marketing chapter 6
Developing product specifications follows __________ in the business buyer decision process.
a general need description
Which of the following is a business-to-business market transaction?
a grocery store buying cereal from kelloggs
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 modified rebuy
In which type of buying situation will a buyer usually go through all eight stages of the business buying process?
a new task buying situation
Product value analysis is an approach to cost reduction that is used at which stage of the buying decision process?
product specification
To do e-procurement, companies can conduct __________, in which they put their purchasing requests online and invite suppliers to bid for the business.
reverse auctions
Proposal solicitation
stage of the business buying process, the buyer invites qualified suppliers to submit proposals.
A business buying situation in which the buyer reorders something without any modifications is known as a __________
straight rebuy
In the B-to-B market, one strategy is to offer a complete solution to a buyer's problems. This is called __________.
system selling
What are the two major components of a B-to-B marketer's buying activity?
the buying center and the buying decisions process
The U.S. government normally awards contracts to __________.
the lowest bidder
Which of the following statements is not a difference between business markets and consumer markets?
the market is very small and limited
Supplier Selection
the stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers
Which of the following statements regarding the U.S. government market is correct?
the us government is the largest buyer of goods and services in the world
Age, personality, buying style, and job position are __________ factors that can influence the business buying decision process.
individual
Which of the following statements regarding the institutional market is correct?
institutional markets have captive patrons
Which of the following statements regarding the business market is correct?
business marketers normally deal with far fewer but larger buyers than the consumer market does
The __________ consists of all the people who are involved in an organizational buying decision.
buying center
One problem with business-to-business e-procurement is that it __________.
can erode long standing customer dash suppliers relationships
Institutional markets are __________.
characterized by low budget, captive patrons
Unlike marketers in the consumer market, business-to-business marketers __________.
deal with far fewer but larger buyers
Business-to-business marketers will sometimes promote their goods directly to consumers. This is because business demand is __________.
derived
According to the text, one result of technology is that the new space for engaging business customers is __________.
digital and social media
Which of the following statements is correct regarding major influences on business buyer behavior?
emotion plays an important role in business buying decisons
Hospital purchasing agents should prefer __________.
food vendors with low prices and quality products
The first stage of the business buying decision process is problem recognition. What is the second stage?
general need description
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?
influencer
__________ are members of the buying center who help define specifications and provide information for evaluating alternatives.
influencers
Business markets have demand that __________.
is inelastic
Which of the following statements about the use of digital and social media for B-to-B marketing is correct?
it allows business to target individuals within a business who affect buying decisions
The rapidly expanding use of e-procurement in business-to-business deals provides several advantages; however, one of the disadvantages is __________.
it pits suppliers against one another
Business-to-business marketing involves buying and selling goods or services by which of the following?
manufacturers, producers, retailers, wholesalers
Items such as technical specifications, quantity, delivery time, return policies, and warranties are included in which stage of the buying decision process?
order routine specification
__________ includes the final order with the chosen supplier or suppliers and lists other required items.
order routine specification
Which of the following correctly defines the institutional market?
organizations that provide goods and services to people in their care
Which stage of the business buying decision process occurs between supplier search and supplier selection?
personal solicitation