Question 1

The B2B buying process tends to be more formal than B2C buying.

Accepted Answer

B2B buying involves multiple decision-makers and a more complex sales process, usually requiring formal contracts and negotiations. B2C buying, on the other hand, is typically more impulsive and is made by individual consumers without the need for a formal procurement process.

Question 2

B2B marketing involves manufacturers,wholesalers,and service firms.

Accepted Answer

B2B (business-to-business) marketing involves companies that sell products or services to other businesses, which includes manufacturers, wholesalers, and service firms.

Question 3

Resellers differ from producers in that resellers significantly alter the form of goods they sell.

Accepted Answer

Resellers do not significantly alter the form of goods they sell. They simply buy goods from producers and sell them to consumers without making any major changes to the product.

Question 4

Business-to-business marketing refers to buying and selling goods or services to consumers.

Accepted Answer

Business-to-business marketing refers to buying and selling goods or services between businesses, not to consumers.

Question 5

In both new buy and straight rebuy situations,several members of a buying center will be intensely involved in the purchasing decision.

Accepted Answer

In a straight rebuy situation, the purchasing decision is often routine and may not involve intense involvement from several members of a buying center, unlike in new buy situations where the decision is more complex and requires input from multiple members.

Question 6

Most B2B buying situations can be categorized into three categories: new buys,structured rebuys,and automatic rebuys.

Accepted Answer

The answer of Most B2B buying situations can be categorized...

Question 7

A buying center whose members reach a decision based on a collective agreement is known as an autocratic buying center.

Accepted Answer

A buying center whose members reach a decision based on a collective agreement is known as a democratic buying center, not an autocratic one. In an autocratic buying center, the decision is made by a single person or a small group of people who hold significant power or influence.

Question 8

When the Toyota Prius first entered the marketplace,dealers kept waiting lists of people wanting one and the factories had to ramp up production and order more raw materials.This is an example of derived demand.

Accepted Answer

This statement describes the principle of derived demand, which occurs when the demand for one product (the Prius) creates demand for the materials and resources needed to produce it.

Question 9

A small business may use a web portal as a means of forming a supply chain that can respond to its needs.

Accepted Answer

A web portal can connect a small business with suppliers, manufacturers, and distributors to form a supply chain that can respond to its needs. This can streamline the purchasing process and help the business to access the products and services it needs to operate effectively.

Question 10

A small business decides to upgrade its aging phone system.The business will probably place a straight rebuy order.

Accepted Answer

A straight rebuy order is when a company simply reorders a product without any modifications or changes to its specifications. In this case, upgrading the phone system would require changes and modifications, so it would not be a straight rebuy.

Question 11

The RFP process is used by buyers to allow customer input into value creation.

Accepted Answer

The RFP (Request for Proposal) process is used by buyers to solicit proposals from potential suppliers or service providers, primarily to evaluate their offerings and capabilities, not specifically to allow customer input into value creation.

Question 12

As the owner of a small business with 60 employees that makes custom floor mats,Paul makes all of the buying decisions.Paul is most likely the user.

Accepted Answer

The answer of As the owner of a small business...

Question 13

Fabricworld buys fabric from China and sells it to clothing manufacturers in the United States.Fabricworld is a retailer.

Accepted Answer

Fabricworld is not a retailer as it is buying fabric from China and selling it to clothing manufacturers in the United States. Instead, it could be considered a wholesaler or supplier.

Question 14

Organizational culture may vary by geography.

Accepted Answer

Organizational culture can be influenced by a variety of factors, including geography, history, and even national culture. Different regions may have different values, attitudes, and customs that impact the way organizations operate and the behaviors of employees.

Question 15

Once a vendor receives an order from a firm,it responds by immediately filling the order.

Accepted Answer

The statement is not always true as the vendor may need some time to process and prepare the order before shipping it out.

Question 16

Formal performance evaluations of the vendor and the products sold generally occur in the B2C buying process.

Accepted Answer

Formal performance evaluations typically occur in the B2B buying process, where businesses are purchasing products or services from other businesses. In the B2C buying process, individual consumers are typically making purchases for personal use and may not conduct formal evaluations of the vendor or product.

Question 17

The final step of the business-to-business buying process is a formal vendor performance analysis.

Accepted Answer

A formal vendor performance analysis is conducted by a buyer in order to evaluate the performance of a vendor based on various criteria such as quality, delivery time, pricing, and customer service. This analysis helps the buyer in assessing the vendor's strengths and weaknesses, and in deciding whether or not to continue doing business with them.

Question 18

An architect working for a large firm requests specific computer software to produce designs,drawings,and other technical information for his clients.The architect probably serves as a gatekeeper in the buying center.

Accepted Answer

The answer of An architect working for a large firm...

Question 19

Public institutions do not engage in B2B relationships.

Accepted Answer

Public institutions do engage in B2B relationships, such as purchasing goods and services from other businesses.

Question 20

The local school district realized it needed to upgrade the computers in the school libraries.This represents the product specification stage of the B2B buying process.

Accepted Answer

The answer of The local school district realized it needed...

Quiz 7: Business-To-Business Marketing