Question 1

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

Accepted Answer

In B2B buying systems, decisions are often made by a committee after considerable deliberation. This is because B2B purchasing decisions typically involve a large number of stakeholders and factors, including budget constraints, competitive landscape, and specific company needs and requirements. As a result, decision-making tends to be a collaborative and lengthy process involving many individuals in the organization.

Question 2

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 one of the first to hear about and use 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 strong personal interest in technology makes her an influencer in the firm's buying center. She may not have the final decision-making authority, but her opinions and recommendations will carry weight in the decision-making process.

Question 3

After Hurricane Katrina, many states reevaluated their coastal area building requirements. These new building codes represented __________ that building materials companies used to develop new products.

Accepted Answer

The new building codes represent product specifications that building materials companies used to develop new products. Product specifications are detailed descriptions of the characteristics of a product that are required in order for it to meet a particular standard or to fulfill specific requirements, in this case, the building codes.

Question 4

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 5

Typically, B2B buyers ask potential suppliers to

Accepted Answer

B2B buyers typically ask potential suppliers to submit formal proposals as part of their procurement process. This allows the buyer to evaluate the different options and select the supplier that offers the best value proposition for their needs. Writing the RFP for the buyer, sponsoring interviews with final customers, always being involved in reselling, and organizing into selling cooperatives are not common activities for suppliers during the procurement process.

Question 6

B2B buying decisions are often made by

Accepted Answer

B2B buying decisions are often made by committees, which consist of multiple individuals from different departments or areas within a business who have input and influence over the decision-making process. These individuals may include decision-makers, influencers, and users within the organization. Governors and resellers may also be involved in the process, but they are not typically the primary decision-makers. Consumers are not involved in B2B buying decisions as they are individuals who make decisions for personal use.

Question 7

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

Accepted Answer

After need recognition, a business develops product specifications that suppliers can use as a guideline or requirement to develop their proposals. Product specifications detail the features, qualities, and other requirements that the product or service must meet to satisfy the needs of the business.

Question 8

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

The first step Frieda should take after receiving a major order is to send an acknowledgement that the order has been received. This will confirm the details of the order and begin the process of fulfilling it. The other options listed may be necessary later in the order fulfillment process, but acknowledging receipt of the order is the first and most important step.

Question 9

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 buying center is negotiating with potential suppliers, indicating that they have already recognized their need and specified the product requirements. They are now in the stage of vendor negotiation, which is focused on determining the best price, quality, and delivery conditions from the suppliers. RFP (request for proposal) is a stage before vendor negotiation, in which the company requests proposals from potential suppliers. Vendor performance assessment is a post-purchase stage that occurs after the product or service has been received and used, to evaluate the supplier's performance.

Question 10

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 11

Raycom Construction needs heavy-duty equipment to install a new pipeline in northern Alaska. Raycom's engineers have been asked to provide detailed specifications and recommendations for the equipment needed. The Raycom engineers will primarily play the __________ role in the company's buying center.

Accepted Answer

The Raycom engineers are responsible for providing detailed specifications and recommendations for the equipment needed, indicating that they are likely playing an influencer role in the buying center.

Question 12

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 needs to wait until Ned develops a list of product specifications before he can bid on supplying key components to Ned's business. Without the product specifications, Charlie would not know what to bid on.

Question 13

Which of the following is NOT one of the roles typically played by one of the members of a buying center?

Accepted Answer

The answer of Which of the following is NOT one...

Question 14

During the RFP stage, B2B buyers

Accepted Answer

During the RFP stage, B2B buyers invite suppliers to bid on supplying what is requested. This is done after the need recognition analysis has been completed and the firm has identified its requirements. The RFP process then allows suppliers to submit proposals and bids for fulfilling the firm's needs.

Question 15

Judy knows it is important to approach business buyers at the right time, which is often during the first stage of their buying process. She stays in touch with her customers, hoping to find out when they are going through

Accepted Answer

Need recognition is the first stage of the business buying process, where buyers recognize a problem or need that can be solved with a product or service. Therefore, Judy's goal of approaching business buyers at the right time aligns with the need recognition stage.

Question 16

When reviewing her firm's business buying process, Carla noticed a company requirement that it must have at least three qualified bids from suppliers for any purchase over $50,000. This requirement is designed to

Accepted Answer

The requirement of having at least three qualified bids from suppliers for any purchase over $50,000 is designed to encourage the bidders to offer their best terms, as they know they are competing with other suppliers. This promotes competition and can lead to better deals for the company.

Question 17

While consumers evaluate their decisions and sometimes experience postpurchase dissonance, business buyers

Accepted Answer

The answer of While consumers evaluate their decisions and sometimes...

Question 18

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

Accepted Answer

To submit a vendor performance analysis every three months, Carrie would likely need to specify and weight performance factors and score the vendors. This would allow her to objectively assess and compare the performance of different vendors. Interviewing vendors and seeking their feedback is useful, but it may not provide a complete picture of vendor performance. Developing an RFP for vendor analysis may be more appropriate for selecting new vendors, rather than evaluating existing ones. Recruiting new suppliers is not necessary if the current vendors are meeting performance expectations. Using a modified rebuy vendor form may not provide enough detail to conduct a thorough performance analysis.

Question 19

Frequently a B2B buyer will post its RFP

Accepted Answer

B2B buyers typically post their RFPs on their company's website for interested vendors to review and submit proposals.

Question 20

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

Accepted Answer

After receiving proposals from vendors, the best choice is to evaluate the proposals and narrow down the choice to a few suppliers. This allows for a more in-depth analysis of the proposals and a better understanding of which vendors can meet the specific needs of USF Corporation. Conducting vendor analysis may also be necessary in this step. However, reevaluating the firm's needs and recognizing obstacles are typically done before posting an RFP, not after receiving proposals. Giving one vendor a purchase order without evaluating all proposals and narrowing down the choices is not a best practice for procurement.

Quiz 7: Business-To-Business Marketing