Firms without a business plan are less likely to close down than firms with plans. Question 3 (10 points) Finance is the study of how individuals, institutions, and businesses acquire, spend and manage money and other financial resources. Marketing plays an essential role in creating customer satisfaction. It is a process whereby people exchange goods and services for money. False 2. Franchise A. (a) An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization. Hiring of competent staff C. Identifying a good Target market D. Feasibility analysis of an apparent opportunity ANSWER:D. Business buyers purchase goods to make or resell a product to others at a profit. Explain whether the observation appears to contradict the weak, semi-strong, or strong form of the efficient-market hypothesis. 2. B2B Markets Have A More Complex Decision-Making Unit. Do share the quiz with friends who are into marketing. The business-to-business (B2B) market includes people who buy products to: answer choices. Question 4 (10 points) Money markets are markets where equity securities and debt securities with maturities of greater than one year are traded. Which of the following observations, if true, indicate market inefficiency? Answer: F MULTIPLE CHOICE QUESTIONS 10. True. Google Digital Garage is an online program where you can learn about the fundamentals of digital marketing and also help to make your online businesses visible to more customers with fewer investments. Marketing plays an essential role in creating customer satisfaction. (c) They link the households which save funds and business firms which invest these funds. Which of the following statements about population is correct? a dealer. 11 Premium Courses By Google For FREE With Certificate; What Is Google Digital Garage Course? It emphasizes the use of ethically sourced material. Q #9: The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing: A. c) All computer literate customers. D. flexible credit terms. Family planning policies seek to limit population growth. According to the text, marketing means "selling" or "advertising." A. 16. Conclusion Google Digital Garage is an online program where you can learn about the fundamentals of digital marketing and also help to make your online businesses visible to more customers with fewer investments. an institutional buyer. 2) Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. Which of the following statements is TRUE? Indicate whether the following statement is true or false: The attractiveness of a nation for global sourcing relates to factors such as the political environment, physical infrastructures, and the. (1) Marketing was not a subject then. These entities can conduct business with each other as they see necessary, and consumers can buy and sell at their . Business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments and institutions). Actually, making goods or performing services is called marketing. B2B markets differ from B2C markets in many ways. When Tata Steel notices a drop in the demand for steel as a result of a decline in ultimate consumer demand for automobiles, this illustrates the concept of: derived demand. Vertical markets vs. horizontal markets. It aims to promote social responsibility. A. C. free delivery. buyers in consumer markets approach purchasing more informally, while buyers in business markets approach purchasing more formally . Covenant Books specializes in all genres of work which appeal to the Christian market. Strategic sourcing is about understanding the markets you're purchasing from inside and out and learning from your own organization and your suppliers' organizational processes, working as a mediator between suppliers and your organization, and capturing information and using it to improve relationships. Unformatted text preview: Finance I, Problem Set 6 Questions: Market Efficiency 1. Business Cycle: The business cycle is the fluctuation in economic activity that an economy experiences over a period of time. 1. II. It involves elements the business cannot control. a. Naturally, business thrives when the economy is growing, employment is full, and prices are stable. Make other products. Email marketing is a tried and true method of reaching both individual consumers and business customers. B. 3. . Implementation of strategies C. Analysis of the internal environment D. Strategic restructuring E. All of these are true Answer: E 11. (a) An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization. A business market is made up of groups of people who buy goods and services to use in producing other products, to resell, or for their own use in their day-to-day operations. b. False. Read Paper. Answer: b. a user. (d) All of the above. According to the text, marketing means "selling" or "advertising." 2. One way to segment a market is according to whether the purchaser is a consumer or a business-to-business user. Select one: a. Machine malfunction, firm introduces or modifies a product, etc. NRI is an easy target for effective marketing, because a) He likes Indian goods. There are more transactions in B2B markets and more high-dollar transactions because business products are often costly and complex. (3) People don't want to sell anything. 2. Answer: (b) 6. Which of the following types of business organizations reduces or limits the risk of its stockholders: A. The buyer is buying the product to achieve some sort of business advantage. Many people are investing in more resources and money in business markets. 2. answer choices it is dominant in its field the owner is usually the manager it serves a small market it operates in one or a few locations Question 15 30 seconds Q. A business that effectively coordinates channel management with marketing activities is more likely to provide A. good customer service. ANSWER:A. True B. To do marketing surveys Answer Question. Which of the following is true about the consumer-focused marketing mix? There are also fewer buyers in B2B markets, but they spend much more than the typical consumer does and have more-rigid product standards. The essence of customer value management . Each party has something that is of some value to the other party. View Answer. Even the company's Products navigation menu includes how the product can "Get Your Business Online" and "Market Your . Which of the following statements is true of business marketing? A holder takes an instrument for value if he or she inherits an instrument. True. Which of the following is not emphasized by Japanese business culture: a. self-denial b. harmony and consensus c. market share d. independence 33. The segment of the business market that seeks to achieve goals other than the standard business goals of profit, market share, and return on investment consists of: A. institutions B. resellers C . 