Exam 8: Business Markets and Buying Behavior

Feedback acquired during the fifth stage of the business buying decision process is kept on file but not used as a reference for future business purchase decisions.

In business markets, individuals or groups purchase products for one of three purposes. These purposes are

Which type of business market tends to have the most complex buying procedures?

NAICS provides little information about service industries and high-tech products.

Pella Windows manufactures stock sizes as well as custom-sized windows in a variety of finishes and sells the windows through distributors across the globe. Pella Windows' manufacturing plants utilize just-in-time processes to receive delivery of raw materials such as aluminum and glass, and component parts such as weather stripping and window locks or fasteners. What category or type of business market best represents Pella Windows?

A marketer who starts selling to the business market, after having spent most of his career selling directly to consumers, will quickly come to realize that business customers are very demanding. Business customers place a high value on which of the following aspects of a buying relationship?

Scenario 8.2 Use the following to answer the questions. Precision Brake Company is a supplier of brake components to the manufacturers of lawn tractors and 4-wheel ATVs. It also sells its products to independent repair centers, dealers, and other wholesalers in the Northeastern and Southern regions. Precision Brake has done research on the demand for lawn tractors and found that most manufacturers are in the states of Kentucky, Tennessee, and Alabama. Research also shows that most of the dealers who sell directly to individual consumers are in the Midwestern region, while dealers who sell to small business landscaping companies tend to be located in the Northeastern region. Company executives are considering expansion of its distribution to markets in the Midwest. Refer to Scenario 8.2. Given the type of business market in which Precision Brake is currently operating, which group would it be least likely to sell to?

How has the Internet facilitated the organizational buying process?

About what percentage of the annual U.S. gross domestic product is government spending?

Which one of the following countries is not included in the data presented in NAICS?

Milly's Hardware and Thames Industrial Supplier have worked closely for many years and have a mutually beneficial relationship in which Milly's provides all of Thames's hardware needs in a timely manner. Milly's and Thames's relationship could be best characterized as a(n)

You are manager of a clothing manufacturing firm that has operations in different countries. Your Indonesian manufacturing facility is dedicated solely to producing elementary school uniforms for the U.S. market. Most of your product output is sold to a larger school uniform company in the U.S. called School Uniforms, Inc. School Uniforms, Inc. has major contracts with school districts like the Los Angeles Unified School District. In this scenario, the Los Angeles Unified School District is part of which of the following business markets?

Compare and contrast the consumer buying decision process and the business buying decision process.

Business markets are typically divided into four categories. These categories are

An organization that decides to buy all of a certain part from the same company is using

What are some of the major concerns of business customers in making purchase decisions?

Inelastic demand in business markets refers to a situation where

Price is of concern to a business marketer primarily because of its psychological impact on purchasing agents.

The term business markets refers only to producer markets.

The Hilex Poly plastic bags used at Walmart are supplied by Novolex. From Hilex's perspective, Walmart is part of the ___________ market.