MKT 350 Chapter 7

6 Stages in B2B Process

1. Need recognition 2. Product specification 3. RFP process 4. Proposal analysis and supplier selection 5. Order specification 6. Vendor/ performance assessment using metrics

3 Types of B2B Buying Situations

1. New buy 2. Modified rebuy 3. Straight rebuy

Stakeholders who fill different roles in the B2B buying process are collectively known as the _______.

Buying center

The ___________ includes members of Hope Springs's upper management team, Brian (the purchasing manager), and members of the accounts payable department.

Buying center

If all the stakeholders at the hospital reached a collective agreement that they would support purchasing a GE X-ray machine, they would be a(n) _________ buying center.

Consensus

User

Consumes or uses the product or service

Gatekeeper

Controls information or access, or both, to decision makers and influencers

Hope Springs purchases many products from suppliers in the course of doing business, including empty water bottles. The number of bottles Hope Springs will need each month depends on the number of bottles purchased by customers. This is an example of __________.

Derived demand

If consumers are using health care services at a higher rate than in the past, health care providers will need to purchase more inputs, ranging from X-ray machines to bandages. This represents ________.

Derived demand

Decider

Determines whether to buy, what, how, and where

Dole requests proposals from three or more vendors to ______.

Encourage competition

Initiator

First suggests buying the product or service

_________ control the flow of information and/or access to the members of the buying center at Hope Springs.

Gatekeepers

Buyer

Handles the paperwork of the purchase

By tailoring different value propositions to different decision makers at the hospital, GE Healthcare's sales representatives are filling which buying-center role?

Influencer

Customer feedback ___________ the vendor selection process.

Influences

Influencer

Influences other members

A hospital is which element in the B2B marketplace?

Institution

The Dole QA team determines which vendors can _______.

Meet requirements

If Brian were tasked with purchasing an additional 500 tablets for Hope Springs but he was asked to change the requirements for making the purchase, this would be called a(n) __________ situation.

Modified rebuy

If the U.S. Department of Agriculture makes a minor change to standards affecting Dole's products, Dole will likely initiate a _______.

Modified rebuy

Hope Springs needs tablet computers that are fast, include 24/7 tech support, and include a generous volume discount. These criteria would be collected during which stage of the B2B buying process?

Product specification

B2B Marketing

Refers to the process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, and/or for resale by wholesalers and retailers.

B2B Markets

Resellers, Manufacturers/ service providers, institutions, government

If a current vendor does not meet Dole's needs, Dole will likely initiate _____.

The B2B buying process

RFP

The request for proposals (RFP) is a process through which buying organizations invite alternative suppliers to bid on supplying their required components

GE Healthcare knows that different participants fill different roles in B2B purchase decisions. Which of the following is not one of these roles?

Wholesaler