BUS 312 Chapter 6 Quiz
Which of the following is a business-to-business market transaction?
A grocery store buying cereal from Kellogg's
Business-to-business marketing involves buying and selling goods or services by which of the following?
Manufacturers, producers, retailers, wholesalers
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases
Product value analysis is an approach to cost reduction that is used at which stage of the buying decision process?
Product specification
Which stage of the business buying decision process occurs between supplier search and supplier selection?
Proposal solicitation
Which of the following statements regarding the U.S. government market is correct?
The U.S. government is the largest buyer of goods and services in the world.
What are the two major components of a B-to-B marketer's buying activity?
The buying center and the buying decision process
One form of e-procurement is __________ in which companies put their purchasing requests online and invite bids.
reverse auctions
In the B-to-B market, one strategy is to offer a complete solution to a buyer's problems. This is called __________.
systems selling
The U.S. government normally awards contracts to __________.
the lowest bidder
Items such as technical specifications, quantity, delivery time, return policies, and warranties are included in which stage of the buying decision process?
Order-routine specification
For Super Bowl Sunday a pizzeria simply increases their order of supplies from their existing suppliers. Which type of buying situation does this represent?
A modified rebuy
In which type of buying situation will a buyer usually go through all eight stages of the business buying process?
A new task buying situation
A University is buying new overhead projectors for its classrooms. The University's Information Technology Department has been asked to provide specifications and recommendations for this purchase. The IT Department is playing which role in the University's buying center?
Influencer
Which of the following correctly defines the institutional market?
Organizations that provide goods and services to people in their care
The __________ consists of all the people who are involved in an organizational buying decision.
buying center
One problem with business-to-business e-procurement is that it __________.
can erode long-standing customer-supplier relationships
Unlike marketers in the consumer market, business-to-business marketers __________
deal with far fewer but far larger buyers
Business-to-business marketers will sometimes promote their goods directly to consumers. This is because business demand is __________.
derived
According to the text, one result of technology is that the new space for engaging business customers is __________.
digital and social media
Which of the following statements regarding the institutional market is correct?
Institutional markets have captive patrons
Which of the following statements about the use of digital and social media for B-to-B marketing is correct?
It allows business to target individuals within a business who affect buying decisions.
Which of the following statements is correct regarding major influences on business buyer behavior?
Emotion plays an important role in business buying decisions
The first stage of the business buying decision process is problem recognition. What is the second stage?
General need description
Age, personality, buying style, and job position are __________ factors that can influence the business buying decision process.
individual