Exam 7: Analyzing Business Markets

Describe the practices of systems buying and systems contracting.

A new-task buyclass decision begins with which of the following steps?

In the purchasing decision process, the ________ are those who have the power to prevent sellers or information from reaching members of the buying center.

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects such as dams or pipelines.

The business buyer makes the fewest decisions in the straight rebuy situation and the most in the new-task situation.

The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________.

Orica Inc. competes in the market for commercial explosives. The company recently changed its business model from just selling explosives to managing an entire blast in a quarry. This customer-solution-based approach to the sale of explosives is an example of ________.

Ultimately, the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

Most business buyers reject what is called systems buying from one seller.

With respect to e-procurement, which of the two types of e-hubs are Web sites organized around?

If you decided to go into the systems contracting business, which of the following categories would constitute your main area of expertise?

E-procurement Web sites are organized around two types of e-hubs. If you were in the advertising business and were seeking to take advantage of e-procurement, what type of e-hub should be constructed by your company?

Organizational buying is the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.

On an online ________, prices change by the minute.

Companies are increasingly reducing the number of suppliers they utilize, and there is a trend toward single sourcing.

In the straight rebuy, "out-suppliers" try to get a small order and then enlarge their purchase share over time.

Pittsburgh-based Consol Energy's coal business largely depends on orders from utilities and steel companies which, in turn, depend on broader economic demand from consumers for electricity and steel-based products like automobiles and appliances because of ________.

Given the highly competitive nature of business-to-business markets, the biggest enemy to marketers here is commoditization.

________ refers to the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.