Chapter 7 Marketing Questions
order specification
firm places the order, the exact details of the purchase are specified, all terms are detailed including payment.
Burt's Bees buys raw materials in order to provide its finished earth friendly products, such as perfumes, lip balms, and hair products. which of the following business markets best describes Burt's Bees?
manufacturer or producer
vendor performance assessment using metrics
metrics such as customer service, issue resolution, delivery, and quality
while B2B buying process differs from B2C buying process, they both start in the same way. Which way?
need recognition
the most complex and difficult of the buying situations is the _____ buying situation.
new
the three B2B buying situations are _____ buys, _____ rebuys, and straight rebuys.
new; modified
Proposal analysis, vendor negotiation and selection
often several vendors are negotiating against each other. considerations other than price play a role in final selection.
all of the following could be considered part of a firms B2B marketing plan except:
opening a company store to sell direct to consumers things that can be considered part of a B2B marketing plan include: 1. buying print advertisements in industry related magazines 2. creating an online campaign 3. presenting at trade shows
democratic, autocratic, consultative, and consensus are different types of:
organizational buying cultures
_____ refers to a set of unspoken guidelines that employees' share in various work situations.
organizational culture
user
person who consumes or uses the product
gatekeeper
person who controls information or access
buyer
person who handles the paperwork of the purchase
decider
person who ultimately determines the buying decision
influencer
person whose views persuade others
a company will develop potential _____ specifications that suppliers use to develop their proposals.
product
in the B2B buying process, a firm will always recognize a need before engaging in the second phase of the process, the _____ _____ stage of the process.
product specification
the fourth stage of the B2B buying process has a number of mini-steps within itself. which of the following is not one of those steps? 1. product specification 2. proposal analysis 3. vendor negotiation 4. selection
product specification
RFP Process
request for proposal
in the third stage of the B2B buying process, the firm will invite alternative suppliers to bid on supplying the firms required components. This stage is known as the _____ for _____ process.
request; proposal
need recognition
can be generated internally or externally. sources for recognized new needs: - suppliers - salespeople - competitors
which is not a step in the formal B2B buying process? commercialization RFP process product specialization need recognition
commercialization
B2B firms find it more productive to focus their efforts on key industries or market segments rather than on ultimate _____.
consumers
B2B marketing involves the process of buying and selling goods or services to be used in the production of other goods and services, for _______ by the buying organization, and/or for _______ by wholesalers and retailers.
consumption; resale
a firm's organizational _____ reflects the set of values, traditions, and customs that guide its employees' behavior.
culture
a local clinic (institution) in need of more Purell antibacterial soap might purchase from Target, which is a _____ of soap, whereas a local high school (institution) in need of more textbooks might buy some from McGraw Hill, which is a _____.
reseller; manufacturer
B2B markets include:
resellers, manufacturers, government, and institutions
in a large organization where there are many purchasing requirements, it is the _____ who will have the authority of selecting a final supplier.
decider
_____ demand is when a consumer's demand for a firm's product affects the manufacturer's purchase of inputs needed to make the product.
derived
institutions
schools, museums, and religious organizations
government
the US government spends about 2.1 TRILLION procuring goods. State and local governments also make significant purchases. Firms specialize in selling to the government.
initiator
the person who first suggests buying the product
manufacturers
they buy raw materials, components and parts and manufacture their own goods.
product specifications
used by suppliers to develop proposals, can be done collaboratively with suppliers.
in the third stage of the B2B buying process, a firm will administer a request for proposals (RFP) in which _____ will bid on providing products and services to meet the firm's product specifications.
vendors
organizational culture
- democratic - consultative - consensus - autocratic
the buying center
- influencer - decider - buyer - user - gatekeeper -initiator
buying situation
- new buy - straight rebuy - modified rebuy
Firms such as Toyota use formalized assessments of vendors' performances in B2B transactions. Identify which steps should be taken by Toyota.
-Buying team creates a list of issues important in the evaluation of a vendor. - determines how important each of these issues are. - actually assigns a value to each of these issues. -gets the overall performance by multiplying together the scores for the vendor across every issue.
B2B buying process
1. need recognition 2. product specification 3. RFP process 4. proposal analysis and supplier selection 5. order specification 6. vendor/ performance assessment using metrics
a _____ buying center is where one person makes the decisions alone.
autocratic
within a typical buying center, who is the person who controls information, access, or both to the decision makers and influencers?
gatekeeper
you have been selected to review a product to be sold in your store. you approve the product specifications and purchase agreements and pass that info along with your recommendations. you are probably in the role of:
influencer
resellers can be thought of as _____.
intermediaries