Ch 7 - Business Marketing Quiz

What does "derived demand" refer to in business marketing?

Which of the following is an example of a business product?

The North American Industry Classification System (NAICS) is used for:

• Classifying business establishments for statistical purposes

• Providing tax guidelines for businesses

• Regulating trade between North American countries

• Setting environmental standards for industries

Business markets are generally more geographically concentrated than consumer markets.

• True

• False

Content marketing focuses on creating and distributing irrelevant but highly engaging content. (It focuses on relevant content.)

• True

• False

Strategic alliances can only exist between manufacturers and suppliers. (They can exist between different types of firms.)

• True

• False

Business buying behavior involves fewer people than consumer buying behavior.

• True

• False

Identify the four major categories of business market customers.

• Producers, Resellers, Governments, Institutions

• Consumers, Retailers, Wholesalers, Distributors

• Manufacturers, Suppliers, Vendors, Clients

• Buyers, Sellers, Traders, Merchants

How is business demand typically different from consumer demand?

• Business demand is more volatile.

• Consumer demand is more predictable.

• Business demand is less price-sensitive.

• Consumer demand is driven by individual preferences.

What are the three main metrics used in measuring the effectiveness of B-to-B social media marketing?

• Engagement, Reach, Conversion

• Likes, Shares, Comments

• Followers, Mentions, Impressions

• Clicks, Views, Bounce Rate