• Question 1

2 out of 2 points

If the demand for product A stays constant regardless of the increase or decrease in demand for product B, it can be said that product A is experiencing _____ demand.
Selected Answer: 1.

inelastic

  • Question 2

0 out of 2 points

A buying situation in which business purchasers are willing to re-evaluate their available options is known as:
Selected Answer: 4.

a straight rebuy.

  • Question 3

2 out of 2 points

In the B2B marketplace, segmentation based on the precise way in which the business will use the product is called:
Selected Answer: 1.

end-use application segmentation.

  • Question 4

0 out of 2 points

Honda, a Japanese firm, builds a factory in Alabama to make minivans to be marketed to Americans. This strategy is best described as:
Selected Answer: 1.

a joint venture between Honda and Alabama legislatures seeking to increase employment opportunities.

  • Question 5

2 out of 2 points

A manufacturer retains more control over the export process when it deals with an export-management company than if it were to sell the goods outright to an export-trading company.
Selected Answer: 2.

True

  • Question 6

0 out of 2 points

If consumer demand for dishwashers increases, dishwasher manufacturers will buy more raw materials, components and supplies as a result of the link between the consumer market and the industrial market. This linkage is called coordinated demand.
Selected Answer: 1.

True

  • Question 7

2 out of 2 points

A company’s buying center encompasses:
Selected Answer: 2.

everyone who is involved in any aspect of the buying process.

  • Question 8

2 out of 2 points

A business paying for the use of equipment owned by an outside supplier for a specified period of time is known as:
Selected Answer: 4.

leasing.

  • Question 9

2 out of 2 points

When business purchasers shift from straight rebuy to modified rebuy behavior, it is often due to:
Selected Answer: 4.

a deterioration in supplier service or delivery.

  • Question 10

2 out of 2 points

Which of the following is one of the major policy initiatives of the WTO?
Selected Answer: 4.

Liberalizing world financial services.

  • Question 11

2 out of 2 points

Food manufacturers often set up tables in grocery stores where customers can sample featured products. The goal of this type of promotion is to influence the _____ component of attitude.
Selected Answer: 3.

behavioral

  • Question 12

2 out of 2 points

Marketers find various methods like providing exclusive, unique or prestigious products to attract and impress the upper classes.
Selected Answer: 1.

True

  • Question 13

0 out of 2 points

NAFTA created a common market among countries in North America.
Selected Answer: 1.

True

  • Question 14

2 out of 2 points

Which of the following is not an example of international direct investment by a firm?
Selected Answer: 1.

Export management company

  • Question 15

0 out of 2 points

“Merchandiser” is the common designation for a purchasing agent in wholesale and retail trades.
Selected Answer: 1.

False

  • Question 16

2 out of 2 points

Assume China and the United States are involved in a trade dispute. Which organization will attempt to resolve the dispute?
Selected Answer: 4.

WTO

  • Question 17

0 out of 2 points

Approximately, half of the U.S. national GDP generated by services comes from:
Selected Answer: 2.

retailing.

  • Question 18

2 out of 2 points

Generally speaking, human behavior is primarily a function of pressures exerted by outside environmental forces on the individual.
Selected Answer: 2.

False

  • Question 19

2 out of 2 points

All of the following are advantages of foreign licensing over exporting except:
Selected Answer: 3.

less control of the venture by the licensor.

  • Question 20

0 out of 2 points

The most profitable service export for the United States is:
Selected Answer: 1.

retailing.

  • Question 21

2 out of 2 points

Education, individualism, freedom, health and humanitarianism are some of the:
Selected Answer: 4.

core values in U.S. culture.

  • Question 22

0 out of 2 points

Subcontracting to a foreign company is a contractual agreement that allows avoidance of the import duties and regulations.
Selected Answer: 1.

False

  • Question 23

0 out of 2 points

NAFTA has experienced more success than the European Union because the United States, Mexico, and Canada only concern themselves with three languages, whereas the EU has 25 nations speaking 25 different languages.
Selected Answer: 1.

True

  • Question 24

2 out of 2 points

Business marketers advertise primarily to announce new products, to enhance their company image and presence, and to attract potential customers who would then deal directly with a salesperson.
Selected Answer: 1.

True

  • Question 25

0 out of 2 points

Culture can be defined as values, beliefs, preferences, and tastes that are handed down from one generation to the next.
Selected Answer: 1.

False