Question 1

The first step (buyphase)in the straight rebuy buyclass is ________.

Accepted Answer

In a straight rebuy, the buyer simply reorders a product that has been purchased before without any changes in specifications or supplier. Therefore, the first step in the buyphase of a straight rebuy buyclass is product specification. The other options (problem recognition, general need description, supplier search, and proposal solicitation) are not necessary in a straight rebuy as the buyer already knows what they need, where to get it, and how much it costs.

Question 2

Business marketers can stimulate problem recognition by ________.

Accepted Answer

Direct marketing tactics such as direct mail, telemarketing, and calling on prospects can be effective in stimulating problem recognition among business customers. This is because these tactics allow marketers to directly communicate with potential customers and highlight issues or pain points that the customer may not have previously considered. Trade directories and consumer advertising are less effective in attracting the attention of business customers, while encouraging the Better Business Bureau to release statistics and requesting testimonials from existing customers may provide useful information but are not specifically designed to stimulate problem recognition.

Question 3

With respect to e-procurement,Coca-Cola,Sara Lee,Kraft,PepsiCo,P&G,and several other companies joined forces to form a ________ called Transora to use their combined leverage to obtain lower prices for raw materials.

Accepted Answer

The given scenario describes a group of companies joining forces to obtain lower prices for raw materials through e-procurement. This is an example of a buying alliance, which is a group of companies that pool their purchasing resources to achieve volume discounts and lower prices from suppliers. Choices A, B, and C do not accurately describe the situation, and choice E is an inappropriate term that implies secrecy and illegal behavior.

Question 4

Most purchasing professionals describe their jobs as more ________,technical,team oriented,and involving more responsibility than ever before.

Accepted Answer

The description given in the statement emphasizes the strategic and team-oriented nature of the job, indicating a shift towards more responsibility and a focus on long-term planning. This aligns with the definition of a strategic role, where purchasing professionals are expected to contribute to the organization's overall strategy and goals. None of the other options are directly implied by the given statement.

Question 5

A new-task buyclass decision begins with which of the following buyphases

Accepted Answer

The new-task buyclass decision begins with problem recognition, which involves the identification of a need that cannot be met by existing resources. The other buyphases (B-E) typically follow after problem recognition.

Question 6

Small sellers should concentrate their marketing efforts on reaching ________.

Accepted Answer

Small sellers should focus on key buying influencers because these individuals have the power to sway the purchasing decision, making them crucial targets for marketing efforts.

Question 7

In the purchasing decision process,the ________ are those who have the power to prevent sellers or information from reaching members of the buying center.

Accepted Answer

Gatekeepers are individuals who control the flow of information to members of the buying center. They may include receptionists, personal assistants, IT staff, and others who filter out unsolicited contact from vendors and other sources. Gatekeepers can be a significant obstacle to sellers trying to reach the decision-makers in a company, and so it is important to identify them and try to establish a relationship of trust and cooperation. Buyers, initiators, approvers, and deciders are all members of the buying center, but only gatekeepers have the power to block access to them.

Question 8

Business buyers are ultimately purchasing solutions to two problems: the organization's economic and strategic problem and ________.

Accepted Answer

Business buyers often have personal motivations, such as individual achievement and reward, in addition to addressing the organization's economic and strategic problems.

Question 9

The typical buying center has a minimum of ________ members.

Accepted Answer

The answer of The typical buying center has a minimum...

Question 10

Identifying good leads and converting them to sales requires the whole marketing and sales organization to work in a coordinated,multichannel approach in the role of ________ to prospective customers .

Accepted Answer

Becoming a trusted advisor to prospective customers means establishing a relationship of trust and providing them with the necessary information and support to make informed buying decisions. This requires a coordinated multichannel approach from the marketing and sales team to effectively identify and nurture good leads. Product specification, price de-escalation, systems selling, and strategic alliances are important components of the overall approach, but the key to converting leads to sales is building trust and establishing a relationship with the customer.

Question 11

________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g.,dams,pipelines,et cetera).

Accepted Answer

Systems selling is a key industrial marketing strategy where a company sells a complete solution to a customer's problem, often involving large-scale industrial products like dams or pipelines.

Question 12

In principle,business buyers seek to ________ in relation a market offering's costs.

Accepted Answer

Business buyers seek to obtain the highest benefit package in relation to a market offering's costs. This means that they are looking for the most value for their money, rather than simply the lowest prices or eliminating partners' shares in profits. They may also consider spreading risks or outsourcing, but ultimately their goal is to maximize the benefits they receive from their purchases.

Question 13

Webster cautions that ultimately,________ make purchasing decisions.

Accepted Answer

Webster cautions that the ultimate decision-makers in purchasing decisions are individuals, not organizations.

Question 14

In the past,what position did purchasing departments hold in the management hierarchy of most organizations

Accepted Answer

In the past, purchasing departments were often considered to be at a low level in the management hierarchy despite managing more than half of the company's costs. This was because their focus was primarily on transactional activities, rather than strategic decision-making. However, in recent years, the role of the purchasing department has evolved to become more strategic, leading to an increase in their status within organizations.

Question 15

If Ampex Support Systems is the single supplier for a local manufacturing company's MRO (maintenance,repair,operating)supplies and needs,Ampex Support Systems is considered as providing ________ for the manufacturer.

Accepted Answer

Ampex Support Systems is providing systems contracting, which involves a single supplier managing all the maintenance, repair, and operating supplies for a company, streamlining the procurement process.

Question 16

Robinson and his associates have identified eight stages and called them buyphases.This model is called the ________ framework.

Accepted Answer

The term "buyphases" is specifically associated with the buygrid framework, which was developed by Robinson and his associates. The other options are not directly related to this model.

Question 17

________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

Accepted Answer

The buying center refers to all parties involved in the purchasing decision-making process, including decision makers, influencers, gatekeepers, and buyers. These parties share common goals and risks associated with their decisions, such as aligning with organizational objectives or mitigating potential losses. Therefore, choice A is the best answer. The other options (B, C, D, E) do not adequately describe the group of parties that make up the buying center.

Question 18

The new,more strategically oriented purchasing departments have a mission.Which of the following most accurately describes that mission

Accepted Answer

The mission of the new, more strategically oriented purchasing departments is to seek the best value from fewer and better suppliers. This suggests that they are looking for quality over quantity, and are willing to establish long-term relationships with their suppliers in order to achieve that value. Option A is incorrect because the mission is not solely focused on making profit and avoiding entanglements. Option B is incorrect because interdependence may not always be the best approach. Option D is incorrect because outsourcing the supply function is not necessarily the mission of the new purchasing department. Option E is incorrect because abandoning all strategies except for systems selling and buying is too narrow a focus for the purchasing department's mission.

Question 19

In the purchasing decision process,the major role of ________ is in selecting vendors and negotiating.

Accepted Answer

Buyers play a major role in the purchasing decision process by selecting vendors and negotiating. Gatekeepers are responsible for controlling access to information and resources within the buying organization. Initiators are responsible for recognizing a need for a product or service. Approvers are responsible for authorizing the purchase decision. Deciders are responsible for making the final decision on the purchase.

Question 20

In the purchasing decision process,the ________ are those who request that something be purchased.They may be users or others in the organization.

Accepted Answer

Initiators are the ones who request that something be purchased. They may be users or others in the organization.

Quiz 7: Analyzing Business Markets

The first step (buyphase) in the straight rebuy buyclass is ________.