Principles of Marketing Chapter 7
The fourth stage of the B2B buying process has a number of mini steps within itself. Which of the following is NOT one of the steps within the fourth stage?
Product specification
In the fourth stage of the B2B buying process, ______, vendor negotiation, and selection all occur.
proposal analysis
In the first stage of the B2B buying process, the buying organization recognizes, through either internal or external sources, that it has a(n) ______ need.
unfulfilled need
Which of the following are roles within a buying center?
Initiator User Decider
______ refers to a set of unspoken guidelines that employees share in various work situations. Multiple choice question.
Organizational culture
influencer
Person whose views persuade others Person whose views persuade others
Terence realizes that in order to fulfill customers' expectations for his florist business, he must purchase a customized delivery van. This illustrates the requirements for which stage in the B2B process?
Stage 1: need recognition
A software development firm has built a program that can help businesses more efficiently target advertisements toward those who are most likely to buy. The sales team wants to introduce the product to potential clients but doesn't want to overwhelm them with a pushy sales pitch or overly technical language. To do this, they should create which of the following?
White paper
All the following are involved in business-to-business (B2B) marketing EXCEPT ______. Multiple choice question.
consumers
B2B marketing involves the process of buying and selling goods or services to be used in the production of other goods and services for ______ by the buying organization and/or ______ by wholesalers and retailers
consumption; resale
Hospitals, universities, and religious organizations could be considered ______ to which a B2B vendor would sell products.
institutions
Resellers can be thought of as ______.
intermediaries
In most country markets, the central government tends to be the ______ purchaser of goods and services.
largest
Burt's Bees buys raw materials in order to make its earth-friendly products, such as perfumes, lip balms, and hair products. Which of the following business markets best describes Burt's Bees? Multiple choice question.
manufacturer or producer
Some firms buy raw materials, components, and parts that allow them to make their own goods. These firms are known as ___________ or producers
manufacturers
Business-to-business (B2B)
marketing refers to the process of buying and selling goods or services to be used in producing other goods and services for consumption by the buying organization and/or for resale by wholesalers and retailers.
The three B2B buying situations are__________ buys, ________ rebuys, and straight rebuys.
new; modified
In the fifth stage of the B2B buying process, ______ specification, the firm places its order with its preferred supplier(s).
order
When a firm places its orders with its preferred supplier(s), it engages in ______.
order specification
In the B2B buying process, a firm will always recognize a need before engaging in the second phase of the process, ______.
product specification
Once a firm recognizes a need, the firm will consider alternative solutions and develop a list of requirements to be given to potential vendors. What is the name for this process? Multiple choice question.
product specification
n the fourth stage of the B2B buying process, ______, vendor negotiation, and selection all occur
proposal analysis
During the B2B buying process, a firm will typically invite alternative suppliers to bid on supplying the firm's required components for a product. This stage is called the _____________ -for proposal process.
request
In the third stage of the B2B buying process, the firm will invite alternative suppliers to bid on supplying the firm's required components. This is known as the ______ process.
request for proposals
A local clinic (institution) in need of more Purell antibacterial soap might purchase it from Target, which is a ______ of soap, whereas a local high school (institution) in need of more textbooks might buy some from McGraw-Hill, which is a ______.
retailer; manufacturer
Using metrics to evaluate a supplier of raw materials to a manufacturer is part of which stage of the B2B buying process?
vendor performance assessment
Place the steps of the B2B buying process in order
1. need recognition 2. product specification 3. RFP process 4. proposal analysis and supplier selection 5. order specification 6. vender/ performance assessment using metrics
When Hertz decides to expand its fleet of rental cars, several companies, as well as consumers, will be involved. Financial services will be provided by banks, and the actual fleet of cars will come from auto manufacturers. Hertz will rent the cars to consumers. In this scenario, which of the following are involved in B2B transactions?
Banks, financing Hertz's car purchases Auto manufacturers, selling cars to Hertz
user
Person who consumes or uses the product Person who consumes or uses the product
Gatekeeper
Person who controls information and/or access to decision makers and influencers
initiator
Person who first suggests buying the product Person who first suggests buying the product
buyer
Person who handles the paperwork of the purchase
decider
Person who ultimately determines the buying decision
What is the purpose of a white paper?
To provide product information in an easy-to-read informational context
______ are the entire category of marketing intermediaries that move the product further downstream in the channel without significantly altering the form.
reseller
True or False: The government is usually one of the largest spenders in the B2B market.
true
