MKT 300 Ch 7
Many business-to-business firms find it more productive to focus their efforts on ______
key industries or market segments
In most country markets, the central government tends to be the ______ purchaser of goods and services
largest
A _______ rebuy is when the buyer has purchased a similar product in the past but has decided to change some specifications, such as the desired price, quality level, customer service level, or options.
modified
All the following could be considered part of a firm's B2B marketing plan EXCEPT ______
opening a company store to sell direct to consumers
A web ________ is an Internet site whose purpose is to be a starting point for users when they go online.
portal
In a straight rebuy, buyers often skip to which step in the buying process?
Fifth
Which of the following is NOT one of the types of organizations that make up B2B markets?
Franchisers
The ________ center participants range from employees with formal roles in the purchasing decision to design team members who are requesting or specifying a particular item.
buying
A firm's organizational ________ demonstrates the values, traditions, and customs that moderate its employees' behavior.
culture
Jan recently submitted a request for additional printer paper and ink cartridges for the printer in Martin's cubicle. Martin is the only person in the office who uses the printer. For this purchase, Martin could be considered by the buying center to be the _________
user
Like business to-consumer firms, business-to-business firms ultimately seek to create ______ for customers
value
The final stage of the B2B buying process is also known as _________ performance assessment using metrics.
vendor
What is the term used to describe the informal division of a large organization that is responsible for the firm's purchasing decisions?
Buying center
Which of the following statements about the buying strategy for a modified rebuy is true?
Buying center members will spend less time on the process than they would for a new buy.
A consumer goes to Walmart to get her son a birthday gift. This is an example of a business-to-______ transaction.
consumer
In a large organization where there are many purchasing requirements, it is the _________ who will have the authority of selecting a final supplier.
decider
An example of a firm's ______ marketing plan would be to create a special discount program for the retailers who sell the firm's products.
B2B
When Hertz Rent a Car decides to expand its fleet, 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 marketing?
Banks, financing Hertz's car purchases Auto manufacturers, selling cars to Hertz
The person who may agree with the initiator and convince others in the firm to agree with buying a particular item is called a(n) ______
influencer
Developing a list of issues that the firm considers important
order specification
When a firm gives an order to a supplier, it contains a detailed description of the goods requested along with other important details. This process is known as ______.
order specification
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 or services to meet the firm's product specifications.
vendors
Match each buying role with the correct description.
1) Initiator: Person who first suggests buying the product 2) Influencer: Person whose views persuade others 3) Decider: Person who ultimately determines the buying decision 4) Buyer: Person who handles paperwork of purchase 5) User: Person who consumes or uses the product 6) Gatekeeper: Person who controls information or access
Place the steps of the B2B buying process in order by placing the FIRST step at the top of the list and the LAST step at the bottom of the list.
1. Need Recognition 2. Product Specification 3. RFP process 4. Proposal analysis and supplier selection 5. Order Specification 6. Vendor/performance assessment using metrics
What is the first step a firm should take in evaluating vendor performance using metrics?
Developing a list of issues that the firm considers important
In most large organizations, buying decisions are made exclusively by members of the purchasing or procurement department, with limited or no input from other employees.
False
The social network ______.com is mainly used for professional networking in B2B markets.
In B2B marketing, companies often communicate via specialized web portals. Which of the following are among the advantages of using these portals?
Simplified negotiations Streamlined procurement processes Reduced paperwork
The majority of B2B buying situations can be described as which three of the following?
New buys Straight rebuys Modified rebuys
______ 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
Which are the roles within a buying center?
1. influencer 2. decider 3. buyer 4. user 5. gatekeeper 6. initiator
When calculating an overall performance score for vendors, firms should calculate the sum of the vendor's performance score on various issues multiplied by which metric?
An importance score for each issue
What are general types of organizational buying cultures?
Autocratic: Where one person makes the decisions alone; A single decision maker acting alone Democratic: Requests suggestions from the team and then bases decisions on the majority; The majority vote share Consultative: Decider/ buyer seeks input from trusted colleagues before purchase; A single decision maker consulting with others Concensus: A buying center that purchases equipment based on a team's collective agreement; Total agreement of the group
Each role within the buying center is different. Which role makes the final determination as to which product is purchased from which supplier, if purchased at all?
Decider
Which of the following details typically appear along with a description of the goods in an order specification?
Delivery dates Prices Penalties for noncompliance
After a car accident, you find an auto repair shop and submit the bill to your insurance company. The insurer reviews the bill and decides that it will only reimburse you for half of the cost of repairs because the mechanic used expensive brand-name parts instead of cheaper generic replacements. In this scenario, what buying role is the insurance company playing?
Gatekeeper
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
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 stage 4 of the buying process, firms will often negotiate with suppliers over the key terms of the sale. Which of the following issues are frequently discussed within these negotiations?
Quality Financing Price
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
______ are the entire category of marketing intermediaries that move the product further downstream in the channel without significantly altering the form.
Resellers
Terence recognizes that in order to fulfill customers' expectations for his florist business, he needs a customized delivery van. This illustrates the requirements for which stage in the B2B process?
Stage 1: Need recognition
Which of the following are typical in a new buy situation?
The buying center will proceed through all six steps in the buying process. Several members of the buying center will be involved.
Which of the following would be considered appropriate methods for a firm to use when engaging in the request for proposals (RFP) process?
The buying firm posting its RFP needs on its own website Contacting potential suppliers directly
When a doctor schedules you for a surgery and requests that the hospital have specific instruments and supplies for your procedure, who initiates the buying process?
The doctor
Which of the following buying center team members plays the role of the gatekeeper?
The secretary who schedules meetings between sales representatives and upper management
What is the purpose of a white paper?
To provide product information in an easy-to-read informational context
Which social network is commonly used by B2B marketers to send short messages to other businesses at any time, as often as they want?
Cindi suffers from severe allergies and visits her doctor to try and find a solution. The doctor prescribes a new medication, and after taking it for several days, Cindi finally feels some relief from her symptoms. In this scenario, which role in the buying process does Cindi play?
User
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
What factor most commonly influences a firm's decision whether to negotiate with several vendors at once?
Whether the product or service represents a key component or aspect of the business
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
A firm selling its products to consumers is known as business-to-consumer marketing. However, when a firm buys raw materials from another firm to make its products, this is an example of ______ marketing.
business-to-business
You work as the inventory manager at a golf pro shop. The club pro has reviewed and approved a new golf club collection, and you proceed to complete the purchase by negotiating a price and finalizing paperwork with the manufacturer. In this scenario, you are in the role of ______
buyer
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
Prior to finalizing a purchase, the procurement department may consult ______ to ensure that the purchase being made is suitable for the function it will have in the company.
employees who use the materials design team members
Within a typical buying center, the ______ is the person who FIRST suggests buying a particular product or service.
initiator
Hospitals, universities and religious organizations could be considered _______ to which a B2B vendor would sell products.
institutions
Resellers can be thought of as ______
intermediaries
Some firms buy raw materials, components, and parts that allow them to make their own goods. These firms are known as ________ or producers.
manufacturers
There are various types of buying situations for different marketing and selling strategies. The most complex and difficult is the _______ buy situation.
new
In the fifth stage of the B2B buying process, ______ specification, the firm places its order with its preferred supplier(s).
order
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
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
In the fourth stage of the B2B buying process, _____, vendor negotiation, and selection all occur.
proposal analysis
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 process is known as the ______.
request for proposals
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 ______
retailer; manufacturer
When the office supplies arrive at your office and the order consists of the same units of products that have been purchased in the previous quarter, this is referred to as a ______
straight rebuy
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