Industrial Marketing - 3

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Single Answer
Question
The demand for industrial goods is :-
Correct Answer
Derived demand
Your Answer
Need of the customer

Select The Blank
Question
In customer market a ________ price increase will shrink demand.
Correct Answer
Higher
Your Answer
Small

Multiple Choice Single Answer
Question
A broad and definitive statement that covers an organization’s purpose, values and distinctive competencies is called :-
Correct Answer
Mission
Your Answer
Mission

Multiple Choice Single Answer
Question
Large industrial companies realize substantial cost savings is by having:-
Correct Answer
Centralized purchasing
Your Answer
Decentralized purchasing

Select The Blank
Question
The manufacturer of individual product can take customers away from competitor's by ________ efforts.
Correct Answer
Promotional
Your Answer
Promotional

Multiple Choice Multiple Answer
Question
Industries constitute an important basis for market segmentation for companies doing business in :-
Correct Answer
Computers , Software , Office equipment
Your Answer
Computers , Software , Office equipment

Multiple Choice Single Answer
Question
Prospecting is essential to ensure future sources of :-
Correct Answer
Sales revenue
Your Answer
Sales revenue

Multiple Choice Multiple Answer
Question
By reducing price, industrial marketers can :-
Correct Answer
Increase his share of the market , Enlarge the total market , Not make a major change in the end product price
Your Answer
Increase his share of the market , Enlarge the total market , Can substantially decrease end product price

Multiple Choice Single Answer
Question
Strengths and weaknesses of a firm can be derived through :-
Correct Answer
An internal environment analysis
Your Answer
An internal environment analysis

Multiple Choice Multiple Answer
Question
Service rating is judged by following factors :-
Correct Answer
Self interest , Promptness , Speed
Your Answer
Promptness , Speed , Delegation

Multiple Choice Single Answer
Question
Manufacturer & customer in industrial marketing are affected by :-
Correct Answer
Change in technology
Your Answer
Policies of Govt.

True/False
Question
Outsiders like technical consultants can play a key role in the purchase process of a large buying organization.
Correct Answer
True
Your Answer
True

Select The Blank
Question
The sales of standard industrial products are generally carried out through ________.
Correct Answer
Direct channel and middlemen
Your Answer
Direct channel and middlemen

Multiple Choice Single Answer
Question
A competitor while selling, may not be aware of his :-
Correct Answer
Overhead costs
Your Answer
Direct costs

Select The Blank
Question
An industrial product manufacturer would prefer to deal with ________ suppliers of component parts.
Correct Answer
Fewer
Your Answer
Domestic

Multiple Choice Multiple Answer
Question
Internal public includes :-
Correct Answer
Top management , Factory workers , Senior Managers
Your Answer
Top management , Factory workers , Senior Managers

Select The Blank
Question
A first approximation of ________ benefit analysis is necessary before a detailed segmentation analysis.
Correct Answer
Cost
Your Answer
Price

Match The Following
Question
Correct Answer
Your Answer
Compressors
Manufacturer
Manufacturer
Electric lift maintenance
Service firm
Service firm
Steel hardware
Whole seller/retailer
Distributor
Air-conditioners
Distributor
Manufacturers’ representatives

Multiple Choice Multiple Answer
Question
During discussions, sales people handle issues such as :-
Correct Answer
Delivery schedule , Pricing , After Sales Service
Your Answer
Delivery schedule , Pricing , After Sales Service

Multiple Choice Single Answer
Question
The generic need which the company will seek to satisfy, stated by top management is called:-
Correct Answer
Mission
Your Answer
Mission

Select The Blank
Question
Competitor, who enter late in the market, must apply part of their cash inflow to the amortization of their own ________ cost.
Correct Answer
Development
Your Answer
Promotion

Select The Blank
Question
When purchase of industrial equipment is involved, the stage between manufacture and dispatch of goods is called ________.
Correct Answer
Inspection
Your Answer
Inspection

