Question 1

Which of the following is the last stage of the business buying process?

Accepted Answer

Performance review is the last stage where the buyer assesses the supplier's performance and decides on future actions.

Question 2

ABC Enterprises sold 9,000 units @ $2.99/unit in July.The firm sold 9,000 units @ $4.29/unit in August.This illustrates demand.

Accepted Answer

The demand is inelastic because the quantity sold remained the same (9,000 units) despite an increase in price from $2.99 to $4.29, indicating that the demand for the product is not sensitive to price changes.

Question 3

One of Dr.Albrecht's dental assistants told the dentist he should buy a machine that would sterilize his tools without using any water because water tends to cause the tools to rust or corrode over time.Dr.Albrecht,who runs a solo practice in a small rural town,located some articles on the chemical sterilizer and read about how the machine works.After gathering more information and talking to salespeople,Dr.Albrecht placed his order for the machine.In terms of the buying center,Dr.Albrecht had the role of .

Accepted Answer

Dr. Albrecht placed the order for the machine and therefore had the role of the decider.

Question 4

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

Accepted Answer

E-purchasing can lead to a more transactional and impersonal relationship between buyers and suppliers, eroding established customer-supplier relationships that may have been built over time through face-to-face interactions.

Question 5

All of the following are difficulties associated with selling to government buyers EXCEPT .

Accepted Answer

Low sales volume is not a difficulty associated with selling to government buyers. In fact, government buyers usually purchase goods and services in large quantities, which can be beneficial for vendors. The other options (regulations, considerable paperwork, large group decision making, bureaucracy) are all common challenges when selling to government buyers.

Question 6

Giant Food Stores buys a lot of frozen turkey products at Thanksgiving and Christmas due to high consumer demand.This is an example of demand.

Accepted Answer

The answer of Giant Food Stores buys a lot of...

Question 7

Business buying behavior refers to the buying behavior of organizations that buy all of the following EXCEPT .

Accepted Answer

Business buying behavior refers specifically to the purchasing habits of organizations, not individuals. Therefore, products purchased for personal consumption are not included in this category.

Question 8

The Pure Drug Company produces insulin,a product with a very stable demand,even though the price has changed several times in the past two years.Insulin is a product with demand.

Accepted Answer

The fact that the demand for insulin has remained stable despite changes in price suggests that it is an inelastic product. Inelastic products are those where changes in price have little effect on quantity demanded.

Question 9

The first step of the business buying process is .

Accepted Answer

The first step of the business buying process is problem recognition, which is the identification of a problem or need that prompts a business to search for a solution.

Question 10

Another name for systems selling is selling.

Accepted Answer

Systems selling is also known as solutions selling, where the seller provides a comprehensive solution to the buyer's needs, rather than just individual products or services.

Question 11

Which of the following is NOT a way that business and consumer markets differ?

Accepted Answer

Satisfaction of needs through purchases is a similarity between business and consumer markets, as both involve the purchase of goods and services to satisfy a need or want. The other options are all ways in which business and consumer markets differ.

Question 12

Government organizations tend to favor suppliers over suppliers.

Accepted Answer

Government organizations typically prioritize domestic suppliers over foreign suppliers, which is reflected in their policies and regulations. This is because they aim to support the domestic economy and promote local industries.

Question 13

Members of the buying center at ABC Kid's World are drawing up a list of desired toy supplier attributes and their relative importance.Next,they intend to compare several suppliers to these attributes.In which step of the business buying process is the buying center at ABC Kid's World engaged?

Accepted Answer

The buying center is in the supplier selection step, where they evaluate and compare suppliers based on the desired attributes and their importance.

Question 14

A _ consists of the actual users of products,those who control buying information,those who influence the decisions,those who do the actual buying,and those who make the buying decisions.

Accepted Answer

The buying center consists of the actual users of products, those who control buying information, those who influence the decisions, those who do the actual buying, and those who make the buying decisions. The other options are not relevant to the definition given in the question.

Question 15

Which of the following types of factors influencing members of a buying center are typically the most difficult for marketers to assess?

Accepted Answer

Interpersonal factors such as personality conflicts, power struggles, and personal biases can be difficult to assess as they are often not openly communicated within the buying center.

Question 16

You regularly purchase cleaning supplies for your custodial staff,using the same vendor and ordering relatively consistent amounts of the same products with each purchase.This is an example of a _ situation.

Accepted Answer

This is an example of a straight rebuy situation because the company is consistently purchasing the same products from the same vendor without any significant changes or considerations for alternative options.

Question 17

The leading barrier to expanding electronic links with customers and partners online is .

Accepted Answer

Concern over security is the most common barrier to expanding electronic links with customers and partners online as electronic transactions involve the sharing of sensitive information and businesses want to ensure this information is secure.

Question 18

Pace Hardware uses Learningnow.com to improve sales force effectiveness and facilitate sharing of expertise.It allows Pace retailers to link with other Pace retailers to ask for managerial and marketing advice.It also allows Pace retailers to ask their suppliers about product usage,deliveries,and warranties,and it allows suppliers to send new- product information directly to Pace retailers.In this scenario,Pace Hardware is using a(n)_ .

Accepted Answer

The scenario describes the use of an extranet. An extranet is a private network that uses internet protocols and technology to facilitate communication and collaboration between an organization and its external partners, such as suppliers and retailers. In this case, Learningnow.com serves as an extranet for Pace Hardware, allowing them to connect with other retailers and suppliers.

Question 19

Which of the following is the best advice for an international marketer planning to interact with businesspeople from many different cultures?

Accepted Answer

It is important for international marketers to understand that cultures really are different and to make an effort to learn about those differences in order to avoid misunderstandings and to build successful relationships with businesspeople from different cultural backgrounds.

Question 20

Buyers are heavily influenced by the current and expected economic environment.That includes which of the following buyer influences?

Accepted Answer

Buyers are influenced by the cost of money, economic outlook, and the level of primary demand, as all these factors are part of the economic environment that affects purchasing decisions.

Quiz 6: Business Markets and Business Buyer Behavior