MKTG 400 Exam queries and
answers well graded 100%
Derived Demand - ANS✅✅the demand for industrial products and services that is driven by, or
derived from, the demand for consumer products and services
Business-to-business marketing - ANS✅✅the marketing of products and services to companies,
governments, or not-for-profit organizations for use in the creation of products and services that
they can produce and market to others
Organizational buying criteria - ANS✅✅objective attributes of the suppliers products and services
and the capabilities of the suppliers itself
Organizational buying criteria list - ANS✅✅• Price
• ability to meet quality specification
• ability to meet delivery schedules
• technical capability
• past performance
• production facilities and capacity
Organizational buying behavior - ANS✅✅the decision-making process that organizations use to
establish the need for products and services and identify, evaluate, and choose among alternative
brands and suppliers
Buy classes - ANS✅✅consist of three types of organizational buying situations: straight rebuy, new
buy, and modified rebuy.
Reciprocity - ANS✅✅an industrial buying practice in which two organizations agree to purchase
each other's products and services
Supply Partnership - ANS✅✅a relationship that exists when a buyer and its supplier adopt
mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost of
increasing the value of products and services delivered to the ultimate consumer
, Buying Center - ANS✅✅consists of the group of people in an organization who participate in the
buying process and share common goals, risks, and knowledge important to a purchase decision.
-New buy
-Straight buy
-Modified - ANS✅✅the three different types of buys
New buy - ANS✅✅Brand new buy
Straight buy - ANS✅✅Buying more of one product
Modified buy - ANS✅✅Use same design but different color
Countertrade - ANS✅✅the practice of using barter rather than money for making global sales
Gross Domestic Product - ANS✅✅the monetary value of all products and services produced in a
country during one year
Protectionism - ANS✅✅the practice of shielding one or more industries within a country's
economy from foreign competition through the use of tariffs or quotas
Tariffs - ANS✅✅government taxes on products or services entering a country that primarily serve
to raise prices on imports
Quota - ANS✅✅a restriction on the amount of a product allowed to enter or leave a country
International Firms - ANS✅✅-home market strategy: take the US strategy in another country
-the lazy way
multidomestic marketing strategy - ANS✅✅involves multinational firms that have as many
different product variations, brand names, and advertising programs as countries in which they do
business.
answers well graded 100%
Derived Demand - ANS✅✅the demand for industrial products and services that is driven by, or
derived from, the demand for consumer products and services
Business-to-business marketing - ANS✅✅the marketing of products and services to companies,
governments, or not-for-profit organizations for use in the creation of products and services that
they can produce and market to others
Organizational buying criteria - ANS✅✅objective attributes of the suppliers products and services
and the capabilities of the suppliers itself
Organizational buying criteria list - ANS✅✅• Price
• ability to meet quality specification
• ability to meet delivery schedules
• technical capability
• past performance
• production facilities and capacity
Organizational buying behavior - ANS✅✅the decision-making process that organizations use to
establish the need for products and services and identify, evaluate, and choose among alternative
brands and suppliers
Buy classes - ANS✅✅consist of three types of organizational buying situations: straight rebuy, new
buy, and modified rebuy.
Reciprocity - ANS✅✅an industrial buying practice in which two organizations agree to purchase
each other's products and services
Supply Partnership - ANS✅✅a relationship that exists when a buyer and its supplier adopt
mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost of
increasing the value of products and services delivered to the ultimate consumer
, Buying Center - ANS✅✅consists of the group of people in an organization who participate in the
buying process and share common goals, risks, and knowledge important to a purchase decision.
-New buy
-Straight buy
-Modified - ANS✅✅the three different types of buys
New buy - ANS✅✅Brand new buy
Straight buy - ANS✅✅Buying more of one product
Modified buy - ANS✅✅Use same design but different color
Countertrade - ANS✅✅the practice of using barter rather than money for making global sales
Gross Domestic Product - ANS✅✅the monetary value of all products and services produced in a
country during one year
Protectionism - ANS✅✅the practice of shielding one or more industries within a country's
economy from foreign competition through the use of tariffs or quotas
Tariffs - ANS✅✅government taxes on products or services entering a country that primarily serve
to raise prices on imports
Quota - ANS✅✅a restriction on the amount of a product allowed to enter or leave a country
International Firms - ANS✅✅-home market strategy: take the US strategy in another country
-the lazy way
multidomestic marketing strategy - ANS✅✅involves multinational firms that have as many
different product variations, brand names, and advertising programs as countries in which they do
business.
