Question 1

In the supplier search stage of the business buying process,the buyer ranks the importance of reliability,price and other desired characteristics in the product.

Accepted Answer

The answer of In the supplier search stage of the...

Question 2

Buyer and seller are less dependent upon each other in the business buying process than in the consumer buying process.

Accepted Answer

The answer of Buyer and seller are less dependent upon...

Question 3

A problem with the rapidly expanding use of e-purchasing is that it ________.

Accepted Answer

The rapid expansion of e-purchasing can erode decades-old customer-supplier relationships because it eliminates the face-to-face interactions that are important in building and maintaining trust between buyers and suppliers.

Question 4

Environmental,organisational,interpersonal and individual factors all influence business buyer behaviour.

Accepted Answer

Environmental, organisational, interpersonal, and individual factors all play a role in shaping the behaviour of business buyers. Environmental factors refer to the broader economic, political, and cultural context in which the buying process takes place, while organisational factors relate to the structure and culture of the buying organisation. Interpersonal factors involve the personal dynamics between buyers and suppliers, while individual factors refer to the personal characteristics and preferences of the individual buyers themselves.

Question 5

During which stage of the business buying process is a buyer most likely to conduct value analysis,carefully studying components to determine if they can be redesigned,standardised or made less expensive?

Accepted Answer

During this stage, the buyer is gathering information about potential suppliers and evaluating their offerings. Value analysis is a critical part of this evaluation process, as the buyer is looking for ways to reduce costs and increase value. This may involve studying the components of the product to see if they can be redesigned, standardized, or made less expensive.

Question 6

There are ________ stages of the business buying process.

Accepted Answer

The answer of There are ________ stages of the business...

Question 7

Of the different types of buying situations,the modified rebuy presents the fewest decisions for a business buyer to make.

Accepted Answer

In a modified rebuy situation, the business buyers have some experience with purchasing the product or service but are looking to make some changes. This may require significant decision-making, such as evaluating new suppliers or negotiating new contracts. Therefore, the modified rebuy situation can present several decisions for a business buyer to make.

Question 8

Which of the following statements about buying centres is true?

Accepted Answer

The buying centre may include informal participants who are not visible to sellers. The other statements are incorrect: A) The buying centre is not like a standing committee. B) The buying centre roles are not usually displayed on an organisational chart. C) There is no fixed number of employees in a buying centre, and the number of employees varies depending on the purchase. D) The role of an individual can change depending on the purchase.

Question 9

Business markets are huge in size compared to consumer markets.

Accepted Answer

Business markets involve buying and selling goods and services from one business to another, and the transactions are typically larger in size compared to consumer markets where individuals purchase goods and services for personal use. Therefore, business markets are generally much larger in size compared to consumer markets.

Question 10

Six weeks ago,a young couple paid $3500 for a top-brand mattress for their bed.Last night,a customer service representative of the manufacturer of the mattress called them to thank them for buying the mattress and to ask if they were happy with it.Why would a manufacturer bother to make such a call?

Accepted Answer

This call is a form of follow-up customer service meant to reduce any doubts or dissatisfaction that the couple may be feeling after purchasing the expensive mattress. This is an attempt to reduce post-purchase dissonance and build loyalty towards the brand.

Question 11

The benefits of e-procurement include access to new suppliers,lower purchasing costs and more time-efficient order processing and delivery.

Accepted Answer

E-procurement allows organizations to connect with a larger pool of suppliers, which can lead to greater competition and lower costs. It also streamlines the ordering and delivery process, resulting in greater efficiency and time savings.

Question 12

Marketers call the decision-making unit of a buying organisation the ________.

Accepted Answer

The term "buying centre" is used to refer to the decision-making unit of a buying organization. This group of individuals is responsible for making decisions about purchasing products or services on behalf of the organization. The buying center is usually composed of individuals from different departments within the organization, such as purchasing, finance, and operations. Understanding the roles and dynamics of the buying center is essential for marketers who wish to sell to other businesses.

Question 13

The buying centre is a fixed or formally identified purchasing unit within an organisation.

Accepted Answer

The buying center is a concept that refers to the informal, cross-departmental group of people involved in a purchasing decision, rather than a fixed or formally identified unit.

Question 14

A business marketer normally deals with far fewer buyers than the consumer marketer does.

Accepted Answer

Business marketers typically target a specific group of buyers within a company or industry, whereas consumer marketers may target a much larger and diverse group of individuals. Thus, a business marketer tends to have a smaller number of buyers to deal with.

Question 15

For complex business purchases,the buying centre may include up to 30 people from different levels and departments in the organisation.

Accepted Answer

The buying centre for complex business purchases can involve multiple individuals from various levels and departments of the organization, ranging from 5 to 30 people.

Question 16

Reverse auctions,trading exchanges and company buying sites are all ways that companies can participate in ________.

Accepted Answer

Reverse auctions, trading exchanges, and company buying sites are all examples of e-procurement methods, where companies use electronic systems to purchase goods and services from suppliers.

Question 17

The first step of the business buying process is ________.

Accepted Answer

The first step of the business buying process is problem recognition, which involves identifying a need or problem within the organization that requires a solution. This could be something like outdated technology, a lack of resources, or a need to improve efficiency. The other steps (general need description, supplier search, proposal solicitation, and order-routine specification) come after problem recognition has occurred.

Quiz 5: Consumer Markets and Consumer Buyer Behaviour