6. Land, buildings, materials, resources, and money are owned by businesses and consumers. ii. A) I and III B) I and II C) II and III D) I, II, and III D ) I , II , and III 99. Business suppliers use social networ. 6.) True 11. Commitment to opportunity. an institutional buyer. The environmental influences of the level of primary demand, the economic outlook, and the cost of money all make their way into the decision. Businesses spend most of their advertising rupees on business-to-business markets. Use them in day-to-day operations. D. Administrative domain. Press Release Service by Newswire.com. 1.40Select the statement that describes what should be done prior to starting a successful business to remedy high failure rates of enterprises. Each party has to arrange its own logistics system. We believe that there are ten key factors that make business-to-business markets special and different to consumer markets. A designed change that increases the usefulness of a product, services, or process answer choices innovation invention improvement entrepreneur Question 16 30 seconds On the other hand, when the economy is slowing (or stalled) and unemployment is rising, people have less money to spend, and the marketer's job is harder. 30 seconds. False 4. The most formal and best definition of marketing is ___________. (a) True (b) False. Learn more with market research types and examples. In a business setting, major purchases typically require input from various parts of the organization, including finance, accounting, purchasing, information technology management, and senior management. B. Intrapreneurship. A. Question 3 options: True. It is estimated that marketing costs about 50 percent of each consumer's dollar. 30 seconds. Question. A company does not need a large size to facilitate, and benefit from, the globalization of markets. 1) Which of the following is true of strategic planning in a firm? Drawing up a business Plan B. 10 Reasons Why B2B Marketing is Special and Different to Consumer Markets. A business buying situation in which the buyer purchases a product or service for the first time. The demand for business products or services depends on the level of activity that the buying organization can create in its own markets. Brand element is also known as: a) Awareness b) Recall c) Identity d) Image 3. Tags: These are described below: 1. 1. It allows them to sell products or services to other companies or organizations that resell them, use them in their products or services or use them to support their works. Analyze your findings. In some countries, in-migration comprises a significant amount of population growth. b. 3-98 b p. 115 B Which of the following is not a correct statement of a change that will affect how companies do business in Europe's single market: a. harmonization of product standards (2) People was not a subject then. For additional information or media inquiries, contact Covenant Books at 843-507-8373. Not all business markets are the same - that's especially true of the modern business markets. D) All of the above are true of broker markets. When Tata Steel notices a drop in the demand for steel as a result of a decline in ultimate consumer demand for automobiles, this illustrates the concept of: derived demand. Use them in day-to-day operations. The following categories are B2B marketing channels bound to connect you to your target audience. Political structures often channel self-interest toward social destruction. Understanding value in business markets and doing business based on value delivered gives suppliers the means to get an equitable return for their efforts. A You need a website to show up in search results B You'll reach a similar client base to the one you have in the real world C You'll be seen by the same volume of customers whether you use search advertising or not D Social media is a great way to engage your audience The growth of powerful communications technologies and the emergence of world cultures create the condition for global markets. a dealer. Discuss the following marketing approaches for your airport . True False 19. A business cycle is basically defined in terms of periods of expansion . Resell them. Term Buying Center Definition The target group for marketing of Internet Banking is a) All customers. B2B Email Marketing. Business markets have fewer sellers and buyers in any market segment than do consumer markets. Power is at the heart of . c. Each party has the ability and desire to indulge in exchange. B. attractive product displays. Buyers have limited purchasing power. Which of the following is true of relationship marketing? It is a free program and also provides certificates at the end of the final exam. A. One of the most common mistakes people make, when it comes to commercial transactions is thinking that business markets (B2B) are the same as consumer markets (B2C). Q #10: The entrepreneur's_______________ depends on his perception of the opportunity. Marketing Quizzes & Trivia. View Answer. 1. a. The planning team comes up with a list of options . it includes goods such as portable drills, power tools, and microcomputers which of the following statements is true of accessory equipment? It includes many activities that are performed even before goods are actually produced and continue even after the goods have been sold. Marketing products is easier because consumers are willing to buy. For instance, in both cases, people are involved in the process of evaluating the necessity of goods and products and at the same time carry out different roles in ensuring that they attain satisfaction of such needs. Ans. b. Business suppliers use social networ. A. III. Definition. False. Options. d. John is considering operating a jet ski shop catering to travelers and tourists. It deals with products that are used to facilitate an organization's operations. As a . Finance questions and answers. Entrepreneurship. d. It includes selling stationaries to students. 1. 