Marketing 340 Chapter 7 – Business-to-Business Marketing – Flashcards

Which are NOT steps in the formal business-to-business buying process? - product specification - post-purchase evaluation - RFP process - Need recognition - Commercialization

Some firms buy raw materials, components, and parts that allow them to make their own goods. These firms are known as ___________________ or producers.

Manufacturers, resellers, institutions, and governements are considered to be the main organizations that make up ________________-to-___________________ markets.

When Hertz Rent-a-Car decides to expand its fleet, several companies as well as consumers will be involved. Financial services will be provided by banks, and the actual fleet of cars will come from auto manufacturers. Hertz will rent the cars to consumers. In this scenario, which of the following are involved in B2B marketing? (Choose all that apply) - Banks, financing Hertz's car purchases - Auto manufacturers, selling cars to Hertz - Consumers renting the cars - Hertz, renting the cars to consumers

A consumer goes to Toys 'R' Us to get her son a birthday gift. This is an example of a business-to-________________ transaction.

_____________-to-_____________ marketing refers to the process of buying/selling goods/services for use in producing other goods and services, for consumption by the buying organization, and/or for resale by wholesalers and retailers.

Which of the following would be considered appropriate methods for a firm to use when engaging in the request for proposals (RFP) process? - The buying firm posting its RFP needs on its own website - Contacting consumers and asking for their specifications - Copying the competitors' specifications - Contacting potential suppliers directly

In B2B marketing, companies often communicate via specialized web portals. Which of the following are among the advantages of using these portals? - Reduced paperwork - lower shipping costs - streamlined procurement - simplified negotations

Derived Demand

In stage 4 of the buying process, firms will often negotiate with suppliers over the key terms of the sale. Which of the following issues are frequently discussed within these negotiations? - Financing - Communications - Price - Quality - Risk Assessment

Firms such as Toyota use formalized assessments of vendors' performances in B2B transactions. Identify which of the following steps should be taken by Toyota. - Gets the overall performance by multiplying together the scores for the vendor across every issue. - Determines how important each of these issues are - Actually assigns a value to each of these issues (Ex: on a scale from 1-5) - The buying team decides the evaluation will be lengthy and may not solve every issue - Buying team creates a list of issues important in the evaluation of a vendor.

All of the following could be considered part of a firm's B2B marketing plan EXCEPT: - opening a company store to sell direct to consumers - creating an online campaign - presenting at trade shows - buying print advertisements in industry-related magazines

Prior to finalizing a purchase, the procurement department may consult _____________ to ensure that the purchase bein made is suitable for the function it will have in the company. - employees - design team members - customers - competitors

The ______________ social network is primarily used for professional connection building.

When a large corporation sends out an e-mail to all buying center members in which it requests suggestions on which suppliers to use and then bases its decision on the majority, this is reffered to as: - democratic - autocratic - consultative - culture

A(n) _________________ buying center relies on just one person to make a decision but seeks information from many others and integrates it into the decision-making. - Consensus - Consultative - Autocratic - Demographic