Question 1

Poor performance on a contract may result in a supplier's name being dropped from the buying organization's

Accepted Answer

A supplier's name may be dropped from the bidder's list if they perform poorly on a contract, as this list includes suppliers eligible to bid for future contracts.

Question 2

General Electric manufactures electric motors for its clothes dryers.The firm uses a formal vendor rating system to evaluate suppliers and notify those whose parts did not meet its quality standards.If a supplier fails to correct the problem,GE will drop the firm as a future supplier.Which stage in the organizational buying decision process would GE make this evaluation?

Accepted Answer

GE would make this evaluation in the postpurchase behavior stage because they are evaluating their suppliers after they have already made a purchase and received the parts from the supplier. They are assessing the supplier's performance and deciding if they want to continue doing business with them in the future.

Question 3

As in the consumer decision process,evaluation occurs in the organizational buying decision process,but it is more formalized and often more sophisticated.All items purchased are examined in a formal product acceptance process.The performance of the vendor is also monitored and recorded.This evaluation occurs during the __________ stage.

Accepted Answer

The answer of As in the consumer decision process,evaluation occurs...

Question 4

When selecting new basketball uniforms for the 30 NBA teams,Champion,Nike,Puma,Reebok,Russell,and Starter sports apparel manufacturers were asked to submit quotes on how much each would charge to provide these NBA teams with new uniforms.These qualified sports apparel manufacturers were most likely comprised the NBA's

Accepted Answer

The group of sports apparel manufacturers who were asked to submit quotes is most likely the bidder's list, which is a list of potential suppliers who are invited to make a bid or proposal.

Question 5

A list of firms believed to be qualified to supply a given item is referred to as a

Accepted Answer

A list of firms believed to be qualified to supply a given item is commonly known as a bidder's list. This list is created by the procurement professionals who use their expertise to shortlist the most suitable suppliers based on their capabilities, experience, and past performance.

Question 6

Business-to-business electronic commerce over the Internet

Accepted Answer

Business-to-business electronic commerce over the Internet is much larger than consumer electronic commerce. According to a report by Forrester Research in 2018, B2B e-commerce in the United States would reach $1.8 trillion by 2023, or four times the size of B2C eCommerce.

Question 7

During the next-to-last stage of the organizational buying decision process,the organization

Accepted Answer

The answer of During the next-to-last stage of the organizational...

Question 8

At which stage of the organizational buying decision process would purchasing assess the financial status of potential suppliers?

Accepted Answer

Assessing the financial status of potential suppliers is a part of the alternative evaluation stage, where purchasing evaluates the different suppliers against each other based on various factors like financial stability, quality of product/service, reputation, etc.

Question 9

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information,money,products,and services are referred to as

Accepted Answer

The term "e-marketplace" is commonly used to describe online trading communities that enable the exchange of goods or services between organizations in a real-time environment. These platforms bring buyers and sellers together, providing a centralized location for buying, selling, and exchanging goods or services. Examples include Alibaba, Amazon Business, and eBay for Business.

Question 10

What is the last stage of the organizational buying decision process?

Accepted Answer

The last stage of the organizational buying decision process is postpurchase behavior. This stage involves evaluating the purchased product or service and the supplier's performance. It is important for the supplier to provide follow-up service and support to ensure customer satisfaction and to initiate future sales opportunities.

Question 11

Which of the following is indicative of the purchase decision stage of the organizational buying decision process?

Accepted Answer

The answer of Which of the following is indicative of...

Question 12

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their production capacity?

Accepted Answer

The answer of At which stage of the organizational buying...

Question 13

Online buying in organizational markets is prominent because Internet technology

Accepted Answer

Online buying in organizational markets is prominent because Internet technology can convey timely information quickly, allowing companies to make informed decisions and streamline their purchasing processes.

Question 14

A bidder's list refers to

Accepted Answer

A bidder's list is a list of firms that have been identified as qualified to supply a specific item or service. It is used in the procurement process to help ensure that potential bidders are prequalified and have a certain level of experience and capability to meet the needs of the purchaser.

Question 15

Marketers who want to increase their chances of selling products and services to organizations must understand its needs,get on its bidder's list,find the right people in its buying center,and ultimately

Accepted Answer

To increase their chances of selling products and services to organizations, marketers must provide value to organizational buyers. This means understanding their needs, getting on their bidder's list, finding the right people in their buying center, and ultimately offering a solution that meets their specific requirements. Simply adapting the product or service to offer the lowest price possible or beating out all other possible vendors is not a sustainable strategy and may not result in long-term success. Additionally, signing a binding contract that prohibits changes to the product, time line, or quantities ordered may not be feasible or desirable for either party. Establishing an e-marketplace to conduct traditional and reverse auctions is also not the best choice, as this may not align with the organization's procurement processes or requirements.

Question 16

The concept in organizational buying that corresponds most closely to a consumer's consideration set in the consumer purchase decision process is the

Accepted Answer

The bidder's list in organizational buying is similar to a consumer's consideration set, as it includes the potential suppliers that an organization considers for a purchase.

Question 17

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their quality control?

Accepted Answer

The answer of At which stage of the organizational buying...

Question 18

At which stage of the organizational buying decision process would a firm use key organizational buying criteria such as price,quality,delivery time,and technical capability to select a supplier?

Accepted Answer

At the purchase decision stage of the organizational buying decision process,the firm selects its organizational buying criteria such as price,quality,delivery time,and technical capability to select a supplier.Then they negotiate terms and award a contract.

Question 19

Firms selected from __________ are sent a quotation request from the purchasing agent describing the desired quantity,delivery date(s),and specifications of the components or assemblies.

Accepted Answer

The answer of Firms selected from __________ are sent a...

Question 20

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Accepted Answer

The answer of At which point of the organizational buying...

Quiz 6: Understanding Organizations As Customers