Switching costs ____________________________. Question 1 options: a)  that are high provide good opportunities for new partners or suppliers to enter this market (picture). b)  in consumer markets can be high due to investments that partners make in matching buying and ordering. c)  can be kept lower by utilizing a sole supplier. d)  are more important for businesses, than for consumer buyers, due to the close buyer-seller relationships that develop. e)  that are kept high are a good long-term tactic to keep buyers locked into poor quality service. Question 2 (3 points) Which of the following applies to Intellectual Property law? Question 2 options: a)  copyrights provide protection for trade secrets. b)  copyrights provide protection for the original works of authors, musicians, and photographers. c)  confidentiality agreements are only required for customers. d)  requires a substantiality test to gain property protection. e)  tends to reduce competition and decrease innovation. Question 3 (3 points) Business buyers are similar to final consumers in that: Question 3 options: a)  They purchase products and services that support the production of other products. b)  Ensuring that revenues exceed costs always the primaryconsideration when evaluating a product for purchase. c)  They purchase products to add to and make their own final product d)  Customer satisfaction is determined by the customer when the product or service is consumed. e)  Products purchased are often incorporated into the buying organization's offering to its own customers. Question 4 (3 points) Based on the Endries Fastener Company video, the goal of the President of Endries Supply Company was to  __________________________. Question 4 options: a)  save their customers at least 4% of the cost of their fasteners. b)  not get involved in Endries' customers' buying decisions until the Deliver Solution Stage c)  be the sole supplier of all the fastener needs of Endries' customers by getting involved all the way through their manufacturing processes. d)  be the number two fastener provider for the U. S. Department of Defense. e)  be the number one fastener provider for the women's fashion industry. Question 5 (3 points) A good example of Natural Law is ______________? Question 5 options: a)  behaving naturally and not getting too excited when a crisis occurs in your company. b)  the belief that some people are just naturally bad and the more of these bad people that we lock up the better. c)  when executives just naturally look out for themselves and take company funds for their personal use. d)  a belief that taking anyone's life is wrong, even for the government when terrible mass murders are committed, like those by the young man in Charleston at a church prayer meeting. e)  protecting the natural environment by restricting access to wilderness areas Question 6 (3 points) Which of the following takes place.

1. Switching costs ____________________________.
Question 1 options:
a)
that are high provide good opportunities for new partners or
suppliers to enter this market (picture).
b)
in consumer markets can be high due to investments that
partners make in matching buying and ordering.
c)
can be kept lower by utilizing a sole supplier.
d)
are more important for businesses, than for consumer buyers,
due to the close buyer-seller relationships that develop.
e)
that are kept high are a good long-term tactic to keep buyers
locked into poor quality service.
Question 2
(3 points)
Which of the following applies to Intellectual Property law?
Question 2 options:

2. a)
copyrights provide protection for trade secrets.
b)
copyrights provide protection for the original works of authors,
musicians, and photographers.
c)
confidentiality agreements are only required for customers.
d)
requires a substantiality test to gain property protection.
e)
tends to reduce competition and decrease innovation.
Question 3
(3 points)
Business buyers
are similar
to final consumers in that:
Question 3 options:
a)
They purchase products and services that support the production
of other products.
b)

3. Ensuring that revenues exceed costs always the
primaryconsideration when evaluating a product for purchase.
c)
They purchase products to add to and make their own final
product
d)
Customer satisfaction is determined by the customer when the
product or service is consumed.
e)
Products purchased are often incorporated into the buying
organization's offering to its own customers.
Question 4
(3 points)
Based on the Endries Fastener Company video, the goal of the
President of Endries Supply Company was to
__________________________.
Question 4 options:
a)
save their customers at least 4% of the cost of their fasteners.
b)
not get involved in Endries' customers' buying decisions until
the Deliver

4. Solution
Stage
c)
be the sole supplier of all the fastener needs of Endries'
customers by getting involved all the way through their
manufacturing processes.
d)
be the number two fastener provider for the U. S. Department of
Defense.
e)
be the number one fastener provider for the women's fashion
industry.
Question 5
(3 points)

5. A good example of Natural Law is ______________?
Question 5 options:
a)
behaving naturally and not getting too excited when a crisis
occurs in your company.
b)
the belief that some people are just naturally bad and the more
of these bad people that we lock up the better.
c)
when executives just naturally look out for themselves and take
company funds for their personal use.
d)
a belief that taking anyone's life is wrong, even for the
government when terrible mass murders are committed, like
those by the young man in Charleston at a church prayer
meeting.