Multiple Choice Single Answer
Question
Many overseas companies are attracted to India for setting up manufacturing operations for industrial products on account of :-
Correct Answer
Cost competitiveness
Your Answer
Cost competitiveness

Select The Blank
Question
Supply chain management is one of the tools used by modern companies to achieve ________.
Correct Answer
High productivity improvement and efficiency
Your Answer
High productivity improvement and efficiency

Multiple Choice Multiple Answer
Question
Structured surveys are used to measure :-
Correct Answer
Awareness & knowledge , Attitudes & opinions , Buyer behavior
Your Answer
Awareness & knowledge , Attitudes & opinions , Buyer behavior

Multiple Choice Single Answer
Question
The first step in the process of selling is :-
Correct Answer
Identifying prospects
Your Answer
Identifying prospects

Multiple Choice Multiple Answer
Question
Car manufacturers make following parts in their factories :-
Correct Answer
Engine , Gear box , Clutch
Your Answer
Engine , Gear box , Clutch

True/False
Question
Demand for many industrial product is elastic.
Correct Answer
False
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Sales department
To reduce cost of sales by 5% within one year
Increase profits for FY in Q3 and Q4
Industrial marketing department
Increase profits for FY in Q3 and Q4
Recruit new employees
Industrial marketing research department
Conduct survey for customer feedback on new product
Conduct survey for customer feedback on new product
Industrial marketing services department
Obtain service revenue from post-sales services in one market segment
Obtain service revenue from post-sales services in one market segment

True/False
Question
Sales forecast is the estimate of a Co's expected sales in a given time period.
Correct Answer
True
Your Answer
True

Select The Blank
Question
Industrial force should be ________ to market conditions.
Correct Answer
Responsive
Your Answer
Responsive

Multiple Choice Multiple Answer
Question
The legal framework is related to existing :-
Correct Answer
Business laws , Civil rights , Labour laws
Your Answer
Business laws , Civil rights , Labour laws

True/False
Question
A repeat purchase decision will generally involve changes in product specifications from earlier supplies.
Correct Answer
False
Your Answer
False

True/False
Question
Tariffs & quotas are used by the Govt. to protect indigenous business from foreign competition.
Correct Answer
True
Your Answer
True

True/False
Question
Personal selling is a powerful tool in industrial product selling.
Correct Answer
True
Your Answer
True

True/False
Question
A lower price will stimulate demand for industrial products.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
Assured consistency of the quality can have important benefits for the buyer-user like :-
Correct Answer
Inspection at incoming end , Save inventory cost , Stocking time
Your Answer
Inspection at incoming end , Less headache

Multiple Choice Single Answer
Question
A sales presentation is made to provide prospective customers with sufficient information on the firm's :-
Correct Answer
Product
Your Answer
Product

Select The Blank
Question
The effectiveness of the advertising program is reflected by the ________ in the state of awareness.
Correct Answer
Differences
Your Answer
Differences

Select The Blank
Question
Many food processing firms prefer to take on ________ the processing plants for their use during the peak season.
Correct Answer
Lease
Your Answer
Hire

Multiple Choice Single Answer
Question
The type of demand that characterizes industrial products is called :-
Correct Answer
Derived demand
Your Answer
Derived demand

True/False
Question
Hydraulic equipments are handled by general line industries.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Industrial marketers have a choice of structural arrangement like :-
Correct Answer
Direct to users , Indirect to users , Mixed structure
Your Answer
Direct to users , Indirect to users , Mixed structure

True/False
Question
Bill to vendor' & 'Absorbed by buyer' are the two possibilities under rework.
Correct Answer
True
Your Answer
True

True/False
Question
To get market feedback in industrial marketing marketing research is conducted frequently.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
Fundamental skill requirement for closing a sale is :-
Correct Answer
Application of psychology
Your Answer
Application of psychology

Multiple Choice Multiple Answer
Question
For industrial marketing, type of channel members needed would depend on :-
Correct Answer
Market coverage , Marketing cost , Marketing control
Your Answer
Market coverage , Marketing cost , Marketing control