Exam 4: Business Buying Behavior

In a _____,the buyer lists the product to be purchased and the seller bids.

_____ are companies that purchase goods and services that they transform into other products.

As the demand for MP3 players increased,so did the demand for headphones.This is an example of _____.

In _____ markets,there is more reliance on mass marketing via advertising,Web sites,and retailing

Professional buyers are shrewd and well informed.

B2C markets have smaller total dollar amounts due to fewer transactions.

Resellers are companies that sell goods and services that they have transformed.

In _____ the roles of the buyers and sellers are reversed.

E-commerce has created savvy buyers who have more information about prices.

Commerce conducted electronically over the Internet is known as _____.

Murphy's is a restaurant that purchases goods,such as fruits,vegetables and meat,from local vendors,and uses them to prepare their dishes.Which of the following best describes Murphy's?

Professional buyers stay informed of the latest trends so as to anticipate consumer buying patterns.

A(n)_____ occurs when a purchaser buys the same product in the same quantities from the same vendor.

Firms want to do business with firms that are responsible because:

Institutional markets include state and local governments.

Allen's company supplies photographic film to larger corporations that package and sell them to consumers,along with their own brand of cameras.In recent years,the sale of photographic film to these firms has fallen drastically because more and more people prefer buying digital cameras.Allen's company suffered a loss of business due to the fall in _____.

Ethical behavior in business is not clear cut.

Explain how business-to-business (B2B)markets differ from business-to-consumer (B2C)markets.

B2B markets have a large number of customers accounting for most of the company's sales.

_____ make the final purchasing decision.