Exam 6: Business Markets and Business Buyer Behavior

Explain how the decision process in the business market and consumer market differs.

FedEx serves both consumer and business markets,but most of its revenues come from its business customers.FedEx has become a strategic logistics ally for many of its business customers,going far beyond offering delivery services to offering inventory management,international trade management,and even financing to its commercial customers.This is an example of which of the following differences between the consumer and business markets?

Pace Hardware uses Learningnow.com to improve sales force effectiveness and facilitate sharing of expertise.It allows Pace retailers to link with other Pace retailers to ask for managerial and marketing advice.It also allows Pace retailers to ask their suppliers about product usage,deliveries,and warranties,and it allows suppliers to send new-product information directly to Pace retailers.In this scenario,Pace Hardware is using a(n)________.

Business buying behavior refers to the buying behavior of organizations that buy all of the following EXCEPT ________.

A buyer would be most likely to review trade directories in which stage of the business buying process?

The main differences between business and consumer markets include market structure and demand,the nature of the buying unit,and the types of decisions.

The owners of the company you work for have developed a core network of suppliers they are working closely with to ensure an appropriate and dependable supply of products.This is an example of ________ management.

Buyers have different buying styles influenced by interpersonal factors such as age,income,education,professional identification,and attitudes toward risk.

Hewlett-Packard and Toshiba buy Intel microprocessor chips because consumers buy personal computers.This demonstrates an economic principle called ________.

A(n)________ controls the flow of information to others in the buying center.

When conducting a performance review,the seller monitors different factors than those monitored by the buyer to make sure that the seller is giving the expected satisfaction.

In one way or another,most large companies sell to ________.

Total government spending is determined by ________ rather than by any ________ to develop this market.

What information is a buyer likely to include in the general need description?

To ensure an adequate and available supply of key scarce materials,many companies are now willing to ________.

Which of the following is NOT a way that business and consumer markets differ?

Describe the eight steps in the business buying process.

A statement prepared by a business buyer describing the quantity and general characteristics of the items needed is a product specification description.

You call in a department manager to assist in a purchase of industrial equipment.You are considering a change in product specifications,terms,and possibly suppliers.This is most likely a ________ situation.

Under a(n)________,buyers share sales and inventory information directly with key suppliers.