MKTG 3310 - Chapter 7
In most country markets, the central government tends to be the ______ purchaser of goods and services.
largest
Some firms buy raw materials, components, and parts that allow them to make their own goods. These firms are known as ___________________ or producers.
manufacturers
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
When a firm places its orders with its preferred supplier(s), it engages in ______.
order specification
A firm's _ reflects the set of values, traditions, and customs that guide its employees' behavior.
organizational culture
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 process is known as the ______.
request for proposals
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 in which proposals are called for is called the __ process
request or RFP
Which of the following is not a major type of buying culture within an organization?
Monopolistic
What is the first stage in the business-to-business buying process?
Need recognition
The majority of B2B buying situations can be described as which three of the following?
New buys Modified rebuys Straight rebuys
______ refers to a set of unspoken guidelines that employees share in various work situations.
Organizational culture
What is the final stage in the business-to-business buying process?
Vendor performance assessment
Which of the following is an example of a reseller?
Wholesaler
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
A firm's organizational ___________ demonstrates the values, traditions, and customs that moderate its employees' behavior.
culture
Prior to finalizing a purchase, the procurement department may consult ______ to ensure that the purchase being made is suitable for the function it will have in the company.
design team members employees who use the materials
Burt's Bees buys raw materials in order to provide its finished earth-friendly products, such as perfumes, lip balms, and hair products. Which of the following business markets best describes Burt's Bees?
Manufacturer or producer
In the buying center, the person who consumes the product or service is the _.
user
The final stage of the B2B buying process is also known as _______ performance assessment using metrics.
vendor
In the fifth stage of the B2B buying process, ______ specification, the firm places its order with its preferred supplier(s).
order
In the B2B buying process, a firm will always recognize a need before engaging in the second phase of the process, the ______ stage of the process.
product specification
Which buying role ultimately determines whether to buy, what to buy how to buy, or where to buy?
Decider
When Hertz Rent a Car decides to expand its fleet, 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 marketing? (Select all that apply.)
Auto manufacturers, selling cars to Hertz Banks, financing Hertz's car purchases
___________ to ____________ 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.
Business; Business
Which of the following is NOT a step in the formal business-to-business buying process?
Commercialization
_ buying centers use one person to make a decision but solicit input from others before doing so.
Consultative
Each role within the buying center is different. Which role makes the final determination as to which product is purchased from which supplier, if purchased at all?
Decider
During which stage of the B2B process does the organization consider alternative solutions, which can be used by vendors to develop proposals?
Product specification
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 organizational buying?
Product specification
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
At which stage of the business-to-business buying process do organizations invite alternative vendors or suppliers to bid on supplying their required components or specifications?
Request for proposals
Which of the following is not one of the six typical buying roles within a buying center?
Seller
Which of the following are roles within a buying center?
User Initiator Decider
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
In the buying center, the _ is the person who handles the paperwork of the actual purchase.
buyer
The _________ includes members of Hope Spring's upper management team, Brian (the purchasing manager), and members of the accounts payable department.
buying center
All the following are involved in business-to-business (B2B) marketing EXCEPT:
consumers
The ____________ will be the person who ultimately determines any part of the buying decision.
decider
A buying center in which the majority rules in making decisions is known as a(n) _ buying center?
democratic
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
derived demand
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
The person who may agree with the initiator and convince others in the firm to agree with buying a particular item is called a(n) ______.
influencer
In the buying center, the _ is the person who first suggests buying the particular product or service.
initiator
Within a typical buying center, the ______ is the person who FIRST suggests buying a particular product or service.
initiator
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 a _, the buyer has purchased a similar product in the past but has decided to change some specifications, such as the desired price, quality level, customer service level, options, or so forth.
modified rebuy
Most B2B buying situations can be categorized into three types: new buys, straight rebuys, and _.
modified rebuys
The three B2B buying situations are __________ buys, ___________ rebuys, and straight rebuys.
new modified
In a _ situation, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision.
new buy
The most complex and difficult buying situations is the _, because the buying organization does not have any experience with the item.
new buy
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?
product specification
A local clinic (institution) in need of more Purell antibacterial soap might purchase 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
A public school system is an example of which type of B2B organization?
Institution
____________ control the flow of information and/or access to the members of the buying center at Hope Springs.
Gatekeepers
Which of the following is not an example of a type of B2B organization?
Households
In the fourth stage of the B2B buying process, _____, vendor negotiation, and selection all occur.
proposal analysis
Place the steps of the B2B buying process in order by placing the FIRST step at the top of the list and the LAST step at the bottom of the list.
-Need Recognition -Product Specification -RFP process -Proposal analysis and supplier selection -Order Specification -Vendor/performance assessment using metrics
Match each buying role with the correct description. 1) Initiator 2) Influencer 3) Decider 4) Buyer 5) User 6) Gatekeeper
1) Person who first suggests buying the product' 2) Person whose views persuade others 3) Person who ultimately determines the buying decision 4) Person who handles paperwork of purchase 5) Person who consumes or uses the product 6) Person who controls information or access
In most large organizations, buying decisions are made exclusively by members of the purchasing or procurement department, with limited or no input from other employees.
False
The Pentagon spends a huge amount of money on aerospace and defense products. The Pentagon represents which type of B2B organization?
Government
In the B2B buying process, the firm's order contains a detailed description of all of the following, except _.
Inventory levels
Terence recognizes that in order to fulfill customers' expectations for his florist business, he needs a customized delivery van. This illustrates the requirements for which stage in the B2B process?
Stage 1: Need recognition
_ occur when the buyer or buying organization simply buys additional units of products that had previously been purchased.
Straight rebuys
What is the purpose of a white paper?
To provide product information in an easy-to-read informational context
The government is usually one of the largest spenders in the B2B market.
True
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
In a(n) _ buying center, even though there may be multiple participants, one person makes the decision alone.
autocratic
