Quiz 5 Questions

What is true about buying centers

the buying center is not a fixed and formal identified unit within a buying organization

________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers.

Systems selling

a company regularly purchases cleaning supplied from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of what kind of rebuy

straight rebuy

When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in ________ between business and consumer markets.

market structure

during which state of the business decision is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively?

product specification

companies post purchase requests online and invite suppliers to bid for their business is an example of what

reverse auctions

What is the final stage of the business buying process

supplier performance review

Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________.

derived demand

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as an ____

modified rebuy

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process.

proposal solicitation