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18 questions
Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________.
types of decisions
derived demand
market structure
the decision process
nature of the buying unit
In a straight rebuy, a buyer ________.
wants to obtain the same product from a lower-priced supplier
reorders something without any modifications
considers a product or service for the first time
needs a modified product to suit new requirements
needs a modified product to suit new requirements
________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers.
Modified rebuy
Straight rebuy
New task buying
Systems selling
Supplier development
A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________.
modified rebuy
new-task situation
straight rebuy
dual distribution channel
exclusive distribution channel
When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in ________ between business and consumer markets.
types of decisions
derived demand
market structure
the decision process
nature of the buying unit
A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________.
modified rebuy
new task situation
straight rebuy
dual distribution system
exclusive distribution system
Harper Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jane Harper, went to reuse some of her coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying decision process was Harper in when she decided to replace her old coops?
problem recognition
general need description
product specification
product value analysis
performance review
Which of the following is most likely the final stage of the business buying decision process?
problem recognition
product specification
proposal solicitation
order-routine specification
supplier performance review
Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business?
extranet links
intranet connections
trading exchanges
traditional procurement
reverse auctions
The main differences between the business market and the consumer market are found in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved.
TRUE
FALSE
A business marketer normally deals with far fewer buyers than the consumer marketer does.
TRUE
FALSE
The total demand for many business products is not much affected by price changes, especially in the short run.
TRUE
FALSE
In a straight rebuy, a buyer reorders something without any modifications.
TRUE
FALSE
Business buying is done by newly trained purchasing agents who are learning how to buy better.
TRUE
FALSE
Purchasing, often called e-procurement, has grown rapidly in recent years.
TRUE
FALSE
Digital and social media play an important role in engaging always-connected business buyers in a way that face-to-face personal selling alone cannot.
TRUE
FALSE
The business buying process tends to be shorter and less formal than the consumer buying process.
TRUE
FALSE
A company buying a product with modified specifications faces a new-task situation.
TRUE
FALSE