BUS 312 CH6 quiz review

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

A new task buying situation

Which of the following statements regarding the business market is​ correct? A. Business buying decisions are less complex than consumer buying decisions. B. The business market is not as large as the consumer market in terms of dollars spent and items purchased. C. The business market has more buyers than the consumer market. D. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. E. Many sets of business purchases are made for one set of consumer purchases.

Many sets of business purchases are made for one set of consumer purchases.

Which of the following correctly defines the institutional​ market? A. Manufacturers of consumer goods and services B. Resellers such as retailers and wholesalers C. The buying centers within organizations that make buying decisions D. Organizations that provide goods and services to people in their care E. All purchases made by the government

Organizations that provide goods and services to people in their care

Product value analysis is an approach to cost reduction that is used at which stage of the buying decision​ process? A. ​Order-routine specification B. Product specification C. Proposal solicitation D. Performance review E. Problem recognition

Product specification

What are the two major components of a​ B-to-B marketer's buying​ activity? A. The buying center and organizational members who will use the product or service B. Pricing and promotion C. The buying center and the buying decision process D. The buying decision process and systems selling E. The buying center and consumer demand

The buying center and the buying decision process

One form of​ e-procurement is​ __________ in which companies put their purchasing requests online and invite bids. A. extranet links B. trading exchanges C. company buying sites D. reverse auctions E. systems selling

reverse auctions

in the​ B-to-B market, one strategy is to offer a complete solution to a​ buyer's problems. This is called​ __________. A. supplier development B. a​ multi-seller approach C. a modified rebuy D. a straight rebuy E. systems selling

systems selling

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

the lowest bidder

​Business-to-business marketing involves buying and selling goods or services by which of the​ following? A. ​Manufacturers, producers,​ retailers, consumers B. ​Manufacturers, producers,​ retailers, wholesalers C. ​Consumers, manufacturers,​ resellers, suppliers D. ​Manufacturers, retailers,​ consumers, wholesalers E. ​Manufacturers, producers,​ retailers, the government

​Manufacturers, producers,​ retailers, wholesalers

For Super Bowl Sunday a pizzeria simply increases their order of supplies from their existing suppliers. Which type of buying situation does this​ represent? A. Systems selling B. A new task situation C. A straight rebuy D. A consumer transaction E. A modified rebuy

A modified rebuy

Which of the following statements regarding the institutional market is​ correct? A. Institutional buyers have the same characteristics and needs as business buyers. B. Institutional markets are characterized by large budgets. C. Institutional markets are relatively small. D. Institutional buyers always seek to minimize costs. E. Institutional markets have captive patrons.

Institutional markets have captive patrons.

The first stage of the business buying decision process is problem recognition. What is the second​ stage? A. Supplier selection B. General need description C. Proposal solicitation D. Supplier search E. Product specification

General need description

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

A grocery store buying cereal from​ Kellogg's

Which of the following statements is correct regarding major influences on business buyer​ behavior? A. Emotion plays an important role in business buying decisions. B. Culture is more important to domestic​ B-to-B marketers than to global​ B-to-B marketers. C. Marketers in the​ B-to-B market are not concerned with competitive developments in their environment. D. Interpersonal factors have little influence on business buyer behavior. E. Economic factors have little influence on business buying decisions.

Emotion plays an important role in business buying decisions.

A University is buying new overhead projectors for its classrooms. 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. Decider B. Gatekeeper C. User D. Influencer E. Buyer

Influencer

Which of the following statements about the use of digital and social media for​ B-to-B marketing is​ correct? A. It allows businesses to target individuals within a business who affect buying decisions. B. It reduces customer engagement and interaction. C. It is a very important medium but its use is currently limited to a small number of industries. D. It is growing slowly because business buyers are only occasionally connected to digital devices. E. It is growing rapidly but offers limited ways to engage customers compared to​ face-to-face selling.

It allows businesses to target individuals within a business who affect buying decisions.

Which stage of the business buying decision process occurs between supplier search and supplier​ selection? A. General need description B. Performance review C. Product specification D. Proposal solicitation E. ​Order-routine specification

Proposal solicitation

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

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

The​ __________ consists of all the people who are involved in an organizational buying decision. A. buying network B. purchasing unit C. purchasing department D. buying center E. purchasing network

buying center

According to the​ text, one result of technology is that the new space for engaging business customers is​ __________. A. trading sites B. trade shows C. extranet links D. ​face-to-face sales calls E. digital and social media

digital and social media

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

can erode​ long-standing customer dash-supplier relationships

Unlike marketers in the consumer​ market, business-to-business marketers​ __________. A. are not concerned with creating customer value B. use a less formalized buying process C. respond to elastic demand for their goods D. deal with far fewer but far larger buyers .E. can ignore customer needs

deal with far fewer but far larger buyers

​Business-to-business marketers will sometimes promote their goods directly to consumers. This is because business demand is​ __________. A. the same as consumer demand B. constant C. elastic D. unrelated to demand for consumer goods E. derived

derived

​Age, personality, buying​ style, and job position are​ __________ factors that can influence the business buying decision process. A. interpersonal B. cultural C. economic D. individual E. organizational

individual

Items such as technical​ specifications, quantity, delivery​ time, return​ policies, and warranties are included in which stage of the buying decision​ process? A. Product specification B. Supplier selection C. ​Order-routine specification D. General need description E. Proposal solicitation

​Order-routine specification