MKT 340 Ch. 7 – Flashcards
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_____ reflects the link between consumers' demand for a company's product and the company's purchase of necessary inputs to manufacture or assemble that particular product.
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Derived demand
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n B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.
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manufacturers
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Which of the following is an example of a reseller?
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wholesaler
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In terms of business markets, organizations like colleges that provide services to people in their care are classified as
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institutions.
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With its estimated outlay of over $500 billion for fiscal year 2014, the Pentagon represents which type of B2B organization?
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government
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Which of the following statements regarding the B2B buying process is true?
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In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.
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The business-to-business buying process is initiated by which of the following steps?
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need recognition
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he acronym RFP, when used by those involved in business-to-business buying, stands for
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request for proposals.
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Used by many smaller companies to help streamline procurement or distribution processes, _____ is an Internet site whose purpose is to be a major starting point for users when they connect to the web.
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a web portal
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In the B2B buying process, _____ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer's needs.
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web portals
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In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.
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proposal analysis, vendor negotiation, selection
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What is the final stage in the business-to-business buying process?
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vendor performance assessment
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All of the following are one of the six buying center roles except
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advisor.
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John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation?
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decider
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The individual who controls the flow of information or access to important decision makers serves as the _____ in the buying center.
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gatekeeper
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Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation.
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influencer
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Although she wasn't told this when hired, at her new job Dana noticed that the employees eat lunch at their desks while continuing to work and that on Fridays most everyone dresses casually. These behaviors are most likely part of the
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organizational culture.
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A firm's _____ reflects the set of values, traditions, and customs that guide its employees' behavior.
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organizational culture
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In a(n) _____ buying center, there may be many participants, but one person makes the decision alone.
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autocratic
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In the ABC Automotive manufacturing company, one person is authorized to make a decision, but input from others is gathered before doing so. This is reflective of which type of buying center?
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consultative
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At the Fancy Print Area Rug company, all members of the team must reach a collective agreement that they can support a particular purchase. This is reflective of a(n) ________ buying center.
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consensus
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Autocratic buying centers are characterized by
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a single decision maker.
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The ______________ social network has more than 400 million members worldwide, about 10 percent of whom are college students or recent graduates.
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LinkedIn
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Although social media are used to build relationships in B2B contexts, the majority of B2B marketers use _____ for their marketing efforts.
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white papers
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Most B2B buying situations can be categorized into three types: straight rebuys, modified rebuys, and
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new buys.
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The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a _____ situation.
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new buy
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At the Unique Photo Frame company, the buying center proceeds through all six steps in the buying process and involves many people in the buying decision. This is a ________ situation.
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new buy
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The university will purchase new computers during the summer to update its computer labs. Although the new computers will be more advanced in terms of their technology, the purchase itself will involve some of the same considerations as those used for previous purchases. This is an example of which of the following types of buying situation?
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modified rebuy
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When Kinko's replenishes its supply of copy paper, it most likely involves a _____ situation.
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straight rebuy
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Maurice is the buyer at the Upper End Clothing Company. He is often the only member of the buying center involved in the process. This is an example of a
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straight rebuy.
