Exam 6: Business Markets and Business Buyer Behavior

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 management directive to reduce the number of steel suppliers is most accurately classified as which type of influence affecting business buying behavior?

What are the major characteristics of government markets?

Describe the typical roles played by the various members of a buying center.

Explain the concept of derived demand,giving an example of a product that has derived demand.

Which of the following types of factors influencing members of a buying center are typically the most difficult for marketers to assess?

The decider is the person in the business buying process who controls the flow of information to others involved.

Business marketers often alert customers to potential problems and then show how their products provide solutions.These marketers are hoping to influence which stage of the business buying process?

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. -At what stage in the buying process was Richard when he sought input from others in the firm?

Which of the following is NOT part of the business market?

The decision-making unit of a buying organization is called the ________.

The government has mandated that in order to reduce local pollution,your printing plant switch from oil-based to water-based inks.This will require entirely new printing presses and a new printing plate technology.After carefully searching through numerous manufacturers' equipment descriptions and gathering opinions from all relevant parties related to the work,your printing plant's buying center will be ready to make this ________ purchase.

A problem with the rapidly expanding use of e-purchasing is that it ________.

A2Z Pharmaceuticals produces insulin,a product with a very stable demand,even though the price has changed several times in the past two years.Insulin is a product with ________ demand.

E-procurement typically cuts transaction costs and results in more efficient purchasing for both buyers and suppliers.

Many institutional markets are characterized by ________ and ________.

Which of the following statements about the supplier selection stage of the business buying decision process is true?

The business marketer must learn who participates in the _____________,each participant's relative influence,and what evaluation criteria each decision participant uses.

Shop N Save buys a lot of frozen turkey products at Christmas due to high consumer demand.This is an example of ________ demand.

One of Dr.Singh's dental assistants told the dentist he should buy a machine that would sterilize his tools without using any water because water tends to cause the tools to rust or corrode over time.In terms of the buying center,the dental assistant had the role of ________.

Why is it difficult to assess interpersonal factors that influence the business buying process?