Marketing 442 - Business to Business Marketing » Spring 2024 » Quiz Ch 3

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Question #1
Which of the following is an assumption of the traditional approach to marketing?
A.   Marketing process is to study buying behavior, research customer need, create offer and influence purchase decision.
B.   Marketer and Customer operate separately and are at odds with each other.
C.   All of these
D.   Marketer is ACTIVE while customer is PASSIVE.
Question #2
As a result of the Principal-Agent problem, businesses should focus on
A.   Evaluate switching costs
B.   Establishing a clear contract
C.   Selecting a qualified agent
D.   Selecting a qualified principal
Question #3
When considering the impact of the network concept, what three models characterize good network management when considering exchange with another organization?
A.   Relationship-Oriented, Trust-Oriented, Commitment-Oriented
B.   Actor Bond-Related, Network-Related, ARA Analysis
C.   Social-Exchange Theory, Principal Agent Theory, Transaction Cost Theory
D.   Basically Coordinated, Control-Oriented, Reward-Oriented
Question #4
When considering a contract, organizations looking to partner should consider which of the following?
A.   Defining operational elements in detail.
B.   Clarifying who controls the contract.
C.   All of these
D.   Stating performance activities more clearly
Question #5
Uncertainty, asset specificity, and frequency of transaction are 3 factors that affect
A.   Relationship costs
B.   Transaction costs
C.   Exchange costs
D.   Switching costs
Question #6
Transaction Cost Theory suggests that the task for organizations is to 
A.   Find a solution that reduces costs the most.
B.   Determine which costs can be assigned to large transactions and which are uneccesary.
C.   Find a way to work with a partner that creates the most economically efficient transaction.
D.   Consideration only the minimum costs in making a decision to acquire goods or services.
Question #7
Relative Power Dependence stems from 
A.   One party having more money.
B.   A shift of dependence of one party on the other.
C.   One party not having a need for the other.
D.   One party being a larger organization.
Question #8
Costs associated with changing from one choice to another
A.   Competitive costs
B.   Transactional costs
C.   Switching costs
D.   Relationship costs
Question #9
Value can be defined as the _____ benefits received by a customer firm in exchange for the price paid for a product offering.
A.   All of these
B.   Social
C.   Economic
D.   Technical
Question #10
Market uncertainty is typically...
A.   a managerial approach to marketing based on the ideas that the buyer and seller operate independently.
B.   Where need uncertainty is high a buyer is likely to adopt ore protracted buying processes in order to help reduce the uncertainty.
C.   All of these
D.   a function of the number of alternatives and how differentiated the suppliers are from each other.

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