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Institute of Management and Information Technology, Cuttack
Institute of Management and Information Technology, Cuttack
3. In business buying process, group who has formal authority of supplier selection
is classified as
A. user
B. influencer
C. decider and gatekeeper
D. Buyer
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6. Organization’s buying behaviours of raw materials for production purposes is
called
A. Business buyer behaviour
B. derived demand
C. business buying process
D. cognitive dissonance
9. In business buying process, group who manage and control information flow is
classified as
A. user
B. influencer
C. decider
D. Gatekeeper
10. Stage in buying behaviour which follows supplier's selection and discuss final
specification of raw materials is classified as
A. supplier selection
B. proposal solicitation
C. supplier search
D. Order-routine specification
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12. In business buying process, group having informal or formal power of
approving suppliers is classified as
A. user
B. influencer
C. Decider and Gatekeeper
D. buyer
13. Trading of raw material through online sources between buyers and sellers is
classified as
A. e-procurement
B. de-procurement
C. online selling
D. direct marketing
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18. Business buying situation in which buyer reorders same order again and again
on routine basis is
A. New task
B. Modified rebuy
C. Straight rebuy
D. Solutions selling
22. Business buying situation in which buyer reorders same product is classified as
A. New task
B. Modified rebuy
C. Straight rebuy
D. Solutions selling
23. Business buying situation in which order is placed for first time is
A. New task
B. Modified rebuy
C. Straight rebuy
D. Solutions selling
24. Stage in which business buyer invites supplier to submit proposals is classified
as
A. Supplier selection
B. Proposal solicitation
C. Supplier search
D. Order specification
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25. Process which involves comparing alternative suppliers for buying raw
materials needed in production is classified as
A. Business buyer behavior
B. Derived demand
C. Business buying process
D. Cognitive dissonance
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32. How might you categorise the market for office photocopiers?
A.B2C
B.B2B
C. C2C
D.C2B
33. What is the difference between the term ‘customer’ and the term ‘consumer’?
A. There is no difference.
B. The term consumer refers only to people who buy food and drink products.
C. Customers buy products but it is consumers who use them.
D. Customers make organisational rather than personal purchases.
37. What is the term used in which products are sold to organisations who will use them to
make other products? For example, flour may be sold to a bakery which uses it to bake cakes.
A. Consumer market
B. Reseller
C. OEMs
D. Users
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39. Buyers and seller relationship is based on
A. Market condition
B. Buyer condition
C. Seller condition
D. All of the above
44. Innovating low cost and new technology alternative to a particular product is
called
A. Autonomous technology
B. Disruptive technology
C. CRM technology
D. All of the above
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46. Company must create the business model to get profit at discount price is
called
A. High end strategy
B. Low end strategy
C. Medium term strategy
D. All of the above
52. Which of the following is a major difference between consumer marketing and business-
to-business marketing?
a. More rational decision-making. ExtExternal
c. environment.
b. The customer is at the centre of d. Internal environment
the firm’s thinking
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53. What is meant by, entering goods and services?
a. Goods and services that are new c. Goods and services that become
to the market. part of other products.
b. Goods and services that are new d. All of the above
to the customer
56. Why is relationship building more common in business markets than in consumer
markets?
a. Because buyers get to like the c. Because consumers don’t like to
sales representatives they see have relationships with
every day. companies.
b. Because businesses often buy d. Consumers have a complex
from each other over a long mind.
period.
58. Why are salespeople more important in business markets than in consumer markets?
a. Because business firms can afford c. Because business markets
to pay them better. require more negotiation.
b. Business markets require more d. All of the above.
marketing.
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What is an initiator?
60. a. A type of salesman who initiates c. The person in the firm who
first contact with a buyer. controls the flow of information.
b. The person in the buying firm d. All of the above.
who first recognizes a problem.
62. Which of the following is NOT a risk avoidance tactic used by buyers?
a. Multisource the order. c. Visit the vendor’s operations.
b. Use an agent. d. Price fixing.
