[MKT 201] Chapter 6 - DSM

How is the business-buying decision process different from the consumer-buying decision process? a) Business-buying decisions are less formal. b) Business-to-business marketers keep customers by meeting current needs and by partnering with them to help solve their problems. c) Business-to-business marketers do not work as closely with their customers as consumer marketers. d) The business-buying decision process is shorter than the consumer-buying decision process. e) Business buyers face less complex buying decisions than consumers do.

b) Business-to-business marketers keep customers by meeting current needs and by partnering with them to help solve their problems.

What is the nature of demand in business markets? a) Demand in business markets fluctuates less than in consumer markets. b) Changes in consumer demand will cause changes in business demand. c) Demand in business markets does not fluctuate. d) Business market demand is independent of consumer market demand. e) Demand in business markets is elastic.

b) Changes in consumer demand will cause changes in business demand.

Which of the following statements regarding the institutional market is correct? a) Institutional markets are relatively small. b) Institutional markets are characterized by low budgets and captive patrons. c) Marketers do not recognize the special characteristics and needs of institutional buyers. d) Institutional buyers always seek to minimize costs. e) Institutional markets are characterized by large budgets.

b) Institutional markets are characterized by low budgets and captive patrons.

In which type of buying situation will a buyer usually go through all the stages of the business buying process? a) A straight rebuy b) A new task-buying situation c) The purchase of raw materials d) The purchase of a business service e) A modified rebuy

b) A new task-buying situation

Which of the following statements regarding the business market is correct? a) The business market has more buyers than the consumer market. b) Business marketers normally deal with far fewer but far larger buyers than the consumer marketer does. c) In the business market buying process, buyers and sellers are less dependent on each other then in the consumer market. d) Business buying decisions are less complex then consumer buying decisions. e) The business market is not as large as the consumer market in terms of dollars spend and items purchased.

b) Business marketers normally deal with far fewer but far larger buyers than the consumer marketer does.

The U.S. government normally awards contracts to __________. a) the highest bidder b) the lowest bidder c) the supplier with the highest quality item d) the supplier with the best reputation e) foreign suppliers

b) the lowest bidder

A university is buying notebook computers for its faculty. 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? a) Gatekeeper b) Decider c) Influencer d) User e) Buyer

c) Influencer

__________ is the stage of the business-buying decision process that occurs after a problem is recognized and a general need description is developed. a) Proposal solicitation b) Need recognition c) Product specification d) Supplier selection e) Performance review

c) Product specification

Which of the following is an example of an institutional buyer? a) The U.S. Navy b) Walmart c) Tenet Healthcare d) Apple e) Proctor & Gamble

c) Tenet Healthcare

The buying center of an organization consists of __________. a) economic and technical factors b) the entire buying organization c) all individuals and units that play a role in the buying purchase decision process d) the choice of suppliers e) the buying decision process

c) all individuals and units that play a role in the buying purchase decision process

Every Monday a pizzeria places the same order with its supplier for pepperoni. Which type of buying situation does this represent? a) Systems selling b) A new task situation c) A consumer transaction d) A straight rebuy e) A modified rebuy

d) A straight rebuy

__________ have rapidly become the new platforms for engaging business customers. a) Consumer and employee marketing b) Traditional and antiquated marketing c) Door-to-door and in-person marketing d) Social media and digital marketing e) Cold-call and phone marketing

d) Social media and digital marketing

Business-to-business marketers are now using a wide rand of digital and social media marketing approaches to __________. a) search for better products b) hire new employees c) promote the use of social media d) engage business customers and manage customer relationships e) attract new consumer markets

d) engage business customers and manage customer relationships

Items such as technical specifications, quantities, delivery times, return policies, and warranties are included in the __________. a) supplier selection b) product specification c) proposal solicitation d) order-routine specification e) general need description

d) order-routine specification

When using digital marketing, B-to-B marketers are targeting __________ that affect the buying decisions for __________. a) businesses; social media b) businesses; individuals c) consumers; businesses d) individuals; social media e) individuals; businesses

e) individuals; businesses