6. e)
protecting the natural environment by restricting access to
wilderness areas
Question 6
(3 points)
Which of the following takes place during the
Collaborate
stage of the Strategy of Market Ownership?
Question 6 options:
a)
Keep definitions of value current within the market
b)
Divestiture of poorly performing SBU's
c)

7. Brand identified as standard
d)
Market owner gains insight to other points of view within the
market
e)
Black and Decker sold their small appliance line to General
Electric during this stage.
Question 7
(3 points)
Which of the following statements about Brand Identity is most
correct?
Question 7 options:
a)
Is extremely important when marketing to comic book trade
show conventions.

8. b)
Many consumer products have component parts manufactured
by brands that are the same as consumer brands.
c)
Many well-known brands in business markets may be virtually
unknown by consumers.
d)
Is direct, elastic, and less volatile.
e)
Brand identity is
not
as important in business markets as it is in consumer markets.
Question 8
(3 points)
Value _________________________.

9. Question 8 options:
a)
is the sum of all the benefits that a customer receives minus the
costs involved.
b)
is calculated, in part, by the concept of evaluated price, which
is the sum of all the total benefits evaluated by the buyer when
owning and using a product.
c)
is the central element in the idea of a Value Chain, first put
forth by Rand Paul in 2015, while appearing on the Daily Show,
with Jon Stewart.
d)
is seldom used by customers because it is so complicated to
evaluate.
e)

10. is created by the manufacturer alone.
Question 9
(3 points)
The Uniform Commercial Code is
__________________________.
Question 9 options:
a)
One of the favorite classes for "wannabe" corporate lawyers in
law school
b)
A standard set of laws that govern contracts and associated case
law
c)
designed to regulate uniform price maintenance.

11. d)
is a set of codes to develop uniform classifications codes for
intellectual property.
e)
used in all 50 U. S. states as the uniform standard for
commercial contracts.
Question 10
(3 points)
The recent social media campaign directed at the Kraft company
tried to get Kraft to __________________.
Question 10 options:
a)
Change the ingredients in Kraft Macaroni and Cheese
b)
Remove negative advertising directed at young children

12. c)
Encouraging them to give up its tobacco products
d)
Prevent them from buying milk from organic farms
e)
Change the chemical composition of its agricultural products
Question 11
(3 points)
The Bullwhip Effect _____________.
Question 11 options:
a)
happens because small changes in consumer demand cause big
changes in business demand.

13. b)
happens when senior executives fire business marketers without
cause or notice.
c)
Should be avoided at all cost.
d)
happens because many foreign buyers demand that business
marketers be certified by International Standards Organizations
(ISO).
e)
Is more likely to be felt at the International Rodeo during bull-
riding competitions at the nrg stadium in Houston.
Question 12
(3 points)
Markets evolve as competitors, channels, customers, and
technologies change. According to the textbook and the

14. discussion, into what form of competition are markets most
likely to eventually emerge?
Question 12 options:
a)
Monopsony
b)
Oligopoly
c)
Competitive Maturity
d)
Monopolistic Competition
e)
Hypergrowth

15. Question 13
(3 points)
The Covisint Automotive Supply Chain Exchange venture (from
the opening story in Chapter Three was
__________________________.
Question 13 options:
a)
Plagued by problems caused by an unwillingness of suppliers
and buyers to share important information
b)
An online dating service rivaling eHarmony.com
c)
A major force in the Automotive Industry overcoming the parts
supply shortages caused by the Japanese Tsunami.
d)

16. an excellent model of supplier/buyer purchasing partnerships.
e)
an outstanding success.
Question 14
(3 points)
Which of the following Acts is known as the pricing act,
because it dealt with price discrimination and provided
penalties for both buyers and sellers?
Question 14 options:
a)
There is no correct answer because U. S. Law does not cover
pricing discrimination.
b)
Sherman Anti-Trust Act
c)

17. Federal Trade Commission Act
d)
Robinson-Patman Act
e)
Clayton Act
Question 15
(3 points)
The Seimens company CEO Heinrich von Pierer created a 10
point plan to revamp Siemens. At the end of the story he
______________________.
Question 15 options:
a)
became embroiled in a scandal involving bribes paid to foreign
governments and since he was at fault the company defended
him.

