Principles of Marketing Ch. 5

Over __________ of U.S. business school graduates take jobs in firms that engage in business marketing.

50%

During the postpurchase behavior stage of the organizational buying process, which of the following is most likely to occur?

A supplier's performance is formally evaluated

One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organization buying

Advertising is often technical in nature.

Purchasing and engineering personnel would visit potential suppliers to assess their quality control at which stage in the organizational buying process?

Alternative evaluation

The Perth Mint in Australia provides silver blanks to the U.S. Mint, which then creates products for consumers like the collectable American Eagle Silver Bullion Coins. The demand for Perth's silver blanks is called __________ demand.

Derived

Lowe's and Home Depot no longer purchase lumber from companies that harvest timber from the world's endangered forests because they have which buying objective?

Environmental sustainability

A buying committee differs from the typical buying center in that the former is

Highly formalized

Which type of e-marketplace is described as a neutral third party?

Independent e-marketplaces

Farming and real estate businesses are examples of

Industrial markets

Jack, in inside sales, has an office right across the hall from the administrative pool. When he heard they were purchasing a new paper shredder, he said, "I know I don't get much of a say, but please look for one that is quieter. When you use it, my furniture actually vibrates. That thing drives me crazy!" Here, Jack performs what function in the buying center?

Influencer

Which of the following is most characteristic of an organizational buyer in the buying process?

Is technically qualified and professional

An advantage of the North American Industry Classification System (NAICS) is that

It can be used to monitor growth in various sectors and identify marketing opportunities.

Which of the following is a commonly used organizational buying criterion?

Past performance of previous contracts

Tyler co-owns a coin-operated laundry downtown with his two brothers, but he does most of the day-to-day management. Which of the following would most likely be a straight rebuy for Tyler?

Reordering single-use detergent packets for his vending machine

Best Buy, a consumer electronics chain, is an example of which type of organizational buyer?

Reseller

Which of the following is a reason that online buying is so prominent in organizational markets?

Technology can substantially reduce buyer order processing costs.

One challenge associated with selling to organizations is that

There are far fewer buyers

Organizational buyers include all buyers in a nation EXCEPT:

Ultimate consumers