BNAD 303 Chapter 6

Which of the following is a​ business-to-business market​ transaction? A. A grocery store buying cereal from​ Kellogg's B. The U.S. government buying supplies for military personnel C. A family vacationing at Disneyland D. A person buying his or her weekly groceries E. A hospital buying medical supplies

A grocery store buying cereal from​ Kellogg's

In which type of buying situation will a buyer usually go through all the stages of the business buying​ process? A. A modified rebuy B. A straight rebuy C. A new​ task-buying situation D. The purchase of raw materials E. The purchase of a business service

A new​ task-buying situation

Which of the following statements regarding the business market is​ correct? A. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. B. Business buying decisions are less complex than consumer buying decisions. C. Business marketers normally deal with far fewer but far larger buyers than the consumer marketer does. D. The business market has more buyers than the consumer market. E. The business market is not as large as the consumer market in terms of dollars spent and items purchased.

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

​__________ have rapidly become the new platforms for engaging business customers. A. Traditional and antiquated marketing B. ​Cold-call and phone marketing C. ​Door-to-door and​ in-person marketing D. Social media and digital marketing E. Consumer and employee marketing

Social media and digital marketing

Which of the following is an example of an institutional​ buyer? A. Walmart B. Apple C. The U.S. Navy D. Tenet Healthcare E. Proctor​ & Gamble

Tenet Healthcare

Which of the following statements regarding the U.S. government market is​ correct? A. Government buying is not scrutinized by outside publics. B. Government buying is based solely on economic criteria. C. Selling to the U.S. government requires no specific knowledge of that market. D. The U.S. government is the largest buyer of goods and services in the world. E. The U.S. government market is not affected by environmental factors.

The U.S. government is the largest buyer of goods and services in the world.

Which of the following statements is not a difference between business markets and consumer​ markets? A. Buyers face more complex buying decisions. B. Business demand is a derived demand. C. The buying decision involves more professionals. D. The market is very small and limited. E. The buying process is more formalized.

The market is very small and limited

The buying center of an organization consists of​ ________. A. the choice of suppliers B. the buying decision process C. the entire buying organization D. economic and technical factors E. all individuals and units that play a role in the buying purchase decision process

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

To do​ e-procurement, companies can conduct ​__________​, in which they put their purchasing requests online and invite suppliers to bid for the business. A. intranet link B. extranet link C. company buying site D. trading exchanges E. reverse auctions

reverse auctions

A business buying situation in which the buyer reorders something without any modifications is known as a​ __________ A. modified rebuy B. systems solution C. new task D. buying center E. straight rebuy

straight rebuy

The U.S. government normally awards contracts to​ ________. A. the supplier with the best reputation B. foreign suppliers C. the supplier with the highest quality item D. the lowest bidder E. the highest bidder

the lowest bidder

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 modified rebuy C. A new task situation D. A consumer transaction E. A straight rebuy

A straight rebuy

What is the nature of demand in business​ markets? A. Demand in business markets is elastic. B. Demand in business markets fluctuates less than in consumer markets. C. Demand in business markets does not fluctuate. D. Changes in consumer demand will cause changes in business demand. E. Business market demand is independent of consumer market demand.

Changes in consumer demand will cause changes in business demand

Question Help 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. User B. Buyer C. Influencer D. Gatekeeper E. Decider

Influencer

​__________ are members of the buying center who help define specifications and provide information for evaluating alternatives. A. Users B. Gatekeepers C. Deciders D. Buyers E. Influencers

Influencers

Which of the following statements regarding the institutional market is​ correct? A. Institutional markets are characterized by large budgets. B. Institutional markets are relatively small. C. Institutional buyers always seek to minimize costs. D. Institutional markets are characterized by low budgets and captive patrons. E. Marketers do not recognize the special characteristics and needs of institutional buyers.

Institutional markets are characterized by low budgets and captive patrons.

​__________ includes the final order with the chosen supplier or suppliers and lists other required items. A. Supplier search B. Performance review C. ​Vendor-managed inventory D. Product specification E. ​Order-routine specification

Order-routine specification

​__________ is the stage of the​ business-buying decision process that occurs after a problem is recognized and a general need description is developed. A. Need recognition B. Supplier selection C. Product specification D. Proposal solicitation E. Performance review

Product specification

One problem with​ business-to-business e-procurement is that it​ ________. A. increases transaction costs B. increases paperwork requirements C. can erode​ long-standing customer-supplier relationships D. reduces purchasing efficiency E. increases the time between order and delivery

can erode​ long-standing customer-supplier relationships

Institutional markets are​ __________. A. affected by organizational factors B. subject to frequent shifts in procurement personnel C. characterized by low​ budget, captive patrons D. characterized by considerable documentation E. carefully watched by outside publics

characterized by low​ budget, captive patrons

​Business-to-business marketers are now using a wide range of digital and social media marketing approaches to​ __________. A. engage business customers and manage customer relationships B. attract new consumer markets C. hire new employees D. promote the use of social media E. search for better products

engage business customers and manage customer relationships

In​ B-to-B marketing, digital and social media play an important role in​ __________. A. engaging business buyers B. deterring consumers C. proposing new businesses D. deterring partnerships among businesses E. attracting consumers

engaging business buyers

Hospital purchasing agents should prefer​ __________. A. to give contracts to the lowest bidder B. ​open-bid purchasing C. considerable documentation from suppliers D. a negotiated contract E. food vendors with low prices and quality products

food vendors with low prices and quality products

Developing product specifications follows​ __________ in the business buyer decision process. A. general need description B. proposal solicitation C. performance review D. supplier selection E. supplier search

general need description

​Motives, perceptions and preferences are​ _______ factors than can influence the​ business-buying decision process. A. economic B. interpersonal C. individual D. cultural E. organizational

individual

Business markets have demand that​ __________. A. does not change for products B. does not change for services C. is inelastic D. is rigid at all times E. is elastic

is inelastic

The rapidly expanding use of​ e-procurement in​ business-to-business deals provides several​ advantages; however, one of the disadvantages is​ __________. A. it helps finds better supply sources B. it eliminates paperwork C. it pits suppliers against one another D. it reduces time between order and delivery E. it shaves transaction costs

it pits suppliers against one another

Items such as technical​ specifications, quantities, delivery​ times, return​ policies, and warranties are included in the​ ________. A. proposal solicitation B. supplier selection C. product specification D. ​order-routine specification E. general need description

order-routine specification

How is the​ business-buying decision process different from the​ consumer-buying decision​ process? A. The​ business-buying decision process is shorter than the​ consumer-buying decision process. B. ​Business-to-business marketers keep customers by meeting current needs and by partnering with them to help solve their problems. C. Business buyers face less complex buying decisions than consumers do. D. ​Business-to-business marketers do not work as closely with their customers as consumer marketers. E. ​Business-buying decisions are less formal.

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

When using digital​ marketing, B-to-B marketers are targeting​ __________ that affect buying decisions for​ __________. A. ​individuals; social media B. ​consumers; businesses C. ​businesses; individuals D. ​individuals; businesses E. ​businesses; social media

​individuals; businesses