Question 1

In the buygrid framework model, where the major stages of the industrial buying process are listed and characterized, supplier selection is an important process. What follows supplier selection and what occurs in this phase?

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Question 2

What are the benefits of e-procurement?

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Question 3

If you were a purchasing agent facing a modified rebuy situation, how would you describe that situation?

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Question 4

E-procurement Web sites are organized around two types of e-hubs. If you were in the advertising business and were seeking to take advantage of e-procurement, what type of e-hub should be constructed by your company?

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Question 5

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects. Competition for these projects is fierce. What are the main areas of competition for these project engineering firms?

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Question 6

With reference to online buying, what are vertical markets? Give an example of a vertical market.

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Question 7

As a seller in the business market, you have promised your customers that you have corporate credibility as one of your corporate goals. What three factors will have some bearing on whether you will be able to meet your goal and promise?

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Question 8

Researchers have found that buyer-supplier relationships differed according to four factors: availability of alternatives; importance of supply; complexity of supply; and supply market dynamism. Based on these four factors, they classified buyer-supplier relationships into eight different categories. What are those categories?

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Question 9

Explain the concept of derived demand.

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Question 10

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others. List the major industries that make up the business market.

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Question 11

Why are companies increasingly reducing the number of suppliers?

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Question 12

In systems buying, governments often solicits bids from prime contractors. What do prime contractors do?

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Question 13

Define organizational buying.

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Question 14

BEL is a small seller of specialized auto parts, while MES is a large seller of auto parts. Both firms want to approach the same car company with a view to supplying parts to it. How will their approaches differ?

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Question 15

What are the benefits of vertical coordination?

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Question 16

List the seven roles played by members of a buying center.

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Question 17

As part of the buyer selection process, buying centers must decide how many suppliers to use. What might motivate a buyer to use multiple sources?

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Question 18

What do you understand by "blanket contract"?

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Question 19

Which type of buying situation would be preferred if the management wants to minimize decision-making time and effort?

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Question 20

Buying centers usually include several participants with differing interests, authority, status, and persuasiveness. Explain.

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Quiz 7: Analyzing Business Markets