SOLVED

71) Which of the following is an advantage of using single sourcing? A) Suppliers are more likely to remain cost-competitive. B) Buyers are less reliant on one firm to deliver the needed goods without interruption. C) The buyer and seller agree to be each other’s customers. D) Consistency of quality of materials input into the product process is greater. E) Buyers have other suppliers to fall back on if one supplier fails. 72) A vehicle manufacturer often won’t buy a new product from a supplier unless the supplier’s competitors are also capable of making the same item. The manufacturer is using ________. A) single sourcing B) crowdsourcing C) multiple sourcing D) customer reference programming E) reciprocity 73) Sometimes supplier selection is based on ________, which means a buyer and a seller agree to purchase each other’s goods and services even though the terms of the sales may not be the best available. A) requisition B) reciprocity C) customer references D) outsourcing E) reverse marketing 74) ________ occurs when firms obtain outside vendors to provide goods or services that might otherwise be supplied in-house. A) Outsourcing B) Reverse marketing C) Crowdsourcing D) Multiple sourcing E) Insourcing 75) ________ is a business practice in which a buyer shapes a supplier’s products and operations to satisfy its needs. A) Reciprocity B) Functionalization C) Reverse marketing D) Bottom-up marketing E) Crowdsourcing 76) Which of the following is NOT an example of business-to-business marketing? A) Scott Sign Systems sells interior signs to an Alabama resort. B) A municipal government buys chemicals for its city swimming pools. C) Sue buys a gift for her mother. D) A Canadian software company buys airline tickets to send a group of salespeople to make a presentation to a heavy equipment manufacturer in Japan. E) Airmark sells a vinyl printing press to a manufacturer of plastic bags. 77) Many businesses today are abandoning traditional business attire and allowing their employees to come to work in business casual that typically does not include ties, cufflinks, or business suits. There has been a decrease in the sale of silk ties as a result of this cultural trend. A decrease in consumer demand for silk ties has led to a decrease in demand for silk because the demand for silk is ________. A) independent B) micro-dependent C) derived D) inelastic E) fixed 78) A sign company creates and prints the full-sized vinyl sheets that make it quick and easy to change the promotion on a billboard. If a change in the price of petroleum (a necessary ingredient for the production of plastic) forced manufacturers of vinyl sheets to increase their price by 20 percent, the company would still need to buy the same amount to meet its customers’ needs. Therefore, demand for vinyl sheets by companies that use this product to create billboard ads is ________. A) elastic B) joint C) independent D) inelastic E) fixed 79) A Miami restaurant has created atmosphere through its subtle use of blue and green lighting, ceiling fans over each table, and frozen drinks. If its electrical energy supplier raises its prices, the restaurant will most likely ________. A) continue its present operation because it has an elastic demand for electricity B) ask other Miami restaurants to create a derived demand for cheaper electricity C) decide to find other ways to use electricity D) continue its present operation because it has an inelastic demand for electricity E) remove its lighting, turn off its fans, and economize on its use of electricity 80) A rifle manufacturer needs muzzles, trigger mechanisms, and wooden gunstocks to produce rifles. Without these items the manufacturer cannot produce its rifles. It will reduce its demand for trigger mechanisms and gunstocks if suppliers are unable to sell the muzzles it needs. This is an example of ________ demand. A) reverse B) synergistic C) joint D) reciprocal E) inelastic