Exam 4: Business Buying Behavior

In business-to-government (B2G)markets,local,state,and federal governments buy products.

The first step of the B2B buying process is when the need is described.

Wholesalers,brokers,and retailers are examples of resellers.

Companies that sell to the government do not have to worry about following strict ethical guidelines.

Purchasing agents typically play an important role when potential suppliers are being researched.

B2B markets place more reliance on personal selling than B2C markets.

Content marketing is a strategic marketing approach focused on creating and distributing valuable,relevant,and consistent content to attract and retain a clearly-defined audience.

The clustering of firms,that are part of the same industry,occurs because the resources these firms need-both human and natural-are located in some areas and not others.

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?

A _____ occurs when a company wants to buy the same type of product it has in the past,but make some modifications to it.

The number of products sold in business markets outnumbers those sold in consumer markets.

In the last stage of the buying process,a _____ is conducted and the feedback provided to the vendor.

The FTC regulates companies in an effort to prevent them from engaging in _____ that can harm consumers and hamper competition.

E-commerce has made being located near buyers,less important.

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

Purchasing agents for merchandises are known as _____.

When asking for an expert opinion prior to buying a car,John is utilizing the knowledge of a(n)_____.

The Business Marketing Association has also developed a code of ethics that discourages bribery and other practices,such as disparaging a competitor's products unfairly and encourages treating one's suppliers equitably.

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.