MKT CHAPTER 7
The three B2B buying situations are _____ buys, _____ rebuys, and straight rebuys
New; Modified
In the fifth stage of the B2B buying process, ______ specification, the firm places its order with its preferred supplier(s)
Order
When a firm places its orders with its preferred supplier(s), it engages in ______
Order specification
______ refers to a set of unspoken guidelines that employees share in various work situations
Organizational culture
Which of the following is NOT a step in the formal business-to-business buying process?
Commercialization
______ -to- _______ marketing refers to the process of buying and selling goods or services to be used in producing other goods and services for consumption by the buying organization and/or for resale by wholesalers and retailers
B2B
When Hertz decides to expand its fleet of rental cars, several companies, as well as consumers, will be involved. Financial services will be provided by banks, and the actual fleet of cars will come from auto manufacturers. Hertz will rent the cars to consumers. In this scenario, which of the following are involved in B2B transactions?
Banks, financing Hertz's car purchases Auto manufacturers, selling cars to Hertz
All the following are involved in business-to-business (B2B) marketing EXCEPT ______
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 ______ by wholesalers and retailers
Consumption; resale
A firm's organizational _____ demonstrates the values, traditions, and customs that moderate its employees' behavior
Culture
_____ reflects the link between consumers' demand for a company's product and the company's purchase of necessary inputs to manufacture or assemble that particular product
Derived demand
Which statement regarding the B2B buying process is true?
In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.
Which of the following are roles within a buying center?
Initiator Decider User
Hospitals, universities, and religious organizations could be considered ______ to which a B2B vendor would sell products
Institutions
Resellers can be thought of as ______
Intermediaries
________ is well known for connecting businesspeople and is the largest network of business professionals.
Burt's Bees buys raw materials in order to make its 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
In B2B markets, ________ are firms that buy and reprocess products and services before selling them again to the next buyer
Manufacturers
Some firms buy raw materials, components, and parts that allow them to make their own goods. These firms are known as _____ or producers
Manufacturers
The majority of B2B buying situations can be described as which three of the following?
Modified rebuys Straight rebuys New buys
The majority of B2B buying situations can be described as which three of the following?
New buys Modified rebuys Straight rebuys
In the B2B buying process, a firm will always recognize a need before engaging in the second phase of the process, ______
Product specification
Once a firm recognizes a need, the firm will consider alternative solutions and develop a list of requirements to be given to potential vendors. What is the name for this 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 the steps within the fourth stage?
Product specification
In the fourth stage of the B2B buying process, ______, vendor negotiation, and selection all occur
Proposal analysis
During the B2B buying process, a firm will typically invite alternative suppliers to bid on supplying the firm's required components for a product. This stage is called the _____ for proposal process
RFP
In the third stage of the B2B buying process, the firm will invite alternative suppliers to bid on supplying the firm's required components. This is known as the ______ process
Request for proposals
______ are the entire category of marketing intermediaries that move the product further downstream in the channel without significantly altering the form
Resellers
A local clinic (institution) in need of more Purell antibacterial soap might purchase it 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 ______
Retailer; manufacturer
Terence realizes that in order to fulfill customers' expectations for his florist business, he must purchase a customized delivery van. This illustrates the requirements for which stage in the B2B process?
Stage 1: Need recognition
What is the purpose of a white paper?
To provide product information in an easy-to-read informational context
True or False: The government is usually one of the largest spenders in the B2B market
True
In the first stage of the B2B buying process, the buying organization recognizes, through either internal or external sources, that it has a(n) ______ need
Unfulfilled
Using metrics to evaluate a supplier of raw materials to a manufacturer is part of which stage of the B2B buying process?
Vendor performance assessment
The final stage of the B2B buying process is also known as _____ performance assessment using metrics
Vendors
A software development firm has built a program that can help businesses more efficiently target advertisements toward those who are most likely to buy. The sales team wants to introduce the product to potential clients but doesn't want to overwhelm them with a pushy sales pitch or overly technical language. To do this, they should create which of the following?
White paper
Autocratic buying centers are characterized by
a single decision maker.
In a(n) ________ buying center, there may be many participants, but one person makes the decision alone.
autocratic
At Cozy Curtains, all members of the team must reach a collective agreement that they can support regarding the purchase of a specific fabric. This is reflective of a(n) ________ buying center.
consensus
At Heavy Steel Manufacturing, Jerome is the one person who is authorized to make a decision, but he gathers input from other departments before doing so. This is reflective of which type of buying center?
consultative
Yuan is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does Yuan play in this situation?
decider
Anka controls the flow of information as well as access to important decision makers in the company. She serves as the ________ in the buying center.
gatekeeper
With its estimated outlay of $582.7 billion in fiscal year 2017, the Department of Defense represents which type of B2B organization?
government
Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of ________ in this situation.
influencer
Professor Leroy wants to use a new textbook in the marketing classes he teaches. He calls Sam, the textbook publishing's sales representative, who suggests three different books to Professor Leroy, pushing one book in particular. In this buying center, Professor Leroy is the ________ and Same is the ________.
initiator; influencer
In terms of business markets, organizations like colleges that provide services to people in their care are classified as
institutions.
In most country markets, the central government tends to be the ______ purchaser of goods and services
largest
When executives confront an unfulfilled business need, they normally turn to ________ prepared by potential B2B marketers.
white papers
College University decides to purchase new helmets for its football team. Although the University is considering some of the same elements as before, such as the look and color of the helmets, it wants them to include the newest technology to keep players safer. This is an example of which type of buying situation?
modified rebuy
The business-to-business buying process is initiated by which step?
need recognition
Tables Galore is looking for a wood supplier that can provide the materials for the manufacturing of its tables. The buying center proceeds through all six steps in the buying process and involves many people in the buying decision. This represents a ________ situation.
new buy
The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a ________ situation.
new buy
Most B2B buying situations can be categorized into three types: straight rebuys, modified rebuys, and
new buys.
A firm's ________ reflects the set of values, traditions, and customs that guide its employees' behavior.
organizational culture
Although she wasn't told this when hired, at her new job Zahra notices that her coworkers eat lunch at their desks while continuing to work and that they dress casually on Fridays. These behaviors are most likely part of the
organizational culture.
The Uptown Performing Arts Studio has had the same sound system for the past 20 years. Concert-goers have begun to complain that the music doesn't sound very good and that in some sections of the theater you cannot hear anything. The owner of the Uptown Studio has decided it is time to replace the old sound system. After recognizing this need, the owner should proceed to which step of the B2B buying process?
product specification
In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.
proposal analysis, vendor negotiation, and selection
Which intermediary is an example of a reseller?
wholesaler
The acronym RFP, when used by those involved in business-to-business buying, stands for
request for proposals.
When 'Office Depot replenishes its supply of printer ink cartridges, it most likely involves a ________ situation.
straight rebuy
Mario is the buyer at Stirred Coffee and Tea. He is often the only member of the buying center involved in the process. This is an example of a
straight rebuy.
What is the final stage in the business-to-business buying process?
vendor performance assessment
In the B2B buying process, ________ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer's needs.
web portals