18. b)
was promoted to a higher post as supreme CEO in charge of all
European operations.
c)
Was hired by Donald Trump to turn his presidential campaign
around in 2015.
d)
was rewarded handsomely for turning the company around and
making them successful
e)
became embroiled in a scandal involving bribes paid to foreign
governments and even though he was not involved, took
responsibility and resigned.
Question 16
(3 points)

19. Which of the following strategic management process steps is in
the right order from start to finish?
Question 16 options:
a)
Monitoring of environment and performance results, setting
goals, adjustments based on analysis of variance, SWOT
b)
Tactics, strategy, objectives, goals
c)
Setting goals and objectives, analysis of the current situation,
SWOT analysis, strategy design
d)
Analysis of variance, implementation plan design, analysis of
the situation, strategy plan design
e)

20. Setting goals, monitor environment, adjustments, SWOT
analysis
Question 17
(3 points)
Which of the following statements about the
Bayer
company is correct?
Question 17 options:
a)
Bayer has been in business for almost 30 years.
b)
Bayer has been implicated in many questionable incidences of
bribing foreign governments in attempts to maintain ownership
of its markets.
c)

21. Scientists at the Bayer company have developed a wallpaper
that delays the collapse of buildings during earthquakes.
d)
Bayer has always been an American owned company.
e)
Bayer concentrates on and allocates most of its resources to its
high market share aspirin products.
Question 18
(3 points)
_____________________________________ are those retailers
who, either through mail order, e-commerce, or other means,
provide a reduced service package to customers, enabling a
lower sales price.
Question 18 options:
a)
Interlocking Directorates

22. b)
Full-service retailers
c)
Fair trade retailers
d)
Predatory pricing merchants
e)
Free Riders
Question 19
(3 points)
The
most significant differences
between Business to Business Marketing and Consumer
Marketing are:

23. Question 19 options:
a)
Prices for consumer buyers are more likely to be fixed list or
predetermined prices, while prices for organizational buyers are
almost always negotiable.
b)
Channels of distribution are shorter and more direct for business
customers.
c)
The primary promotional emphasis is personal selling for
consumers.
d)
Consumer products are more technically complex than business
products.
e)

24. Consumer buyers are more likely to be professionally trained
purchasing personnel.
Question 20
(3 points)
The Marketing Concept ___________.
Question 20 options:
a)
includes understanding customer needs, in a coordinated way,
that meets organizational goals.
b)
Is the quantity of goods demanded by a group of business
buyers at a given price
c)
Is a dated concept no longer used
d)

25. Is how business marketers conceptualize new ideas when trying
to beat the competition.
e)
Is the same as the 4 P's.
Question 21
(3 points)
Consumer Market Structure is ______________.
Question 21 options:
a)
relatively few buyers
b)
geographically dispersed
c)

26. professionally trained purchasing personnel.
d)
oligopolistic competition
e)
geographically concentrated
Question 22
(3 points)
In the opening story for chapter Two the two big segments that
TRW markets to are: _______________________________ and
________________________.
Question 22 options:
a)
Original Equipment Manufacturers (OEM) and Governmental
Units
b)

27. Trans Regional Wholesalers (TRW)
c)
Aerospace Manufacturers and Aftermarket Equipment
Manufacturers
d)
End users and Value Added Resellers (VAR)
e)
Original Equipment Manufacturers (OEM) and Aftermarket
Equipment Manufacturers
Question 23
(3 points)
Which one of the following types of Organizational Customers
are classified as
Commercial Enterprises

28. by the textbook's authors?
Question 23 options:
a)
Banks and other Lending Institutions
b)
Hospitals
c)
Component Parts and Manufactured Materials Producers
d)
The American Red Cross
e)
The Independent Press
Question 24

29. (3 points)
The four stages of the Process Flow Model of the
Organizational Buyers Decision Process are
_________________?
Question 24 options:
a)
Definition, Selection, Deliver