66. A customer which is involved in maintaining, repairing and overhauling products after
they have been sold is called:
a. An aftermarket customer. c. A maintenance customer.
b. An institutional customer. d. Business buyer.
67. Which of the following is NOT one of Druckers three basic questions?
a. What is our business? c. What will our business be?
b. What should our strategy be? d. How to do the business?
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69. What is a value network?
a. A group of firms who agree to co-operate c.A group of firms
against outside competition. which have a similar
value.
b. A group of firms who act together to create
value through a set of complex relationships.
70. Which of the following is NOT one of Porter’s three basic competitive positioning
stratetegies?
a. Cost leadership. c. Pricing.
b. Differentiation. d. Focus.
72. Which of the following is NOT one of the elements that supports the value chain?
a. Procurement. c. Human resource management.
b. Finance. d. Technology
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75. What is NAICS?
a. The North American Industrial c. The New American Intelligent
Classification System. Coding System.
b. The North Atlantic Industry d. The New Asian Industrial
Coding Society. Coding System.
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82. Which of the following is NOT one of the tests of a good segment?
a. Measurability. c. Profitability.
b. Accessibility. d. Demography
85. Companies which aim to be the first to use new technology are called:
a. Early adopters. c. Early majority.
b. Innovators. d. Late Laggards.
86. Which of the following is NOT one of the attributes of a rapidly-adopted innovation?
a. Relative advantage. c. Usability.
b. Compatibility. d. Technology.
87. A product which has been introduced by a firm into a market in which the firm has never
done business before is called:
a. A new-to-the-world product. c. An addition to the product line.
b. A new category entry. d. New market segment.
88. Which of the following is NOT a stage in the new product process?
a. Concept generation. c. Concept relationships.
b. Concept evaluation. d. Creating Prototype.
90. A strategy which offers a product virtually unchanged from its home market version is
called:
a. An extension strategy. c. A product invention strategy.
b. An adaptation strategy. d. Global Strategy.
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93. Setting prices by calculating all the costs then adding on the profit margin is called:
a. Cost-plus pricing. c. Calculation pricing.
b. Profit-based pricing. d. Value based pricing.
95. Setting the prices of goods which one division of the firm buys from another is called:
a. Divisional pricing. c. Transfer pricing.
b. Demand pricing. d. Negotiated Pricing.
100. The costs associated with changing from one product to another are called:
a. Changeover costs. c. Overhead costs.
b. Switching costs. d. Fixed Costs.
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102. Which of the following is NOT a controllable element in logistics?
a. Customer service. c. Legislation
b. Warehousing. d. Infrastructure
105. Which of the following is NOT a reason for effective supply-chain management?
a. It reduces costs. c. It improves relationships
between firms.
b. It improves asset utilization. d. It enhances business growth.
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110.
What is a tramp steamer?
a. A ship which does not c.A ship which has a different national
follow a set route. registry from the nationality of its
owners.
b.A ship which is old and
poorly-maintained.
111. Which of the following is NOT an added utility obtainable from distribution?
a. Place utility. c. Scale utility.
b. Ownership utility. d. Time utility
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118. What is a tying contract?
a. One which prevents the distributor c. One which prevents the distributor
from carrying competing goods. from selling outside a specific
territory.
b. One which requires the distributor d. One which cuts the distributors
to carry the entire manufacturer’s profit.
range.
121. Which of the following is a key reason for the failure of an exhibition?
a. Visitors are of the wrong type. c. Visitors’ and exhibitors’ aims are
incompatible.
b. Exhibitors fail to set out the stand d. Visitors fail to understand
properly. exhibitors.
123. What type of problem would you expect exhibitions to help with at the early-KAM
stage?
a. Building a social network c. Finding new partners
between the partner companies.
b. Selling more goods.
