Exam 8: Business Markets and Buying Behavior

Goodyear is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Goodyear's tire products is said to be ____ since it depends on the demand for new cars.

Vendor analysis is a formal, systematic evaluation of current and potential vendors that focuses on a variety of dimensions including price, product quality, delivery service, product availability, and overall company reliability.

The fourth stage in the business buying decision process is that of searching for products and suppliers.

Buyers in producer markets purchase either raw materials or semifinished products.

The North American Industry Classification System includes all three NAFTA partners.

Examining quality, design, materials, and item reduction to acquire a product in the most cost-effective way falls under which stage of the business buying decision process?

In the buying decision process, one of the activities included in the search for products and suppliers is examining various online and print publications.

Motorola buys silicone, which is used in its chip-making process. Motorola produces microchips for use within a wide variety of products for other firms, such as Ford, GM, and Samsung. Motorola is a buyer in a(n) ____ market.

An example of a business market would be farmers.

As the new sales representative for Mackstead Electronics, Sophie is responsible for calling on hospital management and selling electronic hospital equipment such as blood pressure cuffs, scales, and heart monitors. Sophie knows that she needs to be friendly with the administrative assistants in the management offices in order to make sure that Mackstead's information brochures and new product diagrams actually get to the management staff. In this situation, Sophie is exhibiting her knowledge that administrative assistants are often ________ in the buying decision process.

Reciprocal arrangements are legal as long as they do not threaten competition.

Ultimate consumers are generally more rational than business customers.

Barry Gluckman of WP International, a major marketer of word-processing software, calls the secretary of Renee Dorchette, director of purchasing for MMK, Inc. He sets up an appointment to discuss an upcoming purchase of software. The secretary plays the role of ____ in this purchase decision.

There is little or no difference between wholesalers' customers and retailers' customers.

The Environmental Protection Agency (EPA) was established on December 2, 1970, to consolidate in one agency a variety of federal research, monitoring, standard-setting, and enforcement activities to ensure environmental protection for residents of the United States. Since its inception, EPA has been working for a cleaner, healthier environment for the American people and is responsible for providing inspection services and cleanup efforts in the case of contamination or hazards. The EPA is a(n) _____ type of business market.

Most business buying decisions are made by

In some cases, the types of services offered by a supplier may constitute a competitive advantage over suppliers of similar products.

In a buying center, purchasing agents or purchasing managers are also known as

A new-task purchase is one in which the business makes an initial purchase of a new item.

A customer evaluates the quality of the products being considered to determine whether they ________________.