Exam 6: Business Markets and Business Buyer Behavior

When competing products differ greatly,business buyers are more accountable for their purchase choices and tend to pay more attention to ________.

In what type of buying situation would a seller most likely send only a catalog to the buyer during the proposal solicitation stage of the business buying process?

A firewall is a(n)________.

Brad Loo is responsible for obtaining price quotations from various vendors.After reviewing them,he then determines whether or not to include the vendor on the approved vendor list.Brad apparently plays two roles,that of ________ and ________.

In which stage of the business buying process is a supplier most likely to provide a buyer with information about the value of different product characteristics?

When compared to consumer markets,business markets are ________.

What are the major characteristics of institutional markets?

All of the following organizations are likely considered to be a part of the institutional market EXCEPT ________.

It is safe to say that business buyers react in purchase decisions with both reason and emotion,therefore they respond to both personal and ________ factors.

Gail Khor has formal authority to select the suppliers and arrange terms of purchase for many of the items her firm uses.Her role in the buying center is that of ________.

Provide a brief explanation of the major influences on business buyers.

In the generally accepted stages of the business buying process,the step following product specification is ________.

In a typical organization,buying activity consists of two major parts: the buying ________ and the buying ________.

Although E-procurement through email and home banking transactions can be protected by basic encryption,the _______________ that businesses need to carry out confidential interactions is often still lacking.

Environmental,organizational,interpersonal,and individual factors all influence business buyer behavior.

Influence,Expertise and Authority are all examples of ________ influences on business buyer behavior.

Seng Choo Farm raises chickens.When Mr Choo went to reuse some of his coops,he noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced.Mr Choo was at which stage of the business buying process when he decided to replace his old coops?

Refer to the scenario below to answer the following questions. A-1 Stampings Ltd. produces 14 metal stampings for the automotive industry. Due to industry design changes, for the next model year, six of those stampings will require a slight change: two will have an extra hole punched through the side, two will require an extra plating process, and two will require an additional weld operation. In the meantime, the purchasing agent Richard Koh has been asked to reduce the number of A-1's steel suppliers in an effort to cut costs. After obtaining updated price quotations and steel samples from his current suppliers, Richard faced a dilemma. Until now, he had selected his suppliers based on quality and price, but a major consideration had been the type of steel required and the specialized production processes of his respective suppliers. Not all of A-1's suppliers could produce the exact grades of steel needed; some suppliers were better at producing certain types of steel than others. Richard contacted several employees at A-1 who had worked with the various types of steel in the past. The quality control manager and line inspector, for example, could help to determine which suppliers had the capabilities of producing specific types of steel. The production control manager could provide input regarding which types of steel worked best in which presses. Even the warehouse foreman gave input regarding how long various types of steel could be held in inventory before rust spots began to form on their surfaces. Each person contributed the necessary information to help Richard in making his decision. -The demand for A-1 Stampings' products is ultimately based on the demand for new automobiles in the consumer market.This is an example of ________ demand.

Proposals should be marketing documents and not just technical documents.

Business demand ultimately derives from the demand for consumer goods.