1 answer below . A) In a perfect capital market, a firm can increase its value by issuing debt (rather than equity) to finance a project, because the cost of debt (rp) is always smaller than the cost of equity (TE). Question. Which of the following is TRUE about Business-2-Business markets: a. there are more individual buyers than in B-to-C markets b. the demand is elastic c. the demand is stable d. B-to-B markets are more geographically concentrated ------------------------------------------------------------------------------------------------------------------ 2. External legitimacy for a firm is best established by creating business plans. Loyal customers are less profitable than those who are price sensitive and perceive no . Term. After you analyze the market, it's time to take a look at your findings. A. a. marketer suppliers or vendors distributors or retailers all of the above 18. Q. Example of the 5 P's of Marketing. It refers to the sale of goods and services for the purpose of personal consumption. Which of the following is true of relationship marketing? Lay out all of your research and organize it using different sections. a. Answer: TRUE: 75) Customer focused marketing advocate serving all customers' needs at all costs. The purchasing process is different in both cases and the following is a list of the stages involved in B2B buying: Step 1: Recognize the Problem. Answer: b. a user. False. All of the above. Explanation: For developing a web presence for a business you can so many things such as creating social media profiles, launching a good UX website but it requires a tight budget for it but the most effective and easiest thing that you can do that will be loved by your user is by creating a mobile app so that any customer can place an order for the products they need. (a) They work as an intermediary between the savers and the investors by mobilising funds between them. A. Identifying and understanding global customer needs means that the international marketer . 4. Marketing Mix is the most visible part of the marketing strategy of an organization. Actually, making goods or performing services is called marketing. A. Resell them. Term Systems selling (or solutions selling) Definition Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation. Horizontal markets are much broader than . Answer: (b) 6. c. It has long and indirect channels of distribution. This is quite an unfortunate mistake as the two, though similar in concept, are very different. 4. Which of the following is true of business markets? Q. Chapter 01 Globalization True / False Questions 1. A. Holistic B. Demand-based C. Direct D. Relationship E. Synthetic Answer Question. (b) Improving the quality of life for consumers by selling them products and services. Tags: In brokered markets:A) the commission charged by brokers is a lower cost to buyers and sellers than the cost of direct search. Each party has to arrange its own logistics system. D. B) In a perfect capital market, purely financial transactions always . It is a way to promote business and improve profit too. B. . C. Managerial domain. Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs b. marketing has the aim of building mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business. Market research methods allow organizations and individual researchers to discover their target market, collect and document opinions and make informed decisions. Establishment of strategic direction f Chapter 1: The Strategic Management Process B. All of the above. Competitive markets channel the self-interest of business leaders toward social prosperity. True False 2. Information from interviews or focus groups within your target market. False. A. 1 answer below . a distributor. The following are the differences between horizontal and vertical markets: Horizontal markets focus on a target demographic that can be found in various industries, whereas vertical markets focus on one specific consumer who is only found in the vertical market. connector demand. Each party has something that is of some value to the other party. The four different . Customers in consumer markets initiate a direct demand with their purchases. Definition. Our marketing mechanism is deemed successful only if -. 3. Which of the following statements is true? True False 3. It is a free program and also provides certificates at the end of the final exam. Make other products. c. Each party has the ability and desire to indulge in exchange. True: Of the following, which is one of the central principles recommended in this chapter for firm organizing itself for international business: Organize value-adding activities along lines of comparative advantage (5) None of these. Each organization has its own objectives, policies, procedures, structure, and systems to learn. Market research is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with consumers. 1. connector demand. 17. The modern economy is essentially made up of three distinct sectors: primary, secondary, and tertiary. (4) Small-scale enterprises dominated the economic scene. c. Buyers are usually not skilled at comparing competitive product offerings. Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs b. In the "developed" world only, rapid urbanization is reshaping population . Today, most international migrants are refugees. The business-to-business (B2B) market includes people who buy products to: answer choices. True B. We have a collection of 200+ online marketing quizzes for you that will help you identify knowledge gaps and build confidence. The shift toward a more integrated and interdependent world economy is referred to as globalization. 74) The environment in which marketing and marketers operate is dynamic and usually outside the control of marketing managers. (5) 41. True B. Many monopolies are government-created. The market economy is an economy where private and public ownership of businesses is the norm. The most formal and best definition of marketing is ___________. a. Answer. To position his business, John may consult the 5 Ps of marketing in the following manner: Product: By-the-hour jet ski rentals for people who are in the city for a short duration of time. b) He is easily approachable. b. Strategic management includes the following: A. The main difference between B2B and B2C is who the buyer of a product or service is. d) All of the above 2. b 2. A limited liability form to be signed by . Answer: FALSE: 76) The marketing concept is entirely consistent with serving only segments of the customer population . bynd cannasoft enterprises inc. (bcan) is up over 35% at $7.07 kohl's corporation (kss) is up over 13% at $47.70 redwood trust, inc. (rwt) is up over 12% at $10.45 gitlab inc. (gtlb) is up over 10%. Which of the following statements is true when marketing your business online?