Question 1

Typically, B2B buyers ask potential suppliers to

Accepted Answer

B2B buyers often ask potential suppliers to submit formal proposals outlining their capabilities, products, and pricing. This allows the buyer to compare and evaluate multiple suppliers before making a purchasing decision.

Question 2

When Goodwish Marketing decided to upgrade its computer network, many people were involved in the decision. In B2B buying systems, decisions are often made

Accepted Answer

In B2B buying systems, decisions are typically made by a committee after considerable deliberation to ensure that the purchase meets the organization's needs and budget constraints.

Question 3

The process through which organizations invite alternative vendors or suppliers to bid on supplying their required components or specifications is formally referred to as

Accepted Answer

The process described in the question is formally known as a request for proposals (RFP). This is a document that outlines the specifications or requirements for a particular product or service and invites vendors or suppliers to submit a proposal detailing how they can meet those requirements. The RFP process is often used by organizations to ensure that they are getting the best possible value for their money and to encourage competition among potential suppliers.

Question 4

Melanie is the director of human resources for a small manufacturing firm. She has a strong personal interest in technology, and is known throughout the firm as the one with the most knowledge about new kinds of communications technologies. If the firm decides to upgrade its network, Melanie will probably function in what role in the firm's buying center?

Accepted Answer

Melanie's knowledge and interest in technology gives her the ability to influence the decision-making process in regards to upgrading the firm's network. As the director of human resources, she may not have the authority to make the final decision, but her input and expertise will likely influence the decision made by the buying center.

Question 5

The final stage in the business-to-business buying process is to

Accepted Answer

The final stage in the business-to-business buying process is to assess vendor performance, ensuring that the vendor's products or services meet the agreed-upon standards and requirements. This step is crucial for maintaining quality and for making informed decisions about future purchases or contracts.

Question 6

After a series of devasting storms, many states reevaluated the structures built along their coastal areas to determine whether they met building codes, as well as what repairs and new reinforcements were needed to help buildings withstand damage from future storms. Construction companies had to pull together a materials list and provide various suppliers with

Accepted Answer

Construction companies needed to provide suppliers with product specifications, which detail the materials and standards required for construction projects.

Question 7

Charlie is hoping to get a chance to bid on supplying key components to Ned's business. He is eager to move forward, but he must wait until

Accepted Answer

Charlie cannot move forward until Ned has developed a list of product specifications so that Charlie can accurately bid on supplying the key components. Without these specifications, Charlie would not know what to quote Ned for the components. While the other options may impact Charlie's ability to secure the bid eventually, they are not as immediately necessary as having the product specifications.

Question 8

As purchasing manager for Avalon Electronics, Carrie is required to submit a vendor performance analysis every three months. To meet this requirement, Carrie will most likely

Accepted Answer

To submit a vendor performance analysis, Carrie needs to assess the performance of the vendors based on certain performance factors. The best way to do this is by specifying and weighting the performance factors and scoring the vendors based on those factors. This will provide a comprehensive analysis of vendor performance and help in making informed decisions. Other options, such as interviewing vendors, developing an RFP, recruiting new suppliers, or using a modified rebuy form, may not provide the necessary analytical framework for the vendor performance assessment.

Question 9

After need recognition, a business develops ________ that suppliers might use to develop their proposals.

Accepted Answer

After need recognition, a business typically develops product specifications that describe the specific requirements and characteristics of the desired product or service. These specifications serve as guidelines for suppliers as they develop their proposals, helping them to customize their offerings to meet the customer's precise needs. Derived demand refers to the demand for a product or service that arises from the demand for another product or service that uses it as an input, and is not directly relevant to this stage of the buying process. Initiator instructions, determinant attributes, and focal alternatives are not commonly associated with this stage of the buying process either.

Question 10

An Internet site whose purpose is to be a major starting point for users when they connect to the web and is often used by smaller companies in the RFP process is referred to as a(n)

Accepted Answer

A web portal is a website that serves as a major starting point for users when they connect to the web. It offers a variety of resources and services such as search engines, email, news, and entertainment. It is often used by smaller companies in the RFP (Request for Proposal) process to find potential vendors or suppliers.

