61. A representative product taken from a lot or batch

61. A representative product taken from a lot or batch, evaluated, and purchased refers to
a) homogeneous selection.
b) description.
c) trust.
d) negotiated inspection.
e) sampling.
62. Which method of business buying is necessary when products are highly homogeneous and
examination of each item is not feasible?
a) Negotiation
b) Sampling
c) Description
d) Inspection
e) Homogeneous selection
63. St. Jude’s Hospital decides to redo its kitchen with new flooring, cabinets, counters, and
appliances. The hospital compiles a description of the project and then asks sellers to submit bids.
After determining the most attractive bids, the hospital will then work with two or three companies
to determine who will get the contract. This is an example of using ______ for a purchase decision.
a) sampling
b) negotiation
c) inspection
d) elimination
e) description
64. Which of the following products is most likely to be purchased on the basis of contract
negotiation?
a) Eggs
b) Office supplies
c) Used cars
d) A custom-made bulldozer
e) Wheat
65. Most business purchases can be classified as belonging to one of three types:
a) delinquent, repetitive, or delivered.
b) repetitive, new-task, or modified rebuy.
c) modified rebuy, new-task, or straight rebuy.
d) delinquent, new-task, or reciprocal.
e) rebuy, reciprocal, or delayed.
66. When a business routinely purchases the same product with similar terms of sale, the
purchase is called a
a) new-task.
b) repetitive purchase.
c) straight rebuy.
d) modified rebuy.
e) standard order.
67. When a business is making its initial purchase of an item to be used to perform a new job, it
is known as a _________ purchase.
a) straight rebuy
b) reciprocal
c) delayed
d) new-task
e) modified rebuy
68. Perry Supply’s sales and sales force have continued to expand. Now, the firm plans to add a
fleet of company cars as part of its sales compensation package. For Perry Supply, these vehicles
would represent a ____________ purchase.
a) modified rebuy
b) straight rebuy
c) new-task
d) reevaluated
e) repetitive
69. Anderson Distribution Company has purchased 15 forklifts over the past two years. As it
plans to place its next order for another five machines, management wonders if additional features
may be needed in order to handle changes in the product lines it carries. For Anderson, these new
forklifts represent a ___________ purchase.
a) new-task
b) repetitive
c) straight rebuy
d) repetitive order
e) modified rebuy
70. A representative from Coca-Cola stops by at a local fast-food restaurant once a month to
inquire how much soft drink syrup the store will need. The restaurant’s orders are an example of
which type of business purchase?
a) New-task
b) Modified rebuy
c) Straight rebuy
d) Bid
e) Negotiated
71. Safeway Supermarkets recently placed an order with the Kahn Corporation. Safeway has
ordered these same products before under the same terms of sale. What type of purchase does this
situation represent?
a) New-task
b) Repetitive
c) Institutional
d) Straight rebuy
e) Modified rebuy
72. When the requirements associated with a new-task purchase are changed the second or
third time, this is called a ___________ purchase.
a) modified rebuy
b) continued new-task
c) contractual
d) straight rebuy
e) negotiated rebuy
73. Demand for business products is also known as ______ demand.
a) derived
b) corporate
c) business buying
d) manufacturing
e) industrial
74. The fact that business customers purchase products to be used directly or indirectly in the
production of goods and services to satisfy customers’ needs means that demand for business
products is
a) joint.
b) economically stable.
c) derived.
d) inelastic.
e) more fluctuating.
75. Goodyear is a manufacturer and marketer of tires for new passenger cars. In recent years,
the company’s business has declined because of the overall decrease in consumer demand for new
cars. In this case, the demand for Goodyear’s tire products is said to be _______since it depends on
the demand for new cars.
a) inelastic
b) fluctuating
c) derived
d) elastic
e) nonderived
76. Demand for business products is characterized as derived. From what is the demand
derived?
a) Industrial demand
b) Modified demand
c) Demand for consumer products
d) Future product demand
e) The business cycle
77. All of the following describe the demand for business products except
a) elastic.
b) derived.
c) joint.
d) inelastic.
e) fluctuating.
78. _________ is(are) a major threat to the sales success of jointly demanded products.
a) Price changes
b) Shortages
c) Economic instability
d) Inventory buildup
e) Proliferation of brands
79. Inelastic demand simply means that
a) buyers will not make a modified rebuy purchase.
b) demand depends on how many items are purchased.
c) a price increase or decrease will not significantly change the demand for an item.
d) when price goes up, demand goes down.
e) when supply is reduced, the price will increase.
80. Inelastic demand in business markets refers to a situation where
a) demand for a given product fluctuates very little over time.
b) price increases or decreases will not significantly change demand for a given product.
c) demand for a given product fluctuates significantly over time.
d) demand for one product depends heavily on the demand for another product.
e) supply for a given product cannot keep pace with the demand for it.
81. Demand for a business product is ___________ if a price increase or decrease will not
significantly affect that demand.
a) elastic
b) inelastic
c) derived
d) joint
e) separate
82. In placing a tire order with Michelin, South Side Industrial Supply finds that the truck tires it
is ordering have increased $37.50 in price since the last order. South Side proceeds with the order,
confident that it can pass on the price increase to future customers. This is an example of business
products having ___________ demand.
a) derived
b) inelastic
c) joint
d) fluctuating
e) higher
83. Demand for a business product is _____ when two or more items are used in combination to
produce a product.
a) inelastic
b) joint
c) fluctuating
d) derived
e) partnered
84. As it places its order for truck tires with Michelin, South Side Industrial Supply realizes that it
must also place an order for valve stems and balancing weights for the truck tires. Such business
products are characterized as having ____________ demand.
a) derived
b) inelastic
c) joint
d) fluctuating
e) higher
85. When certain consumer products are in high demand, producers might buy extra materials
and equipment and when demand subsides, producers will cut back on their material purchases.
This describes _____ demand.
a) joint
b) inelastic
c) consumer
d) fluctuating
e) derived
86. Most business buying decisions are made by
a) one person.
b) a team of purchasing agents.
c) a firm’s buying center.
d) inventory control personnel.
e) the sales force.
87. In a buying center, purchasing agents or purchasing managers are also known as
a) gatekeepers.
b) deciders.
c) buyers.
d) users.
e) influencers.
88. The group of people within a business who are involved in making business buying decisions
is referred to as
a) the new-task team.
b) negotiators.
c) purchasing agents.
d) deciders.
e) the buying center.
89. The student senate at your university has been asked to give input on the purchase of new
computers for campus computer labs. In this instance, the student senate would be acting as a(n)
______.
a) buyer.
b) gatekeeper.
c) user.
d) influencer.
e) decider.
90. Barry Gluckman of WP International, a major marketer of word-processing software, calls
the secretary of Renee Dorchette, director of purchasing for MMK, Inc. He sets up an appointment
to discuss an upcoming purchase of software. The secretary plays the role of ___________ in this
purchase decision.
a) gatekeeper
b) buyer
c) decider
d) buying center captain
e) order giver

ORDER A SIMILAR ESSAY WRITTEN FROM SCRATCH at : https://www.topgradehub.com/

PLACE YOUR ORDER