MIDTERM FOR INDUSTRIAL MARKETING

What kind of demand in industrial marketing, when one product requires the existence of other product to be useful.

• Derived Demand.

• Cross Elasticity of Demand

• Joint Demand

• Elastic demand

It is the single most important force in the marketing of industrial goods and services.

• Cross Elasticity of Demand

• Derived Demand

• Joint Demand

• Inelastic demand

It is the responsiveness of the sales of one product to a price change of other.

• Elastic Demand

• Derived demand

• Joint demand

• Cross elasticity of demand

Effective marketing programs thus depend upon a thorough understanding of how marketing strategy should differ with the type of organization being targeted and the products being sold.

• True

• False

An exchange process wherein the ease of exchange depends upon the ability of the seller to identify the buyer’s needs and the product’s potential to satisfy those needs.

• Information Exchange

• Product Exchange

• Financial Exchange

• Social Exchange

An exchange process that is important in such areas as reducing uncertainty between buyer and seller, avoiding short-term difficulties, and maintaining the exchange relationship over a lengthy transaction period.

• Financial Exchange

• Information Exchange

• Product Exchange

• Social Exchange

An exchange process that often consists of answering technical, economic, and organizational questions regarding pre- and posts ale maintenance and servicing.

• Product Exchange

• Information Exchange

• Social Exchange

• Financial Exchange

An exchange process that may involve such considerations as the granting of credit or the need to exchange money from one currency from another when dealing with foreign buyers.

• Product Exchange

• Information Exchange

• Financial Exchange

• Social Exchange

Too much manufacturing capacity in some fields of production has forced companies to sell their surplus products on world markets at prices higher than normal.

• True

• False

Industrial marketing is characterized by its ______ ______ _____ of the discerning buyers, long manufacturing cycle, high value of purchase of relatively few customers, durability and service requirements of industrial products.