Exam 7: Analyzing Business Markets

In most countries,________ are the major buyers of goods and services.

In general,buyers review the product and its price rather than any other considerations about the seller as a buying decision is made.

One of the eight categories of buyer-seller relationships is the contractual transaction that generally shows low levels of trust,cooperation,and interaction;exchange is defined by formal contract.

If Ampex Support Systems is the single supplier for a local manufacturing company's MRO (maintenance,repair,operating)supplies and needs,Ampex Support Systems is considered as providing ________ for the manufacturer.

Small sellers should concentrate their marketing efforts on reaching ________.

The business marketer normally deals with ________ buyers than the consumer marketer does.

In systems buying,the U.S.government often solicits bids from prime contractors.What do prime contractors do?

If you were a purchasing agent facing a modified rebuy situation,how would you describe that situation?

Research has found that buyer-suppler relationships differed according to four factors.Which of the following would NOT be among those factors?

Assume that you have been given the task of assessing customer value at your organization.Further,you have been instructed to use the "compositional approach" to make this assessment.Describe what you would do if you used the compositional approach in assessing customer value.

Many firms depend on the opinions and experiences of others in evaluating a new business proposal from a new company.Identify five keys to successfully developing customer reference stories to respond to these demands.

Failure to quantify a customer's results in customer references can be a detriment to the effectiveness of those references.

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

In a ________ purchasing situation,the buyer wants to make some change to existing product specifications,prices,delivery requirements,or other terms.

The new,more strategically oriented purchasing departments have a mission.Which of the following most accurately describes that mission?

When buyers cannot easily monitor supplier performance,the supplier might shirk or cheat and not deliver the expected value.________ is "some form of cheating or undersupply relative to an implicit or explicit contract."

Webster and Wind define ________ as 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.

The purchasing department buys office supplies on a routine basis.This type of purchase is classified as a ________.

Business buyers may get new ideas at a trade show,see an ad,or receive a call from a sales representative who offers a better product or a lower price compared to the current in-supplier.These situations spur the ________ buyphase.

The buying process begins when someone places an order with a sales representative.