Question 11

After need recognition and product specification, many firms using the B2B buying process

Accepted Answer

After need recognition and product specification in the B2B buying process, firms typically issue a request for proposals (RFP) from invited suppliers to gather and compare offerings before proceeding to further steps such as proposal analysis or vendor negotiation.

Question 12

After posting an RFP for telecommunications equipment, USF Corporation received six proposals from qualified vendors. Next, USF will

Accepted Answer

After receiving the proposals, the next step for USF Corporation would be to evaluate the proposals and narrow down the choices to a few suppliers. This will involve careful analysis of each proposal to assess its suitability based on factors such as pricing, quality, reliability, and customer service, among others. Once the choices are narrowed down, USF can proceed to conduct further evaluations and negotiations before finally selecting a vendor.

Question 13

In most large organizations, several people are responsible for making a purchase decision. This group is called the

Accepted Answer

The group responsible for making a purchase decision in most large organizations is called the buying center.

Question 14

The buying center for USF Corporation is in the process of discussing price, quality, and delivery schedules with potential suppliers. They are in the ________ stage of the business-to-business buying process.

Accepted Answer

The vendor negotiation stage involves discussing price, quality, and delivery schedules with potential suppliers. This stage occurs after the product specifications have been determined and suppliers have been selected for consideration. Need recognition occurs at the beginning of the buying process, RFP (request for proposal) is a process used to invite suppliers to submit a proposal, and vendor performance assessment occurs after a purchase has been made.

Question 15

When you purchase a book on Amazon, you generally have two choices: Buy it directly from Amazon or purchase it through Amazon but from a third-party vendor. If you go the direct route, Amazon has already purchased the book from a publisher and is holding it in an Amazon fulfillment center-a ________ transaction. If you take the third-party route, Amazon acts as an agent for the supplier and takes a commission of about 10 percent of the value of the merchandise for the right to sell it on Amazon's platform-a ________ transaction.

Accepted Answer

The answer of When you purchase a book on Amazon,...

Question 16

Frieda has just received a major order from Northrop Corporation for her firm's hydraulic lift equipment. After reviewing the order information, Frieda will

Accepted Answer

Frieda should send an acknowledgment that the order has been received to confirm to Northrop Corporation that their order has been received and is being processed. This helps to establish good communication and ensure all parties are on the same page. The other options, such as rewriting the firm's proposal or submitting a competitive bid, are not necessary at this stage since the order has already been placed. Proceeding straight to vendor analysis or evaluating performance is premature since the order has not even been fulfilled yet.

Question 17

B2B buying decisions are often made by

Accepted Answer

B2B buying decisions often involve a number of people in different roles and departments within the organization. Committees are common in B2B buying decisions as they allow for multiple perspectives and expertise to be considered. Governors are typically higher-level executives who have final decision-making authority but are not always involved in the day-to-day decision-making process. Influencers can play a role in B2B buying decisions by offering their opinions and expertise, but they may not have decision-making authority. Resellers are a type of customer in B2B sales who purchase products to sell to consumers or other businesses, but they are not typically involved in the buying decision for their own organization. Consumers are individuals who purchase products for personal use and are not relevant to B2B buying decisions.

Question 18

At many universities, education faculty members were among the first to ask for course management systems that would allow them to keep track of their students' grades and progress more efficiently. These faculty members were ________ in the buying center.

Accepted Answer

Initiators are the ones who first identify the need for a product or service, which in this case, are the education faculty members who recognized the need for course management systems to track students' grades and progress.

Question 19

Judy knows it is important to approach business buyers at the right time, often during the first stage of their buying process, which is

Accepted Answer

Need recognition is the first stage of the business buying process and involves the buyer realizing they have a problem or need for a product or service. Judy recognizes the importance of approaching buyers at this stage before they have progressed too far in their buying process. The RFP process, proposal analysis, vendor negotiation and selection, and product specification are further stages in the buying process that occur after need recognition.

Question 20

During the RFP stage, B2B buyers

Accepted Answer

During the RFP (Request for Proposal) stage, B2B buyers invite suppliers to bid on supplying what is requested. This is done to compare and evaluate the proposals from different suppliers and select the one that best meets their requirements. The other options listed are part of different stages in the B2B buying process.

Quiz 7: Business-To-Business Marketing