Question 1

Salespeople play a key role in the B2B market, but rather than calling on customers individually, ________ are being formed to deal with customers' needs more effectively.

Accepted Answer

The answer of Salespeople play a key role in the...

Question 2

President's Choice contacted Cott beverages to negotiate a new contract on PC Cola. They provided Cott with the product specifications and annual volume and requested a quote on the contract. This is an example of

Accepted Answer

The answer of President's Choice contacted Cott beverages to negotiate...

Question 3

Project teams are formed to address customers' needs more effectively. Which of the following individuals plays the biggest role in leadership of the team?

Accepted Answer

The sales representative typically plays the biggest role in leading a project team focused on addressing customer needs, as they are directly involved in understanding and fulfilling those needs.

Question 4

An Internet-based business-to-business marketplace through which participants are able to purchase supplies and services from each other is called

Accepted Answer

The answer of An Internet-based business-to-business marketplace through which participants...

Question 5

Rheo Thompson's chocolate company purchases packaging materials from a supplier who has an Internet marketplace. This is an example of

Accepted Answer

This scenario describes e-procurement, which involves purchasing goods or services over the internet, typically through an online marketplace.

Question 6

A major hospital is planning to upgrade its treatment of kidney disease with the purchase of new dialysis machines. Those responsible for the purchase consider qualifications of prospective vendors during the ________ phase of the organizational buying decision process.

Accepted Answer

During the supplier search phase, the organization identifies and evaluates potential suppliers to determine which ones meet the necessary qualifications and criteria for the purchase.

Question 7

A potential supplier of dialysis machines to a major hospital sends in a sealed bid for evaluation by the buying committee. What is this called?

Accepted Answer

A closed bid is a type of bidding process where the bids are submitted in a sealed format and are only opened and evaluated by the buying committee after the submission deadline.

Question 8

Mr. Longopoulos was on the phone asking a potential supplier for a written quotation on delivering 5,000 crates of wine by November 15. What is he asking for?

Accepted Answer

The answer of Mr. Longopoulos was on the phone asking...

Question 9

What is the first step in the business buying decision process?

Accepted Answer

The first step in the business buying decision process is problem recognition, where the company identifies a need or problem that requires a purchase.

Question 10

A buying organization searches for and qualifies acceptable suppliers by determining if they can provide the product in a steady and reliable manner. In what stage of the buying decision process is this organization?

Accepted Answer

The organization is in the supplier search stage, where it identifies and qualifies potential suppliers to ensure they can provide the product consistently and reliably.

Question 11

A sales rep sends a potential client a written document stating the terms of the price she quoted. What is this document called?

Accepted Answer

A quotation is a formal statement of the price at which a seller is willing to sell goods or services to a buyer, often provided in writing.

Question 12

IBM is evaluating potential proposals from mainframe parts suppliers on the basis of quality, price, delivery, and technical support. IBM is in the ________ stage of the buying decision process.

Accepted Answer

IBM is in the supplier selection stage, where they evaluate proposals based on specific criteria such as quality, price, delivery, and technical support to choose the best supplier.

Question 13

A grocery retailer has received many complaints from customers and cashiers that its checkout plastic bags rip far too easily. The store manager has established the strength and size of the bags that are required to improve the bags for the next order. Which step is this in the buying decision?

Accepted Answer

The store manager has determined the specific requirements for the bags, which involves defining the product specifications needed for the next order.

Question 14

As a final step in the buying process, the buying organization establishes a system of obtaining and evaluating the performance of the supplier's products. This phase is known as

Accepted Answer

The performance review phase involves assessing the supplier's products and services to ensure they meet the organization's standards and requirements.

Question 15

Lutex's computerized inventory system notification alarm has just been triggered because one of the company's raw materials is low. This represents which stage of the organizational buying decision process?

Accepted Answer

The notification alarm being triggered due to low raw materials indicates that there is a problem that needs to be addressed, which is the first stage in the organizational buying decision process known as problem recognition.

Question 16

A series of blueprints and architectural drawings have just landed on the desk of an estimator of a commercial contractor. She will use these documents to prepare a bid for the project. These documents were prepared by the property management team at which stage of the buying decision process?

Accepted Answer

The blueprints and architectural drawings represent the product description stage, where the specific requirements and specifications of the project are detailed for potential contractors to prepare their bids.

Question 17

Resolving customer problems swiftly and practising sound customer relationship management allows sellers to avoid being replaced during which stage of the organizational buying decision process?

Accepted Answer

During the performance review stage, the buyer evaluates the supplier's performance and decides whether to continue the relationship. Swift problem resolution and good customer relationship management can prevent the seller from being replaced.

Question 18

A resident of an office tower wants to renovate the floors it currently occupies. They prepared specifications and distributed these to several contractors. They asked the contractors to prepare a formal written document that includes their price for completing the renovation, with pricing info to be submitted electronically on or before a specific date and time. After this time, submissions will be reviewed and a successful contractor chosen. Which type of proposal has been solicited in this scenario?

Accepted Answer

A closed bid is a process where contractors submit their bids by a specific deadline, and the bids are not disclosed to other bidders. The submissions are reviewed after the deadline, and a contractor is chosen based on the proposals received.

Question 19

Explain, using examples, the concept of outsourcing.

Accepted Answer

The answer of Explain, using examples, the concept of outsourcing....

Question 20

Give the names of five specific organizations in the institutional market.

Accepted Answer

The answer of Give the names of five specific organizations...

Quiz 6: Business-To-Business Marketing and Organizational Buying Behaviour