MKTG 4532 EXAM #1 QUESTIONS AND ACCURATE
ANSWERS 100% PASS
business markets - ANSWER markets for products and services, local to international
business markets are bought by: - ANSWER commercial businesses, government bodies and
institutions (largest markets)
business markets are for: - ANSWER incorporation, for use, or for resale
why study B2B? - ANSWER - dollar volume greatly exceeds the consumer market
- a single customer can purchase enormous amounts (market is HUGE)
- 4.5% of business school grads join B2B firms
what does consumer or business products depend on? - ANSWER 1. intended customer
(segments)
2. Intended use (only one in B2B)
what is a segment? - ANSWER a group that has similar needs
what are some consumer segments? - ANSWER race, age, status, income level, location,
religion
,what are the 3 business segments? - ANSWER 1. commercial business
2. government bodies
3. institutions
commercial businesses - ANSWER - manufacturers
- resellers
- service firms
- professional
- transportation
what is a subsegment of commercial businesses? - ANSWER manufacturers & size
manufactures & size - ANSWER - need a different marketing strategy for businesses of
different sizes
- all customers are NOT equal
manufacturers & geographic - ANSWER large metropolitan areas
what implications for marketers does manufacturers & geographies have? - ANSWER - can
focus marketing efforts
, - need distribution centers in large volume areas
- frequent centralized purchasing
what 2 buying approaches do governments have? - ANSWER 1. formally advertise for
standardized products, generally buy from lowest bidder
2. negotiated contracts for customer, complex R&D projects
what kind of marketing strategies do governments need? - ANSWER need separate marketing
strategy to address govt. purchasing procedures
institutions - ANSWER - nonprofit sector
- buying often subject to legal constraints
- education and health care
what are the marketing institutions? - ANSWER universities, schools, hospitals, churches,
charities (each one requires DIFFERENT marketing strategies)
what are the intended uses of business purchases? - ANSWER 1. incorporation in production -
original equipment manufacturer (OEM)
2. use (consumed in operations)
3. resale - dealers or distributors - buy & resell
ANSWERS 100% PASS
business markets - ANSWER markets for products and services, local to international
business markets are bought by: - ANSWER commercial businesses, government bodies and
institutions (largest markets)
business markets are for: - ANSWER incorporation, for use, or for resale
why study B2B? - ANSWER - dollar volume greatly exceeds the consumer market
- a single customer can purchase enormous amounts (market is HUGE)
- 4.5% of business school grads join B2B firms
what does consumer or business products depend on? - ANSWER 1. intended customer
(segments)
2. Intended use (only one in B2B)
what is a segment? - ANSWER a group that has similar needs
what are some consumer segments? - ANSWER race, age, status, income level, location,
religion
,what are the 3 business segments? - ANSWER 1. commercial business
2. government bodies
3. institutions
commercial businesses - ANSWER - manufacturers
- resellers
- service firms
- professional
- transportation
what is a subsegment of commercial businesses? - ANSWER manufacturers & size
manufactures & size - ANSWER - need a different marketing strategy for businesses of
different sizes
- all customers are NOT equal
manufacturers & geographic - ANSWER large metropolitan areas
what implications for marketers does manufacturers & geographies have? - ANSWER - can
focus marketing efforts
, - need distribution centers in large volume areas
- frequent centralized purchasing
what 2 buying approaches do governments have? - ANSWER 1. formally advertise for
standardized products, generally buy from lowest bidder
2. negotiated contracts for customer, complex R&D projects
what kind of marketing strategies do governments need? - ANSWER need separate marketing
strategy to address govt. purchasing procedures
institutions - ANSWER - nonprofit sector
- buying often subject to legal constraints
- education and health care
what are the marketing institutions? - ANSWER universities, schools, hospitals, churches,
charities (each one requires DIFFERENT marketing strategies)
what are the intended uses of business purchases? - ANSWER 1. incorporation in production -
original equipment manufacturer (OEM)
2. use (consumed in operations)
3. resale - dealers or distributors - buy & resell
