Chapter 6

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straight rebuy

A business buying situation in which the buyer reorders something without any modifications is known as a​ _________

product specification

Product value analysis is an approach to cost reduction that is used at which stage of the buying decision​ process?

it pits suppliers against one another

The rapidly expanding use of​ e-procurement in​ business-to-business deals provides several​ advantages; however, one of the disadvantages is​ __________.

derived

​Business-to-business marketers will sometimes promote their goods directly to consumers. This is because business demand is​ __________

influencers

​__________ are members of the buying center who help define specifications and provide information for evaluating alternatives.

reverse auctions

one form of​ e-procurement is​ __________ in which companies put their purchasing requests online and invite bids.

is inelastic

Business markets have demand that​ __________.

General need description

Developing product specifications follows​ __________ in the business buyer decision process.

derived demand

Eaton sells only to businesses and focuses on the​ electrical, hydraulics,​ aerospace, and vehicle markets. When the economic crises hit in​ 2008, consumers began cutting​ back, and as a​ result, Eaton's customers needed to cut costs and scale back operations.​ This, in​ turn, impacted​ Eaton's sales, which is known as​ __________.

food vendors with low prices and quality products

Hospital purchasing agents should prefer​ __________.

systems selling

In the​ B-to-B market, one strategy is to offer a complete solution to a​ buyer's problems. This is called​ __________.

a new task buying situation

In which type of buying situation will a buyer usually go through all eight stages of the business buying​ process?

characterized by low​ budget, captive patrons

Institutional markets are​ __________.

influencer

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?

influencers

When Eaton worked with the University of Notre Dame on its new engineering building to improve its energy efficiency and earn LEED​ credits, Eaton engaged with a number of people at Notre Dame to finalize the partnership and solidify terms and conditions associated with the agreement. Which of the following people in the buying center would have affected Notre​ Dame's buying decision​ (for example, define specs and provide information on evaluating​ alternatives)?

problem recognition

When​ Eaton's customers became aware that they needed solutions for power​ management, energy​ savings, green​ technologies, and LEED​ certification, they were in which phase of the business buying​ process?

organizations that provide goods and services to people in their care

Which of the following correctly defines the institutional​ market?

A grocery store buying cereal from​ Kellogg's

Which of the following is a​ business-to-business market​ transaction?

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

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 is growing rapidly but offers limited ways to engage customers compared to​ face-to-face selling. C. It reduces customer engagement and interaction. D. It is growing slowly because business buyers are only occasionally connected to digital devices. E. It is a very important medium but its use is currently limited to a small number of industries.

the market is very small and limited

Which of the following statements is not a difference between business markets and consumer​ markets?

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

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

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

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

order routine specification

__________ includes the final order with the chosen supplier or suppliers and lists other required items.

Order-routine specification

Items such as technical​ specifications, quantity, delivery​ time, return​ policies, and warranties are included in which stage of the buying decision​ process?

environmental

There are a number of influences on the buying organization and buying center that can impact how and what is purchased by a business. For​ Eaton's customers, the economic crises in 2008 would be classified as what type of​ influence?

buying center

The​ __________ consists of all the people who are involved in an organizational buying decision.

manufacturers, producers, wholesalers, retailers

The​ __________ consists of all the people who are involved in an organizational buying decision.

reverse auctions

To do​ e-procurement, companies can conduct ​__________​, in which they put their purchasing requests online and invite suppliers to bid for the business.

The buying center and the buying decision process

What are the two major components of a​ B-to-B marketer's buying​ activity?

solutions selling

through the​ years, Eaton has shifted from selling strictly components to solving its​ customers' problems with more tailored offerings. This is an example of​ _________.


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