Question 1

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

Accepted Answer

The answer of Which type of buying situation would be...

Question 2

Define organizational buying.

Accepted Answer

The answer of Define organizational buying....

Question 3

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?

Accepted Answer

The answer of Researchers have found that buyer-supplier relationships differed...

Question 4

What are the benefits of e-procurement?

Accepted Answer

The answer of What are the benefits of e-procurement?...

Question 5

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?

Accepted Answer

The answer of As part of the buyer selection process,buying...

Question 6

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?

Accepted Answer

The answer of BEL is a small seller of specialized...

Question 7

Explain the concept of derived demand.

Accepted Answer

The answer of Explain the concept of derived demand....

Question 8

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

Accepted Answer

The answer of Buying centers usually include several participants with...

Question 9

What do you understand by "blanket contract"?

Accepted Answer

The answer of What do you understand by "blanket contract"?...

Question 10

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?

Accepted Answer

The answer of Systems selling is a key industrial marketing...

Question 11

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

Accepted Answer

The answer of List the seven roles played by members...

Question 12

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

Accepted Answer

The answer of In systems buying,governments often solicits bids from...

Question 13

Why are companies increasingly reducing the number of suppliers?

Accepted Answer

The answer of Why are companies increasingly reducing the number...

Question 14

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?

Accepted Answer

The answer of E-procurement Web sites are organized around two...

Question 15

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?

Accepted Answer

The answer of As a seller in the business market,you...

Question 16

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.

Accepted Answer

The answer of The business market consists of all the...

Question 17

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

Accepted Answer

The answer of If you were a purchasing agent facing...

Question 18

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

Accepted Answer

The answer of With reference to online buying,what are vertical...

Question 19

Researchers have found that buyer-supplier relationships could be classified into eight different categories.What category would be appropriate for a relationship where,although bonded by a close,cooperative relationship,the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange?

Accepted Answer

The answer of Researchers have found that buyer-supplier relationships could...

Question 20

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?

Accepted Answer

The answer of In the buygrid framework model,where the major...

Quiz 7: Analyzing Business Markets