Exam 7: Business Markets and Buying Behavior

A company's buying center encompasses everyone who is involved in any aspect of its buying activity.

Explain the four components of business-to-business markets.

The segmentation of the B2B marketplace based on how business purchasers will use the product is called:

Adam, a purchasing agent for an automobile manufacturer, is making a list of payroll services suppliers available in the market. In which stage of the organizational buying process is Adam?

​A new employee in your company is confused. She was hired to help with purchasing, but she's been told that she will be busiest after purchases have been concluded -- in other words, after vendors have been chosen and their goods have been supplied. Will this employee be involved in the organizational buying process?

A negotiation process wherein each marketer develops its offer, including a price that will satisfy the criteria determined by the customer's problem, need, or opportunity, is known as:

You're the chief sales and marketing officer for Western Health Products, a manufacturer of a wide range of medical products for home, medical office, and hospital use. Some of your customers have buyers who make their own purchasing decisions, whereas other customers have lengthy decision-making processes involving many people within the organization. Given the variations in your customers, what could you do to make your marketing and sales processes more efficient?

You are a buyer for GameStop, a video games retailer. Which of the following is the best indication that users play an important role in your buying decisions?

Elise Mayes, the office manager for a mid-sized real-estate agency, DeMarco Realty, is currently researching high-speed photocopiers to replace one of their aging models. She's received three proposals from three different suppliers, and she's selected the best one. Now she's just waiting on Shandra DeMarco's approval to make the purchase. In this case, Elise is the ___ and Shandra is the ______.

As the marketing manager for a lumber company, you've set a goal to work closely with the salespeople to ensure excellent buyer-seller relationships with the company's customers. Which of the following is a sign you're succeeding?

Once a search for suppliers is completed and the company makes the suppliers aware of its needs, the company will begin:

You're the sales and marketing director for All Weather Tire, a manufacturer of tires sold through tire stores and garages across the country. At the next annual meeting with all of your salespeople, you want to encourage them to focus their selling efforts on those customers with the greatest buying power. What is the number one thing you think the salespeople need to know in order to prioritize their customers?

Which of the following statements is true regarding the nature of the business market?

What distinguishes the business buying process from the consumer buying process? What do B2B marketers need to understand about organizational buying behavior?

Kobe is an account executive with Stryker, a medical device company. He and his team have prepared a document to submit to a regional hospital to become their primary vendor for medical devices within the hospital system. The document will be reviewed by the hospital purchasing department and Stryker will be compared to other suppliers vying for the opportunity to assist with the hospital with their medical device needs. What stage in the buying process does this reflect?

The organizational buying process differs from the consumer purchase process as the organizational buying process:

At Kroger's corporate headquarters, you play a key role in the process of purchasing baked goods, such as breads, tortillas, and baked desserts. Which of the following activities indicates that you are a buyer?

Elise is the office manager for a mid-sized real-estate agency, and she is currently researching high-speed photocopiers to replace one of their existing models. Which of the following is NOT an organizational factor that influences Elise?

An organization's purchasing decisions can be influenced by ______________ such as a tornado destroying a factory that produces supplies necessary for the organization's operations.

You're an account manager in New York City's garment district, and you sell buttons, zippers, and other similar items to clothing manufacturers in the area. You know that your customers' opinions are always influenced by the people around them, but which of the following interpersonal influences is least likely to affect your customers' buying decisions?