Exam 5: Business-to-Business (B2B) Marketing

What is the ongoing evaluation of a supplier's performance in categories such as price, Electronic Data Interchange capability, delivery times, and attention to special requests known as?

Merchandiser is the common designation for a purchasing agent in wholesale and retail trades.

Match each item to the statement or sentence listed below. a.commercial market b.trade industries c.market segmentation d.customer-based segmentation e.end-use segmentation f.global sourcing g.joint demand h.inelastic demand i.outsourcing j.value analysis k.vendor analysis l.buying centre m.reciprocity n.gatekeeper o.modified rebuy -The person who controls the information all members of a buying centre will review is a(n) _____. 2.The _____ consists of individuals and firms that acquire products used to support the production of other products. 3.is the practice of buying from suppliers who are also customers. 4.consists of retailers and wholesalers who purchase products for resale to others. 5.A(n) _____ comprises participants in an organizational buying action. 6.By applying _____ concepts to groups of business customers, marketers can develop a strategy that best suits the needs of those customers. 7.The assessment of supplier performance is called _____. 8.is the process of dividing a B2B market into homogeneous groups based on product specifications. 9.is the systematic study of the components of a purchase to determine the most cost-effective approach. 10.Dividing a B2B market based on how customers will use a product is called _____. 11.is the use of outside vendors to produce products that were formerly produced in-house. 12.Purchasing products from suppliers worldwide is called _____. 13.If the demand for a product remains constant, even if its price changes, then this product is said to exhibit _____. 14.indicates that the demand for one product depends on the demand for another product. 15.A(n) _____ occurs when a purchaser is willing to consider new products or re-evaluate available alternatives.

A firm deciding to purchase more energy-efficient machines in response to rising fuel prices illustrates the first step in the business buying process.

Dell Computer purchases parts and resources for its computers from suppliers worldwide.What is this practice known as?

The commercial market purchases products for use directly and indirectly in the manufacturing of other products.

Successful organizational marketers understand their customers' organizational structures, policies, and purchasing systems.

Which of the following types of organizations would NOT ordinarily be considered a part of the institutional market?

The difference between capital and expense items is not only the size and length of use, but also the way the accounting department handles production costs.

The commercial market consists of retailers and wholesalers that purchase finished goods primarily for resale to other businesses and to the consumer.

Since Home Depot markets to consumers and business customers, the company would MOST likely use television and print media to reach both marketplaces.

Who controls the information that enters the company's buying centre?

Define B2B marketing.How does it compare to the consumer marketplace in terms of size and transaction volume?

If Product A is used primarily to manufacture Product B, then the demand for Product A is derived from the demand for Product B.

Centralized purchasing units may contract with only a few suppliers to service multiple locations because they lack interest in long-term relationship building and place greater reliance on immediate results.

How does the purchasing process for business products differ from the purchasing process for consumer products?

Because of its size, the government represents the largest segment of the B2B marketplace.

New-task buying for businesses is comparable to the extended problem solving that takes place in consumer markets.

Discuss the make, buy, or lease decision for industrial organizations.

What is the function performed by the gatekeeper in the company buying centre?