Quiz 7-MKT 300 – Flashcards
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Derived demand
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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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manufacturers
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In B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.
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institutions.
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In terms of business markets, organizations like hospitals that provide goods and services to people in their care are classified as
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Need recognition
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The business-to-business buying process is initiated by which of the following steps?
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web portals
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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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Advisor
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Which of the following is not one of the six buying center roles?
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influencer, decider, buyer, user, gatekeeper, and initiator
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The six roles of the buying center are:
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autocratic
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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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a single decision maker.
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Autocratic buying centers are characterized by
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modified rebuys.
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Most B2B buying situations can be categorized into three types: new buys, straight rebuys, and
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straight rebuys
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In _____, the buyer is often the only member of the buying center involved in the process.
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Institution
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A public school system is an example of which type of B2B organization?
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Government
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The Pentagon spends a huge amount of money on aerospace and defense products. The Pentagon represents which type of B2B organization?
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New Buy
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Consumer purchases product for the first time. Buying decison is likely to be quite involved because the buyer has no experience with product.
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Democratic Buying Center:
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A buying center in which the majority rules in making decisions.
