Question 1

One of the most important aspects in creating a successful function is a pre-function meeting between the hotel staff and meeting planner.

Accepted Answer

A pre-function meeting allows for clear communication and ensures that all parties involved are on the same page regarding the details and logistics of the event. This can help prevent any miscommunications or issues that may arise during the event itself.

Question 2

In most associations the elected president is in charge of arranging association meetings.

Accepted Answer

In most associations, the responsibility of arranging meetings typically falls to a secretary or a designated meeting coordinator, not the president.

Question 3

Deciders are those individuals that will actually use the product being purchased.

Accepted Answer

Deciders are the individuals in the purchasing process who have the authority to ultimately choose the product or supplier. They may not always be the end users of the product.

Question 4

One feature of attendance at a corporate meeting is having a long lead time in planning a corporate meeting.

Accepted Answer

The answer of One feature of attendance at a corporate...

Question 5

Provide a brief explanation of the major influences on business buyers.

Accepted Answer

The answer of Provide a brief explanation of the major...

Question 6

What are the typical roles played by the various participants in the organizational buying process?

Accepted Answer

The answer of What are the typical roles played by...

Question 7

Conventions are a specialty market requiring few meeting facilities.

Accepted Answer

Conventions typically require larger meeting facilities to accommodate large numbers of attendees and a variety of events and exhibitions.

Question 8

________ is a command performance for employees of a company.

Accepted Answer

A command performance typically refers to a mandatory meeting or event that employees are required to attend, often for important business or organizational reasons. While conventions, meetings, and incentive travel can all involve company employees, they may not necessarily be mandatory or considered a command performance. Therefore, the best choice is C) a corporate meeting, which fits the definition of a command performance.

Question 9

A convention can be a major source of revenue for the sponsoring organization.

Accepted Answer

Conventions can attract a large number of attendees, exhibitors, and sponsors, which can generate significant revenue for the organization. This revenue can come from registration fees, sponsorships, booth rentals, merchandise sales, and more.

Question 10

The Convention Industry Council (CIC) is made up of thirty member organizations that represent both buyers and suppliers to the meetings industry. They recently developed the APEX system, which stands for:

Accepted Answer

APEX stands for Accepted Practices Exchange, which is a platform for sharing best practices and standards in the meetings industry.

Question 11

Demand for consumer goods is derived from demand for business goods.

Accepted Answer

Demand for business goods is derived from demand for consumer goods, as businesses produce goods and services to meet consumer needs.

Question 12

Culture and customs are types of forces that are seen as major influences on business buying behavior.

Accepted Answer

Culture and customs play a significant role in shaping business buying behavior. For example, some cultures prioritize building personal relationships before making business deals, while others may prioritize efficiency and time management. Customs, such as gift-giving or conducting business over a meal, can also impact buying behavior. Therefore, understanding cultural and custom influences is crucial in conducting successful business transactions.

Question 13

Describe the eight steps in the business buying process.

Accepted Answer

The answer of Describe the eight steps in the business...

Question 14

In current business buying there is a trend toward single sourcing, or using one supplier.

Accepted Answer

Single sourcing is becoming increasingly popular in business buying as it can provide benefits such as cost savings, better quality control, and more efficient communication and coordination with suppliers. However, it also carries some risks, such as dependence on a single supplier and potential supply chain disruptions.

Question 15

Compared with consumer purchases, a business purchase usually involves more buyers and more professional effort.

Accepted Answer

Business purchases usually involve multiple decision makers, such as managers, executives, and purchasing agents, who evaluate the purchase based on factors such as cost, quality, and functionality. In addition, business purchases often require more professional effort, such as researching vendors, negotiating contracts, and evaluating proposals.

Question 16

Users, Influencers, Approvers, Buyers, Gatekeepers are participants in the:

Accepted Answer

These roles are associated with the Organizational Buying Process, which outlines the different participants involved in making purchasing decisions within an organization. Each role has a specific function, from identifying needs (Users) to making the final purchase decision (Buyers).

Question 17

Will a school system pension fund with investments across all continents be considered as a SMERF group?

Accepted Answer

SMERF stands for social, military, educational, religious and fraternal group. A school system pension fund would fall under the educational category but it would not necessarily be considered a SMERF group as it is not an organized group with a specific purpose for gathering or traveling together. Additionally, the fact that it has investments across all continents does not make it a SMERF group.

Question 18

What does a company whose product's demand is derived face in the market?

Accepted Answer

The answer of What does a company whose product's demand...

Question 19

There are four main categories of group business. Briefly describe each.

Accepted Answer

The answer of There are four main categories of group...

Question 20

In an Organizational Buying process, ________ select product requirements and suppliers.

Accepted Answer

Deciders, which may include purchasing managers or executives, are responsible for selecting both the product requirements and suppliers. Buyers may be involved in negotiating and making the actual purchases, while users may provide input on the desired product features, but the ultimate decision falls on the deciders. Approvers may also be involved in the process, but their role is typically to review and authorize the final purchase decision rather than selecting the product requirements and suppliers.

Quiz 7: Organizational Buyer Behavior of Group Market