This test has 20 true/false questions and will last 15 minutes.
Customers in the business market can be broadly classified into three categories: (1) commercial enterprises; (2) government; and (3) institutions.
Planning in the business marketing setting requires more functional interdependence and a closer relationship to total corporate strategy than does planning in the consumer goods sector.
Price may be critical in the marketing strategy for supplies because many supply items are undifferentiated.
Personal selling is less important for supplies than it is for other categories of goods, such as installations.
The "compatibility" of a cross-functional working relationship can be defined as the common ground or shared goals that can unite managers who represent different functional areas.
Other functional areas affect all business marketing decisions, either directly or indirectly.
A marketing strategy that works well for selling entering goods should be equally successful for facilitating goods.
As foundation goods are used up or worn out, a portion of their original cost is assigned to the production process as a depreciation expense.
Personal computers and light factory equipment such as portable drills provide examples of industrial goods that would be classified as accessory equipment.
Industrial goods are classified on the basis of how organizational buyers shop for particular products and services.
The intended use of the product and the intended consumer distinguishes business marketing from consumer-goods marketing.
A particular industrial customer might be properly classified as a user by some business marketers and an original equipment manufacturer by other business marketers.
The demand for industrial products is derived from the ultimate demand for consumer products.
Relationships between business marketers tend to be close and enduring.
A close examination of a market-driven firm will reveal two important capabilities: market sensing and customer linking.
Due to downturns in the economy, the demand for many consumer products tends to fluctuate more than the demand for industrial products.
In contrast to raw materials, manufactured materials and parts would be classified as capital items.
None of the products purchased by customers in the business market are the same as those purchased by ultimate consumers.
Firms operating in the business market must respond not to a single consumer but to a much wider group of buying influential, all of whom may bring different criteria to bear on the purchase decision.
Supply chain management requires Information sharing, shared technologies, and shared benefits.
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