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126. What is a push strategy?
a. One in which goods are heavily c. One in which goods are heavily
promoted to end users. promoted to both end users and
distributors.
b. One in which goods are heavily d. One which goods are distributed
promoted to the distributors. at low price.
128. Which of the following is NOT a criterion for selecting which exhibition to attend?
a. Visitor profiles. c.Proportion of advertising
spends available.
b.Timing of the exhibition relevant to the
firm’s business cycle.
131. A system of using a limited set of measures, derived from the success factors for the
industry is called:
a. Factor analysis. c. Measure allocation.
b. Balanced scorecard. d. Market Audit.
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example by giving extended credit, in the
expectation of an increase in purchases later as
a show of gratitude.
137. What is an arrangement called whereby two companies with a common strategic goal make
a formal or informal agreement?
a. A licensing agreement. c. A strategic alliance.
b. A franchise agreement. d. Collaborative alliance.
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141. Which of the following is NOT a business customer?
a. Resellers. c. OEMs.
b. Institutional buyers. d. Suppliers.
142. Which of the following is NOT a component of Webster and wind Model?
a. Economic Variables. c. Organisational Variables.
b. Buying centre Variables. d. Conflict Resolution Variables.
143. Which of the following is a component conflict resolution method in joint decision making
process?
146. Which of the following is NOT a key element in value creation in marketing mix?
a. Information Technology. c. Relationship Marketing.
b. Financial. d. Micro marketing.
149. Which of the following is NOT considered a factor while pricing of industrial goods?
a. Market penetration. c. Survival.
b. Market growth. d. Product quality leadership.
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150. What is the present economic life of the assets borrowed in the financial leasing?
a. 75%. c. 60%.
b. 90%. d. 85%.
Answers
1.(a) 2.(a) 3.(d) 4.(a) 5.(a) 6.(a) 7.(d) 8.(d) 9.(d) 10.(d) 11.(a) 12.(c) 13.(a) 14.(a)
15.(c) 16.(b) 17.(b) 18.(c) 19.(a) 20.(b) 21.(a) 22.(c) 23.(a) 24.(b) 25.(c) 26.(a)
27.(b) 28.(c) 29.(a) 30.(b) 31.(a) 32.(b) 33.(c) 34.(d) 35.(d) 36.(a) 37.(d) 38.(b) 39.(a)
40.(d) 41.(a) 42.(b) 43.(a) 44.(b) 45.(d) 46.(b) 47.(a) 48.(a) 49.(c) 50.(a) 51.(c) 52.(a)
53.(c) 54.(b) 55.(a) 56.(b) 57.(c) 58.(c) 59.(a) 60.(b) 61.(c) 62.(b) 63.(b) 64.(a)
65.(b) 66.(a) 67.(b) 68.(a) 69.(b) 70.(c) 71.(b) 72.(b) 73.(a) 74.(c) 75.(a) 76.(b)
77.(a) 78.(b) 79.(c) 80.(b) 81.(c) 82.(c) 83.(a) 84.(c) 85.(b) 86.(c) 87.(b) 88.(c) 89.(a)
90.(a) 91.(b) 92.(c) 93.(a) 94.(b) 95.(c) 96.(b) 98.(c) 99.(a) 100.(b) 101.(a) 102.(c)
103.(b) 104.(a) 105.(c) 106.(a) 107.(b) 108.(b) 109.(b) 110.(a) 111.(c) 112.(a) 113.(c)
114.(c) 115.(a) 116.(b) 117.(b) 118.(b) 119.(a) 120.(b) 121.(c) 122.(c) 123.(a) 124.(c)
125.(b) 126.(c) 127.(c) 128.(a) 129.(b) 130.(b) 131.(b) 132.(a) 133.(b) 134.(c) 135.(c)
136.(b) 137.(c) 138.(b) 139.(c) 140.(b) 141.(d) 142.(d) 143.(a) 144.(c) 145.(d) 146.(b)
147.(b) 148.(b) 149.(b) 150.(b)
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