Question 1

In the business-to-business buying process,the first step is:

Accepted Answer

The first step in the B2B buying process is identifying a need or a problem that needs to be solved. This step sets the stage for the rest of the process and guides the decision-making process. Without identifying a need or problem, there is no reason to go through the rest of the process.

Question 2

Typically,a new task purchasing situation involves the most members of the buying center and takes the greatest amount of time to complete.

Accepted Answer

A new task purchasing situation involves a high degree of complexity and uncertainty, which requires input and evaluation from several members of the buying center. Therefore, it usually takes longer to complete compared to routine or modified rebuy situations.

Question 3

A new task purchase is the easiest,because new specifications will be developed.

Accepted Answer

New task purchases often involve complex buying decisions with high levels of uncertainty, requiring the development of new specifications, evaluation of new suppliers, and potentially higher risks, making them not necessarily the easiest compared to straight rebuys or modified rebuys.

Question 4

A modified rebuy is a reorder from the same vendor.

Accepted Answer

A modified rebuy involves changes or adjustments to the specifications, prices, terms, or suppliers from a previous purchase, rather than simply reordering the exact same goods or services from the same vendor without changes.

Question 5

Describe a straight rebuy business-to-business purchasing situation.

Accepted Answer

The answer of Describe a straight rebuy business-to-business purchasing situation....

Question 6

A new task purchase situation exists when a new,potential vendor offers a company what is perceived to be a better buy than the company is getting now from its current vendor.

Accepted Answer

A new task purchase situation refers to a scenario where a company is making a purchase decision about a product or service for the very first time, not necessarily because a new vendor offers a better buy than the current one.

Question 7

When members of the buying center agree to consider IBM,Dell,and Hewlett-Packard in purchasing new computers because they are the firms that expressed interest,which stage of the business-to-business buying process is taking place?

Accepted Answer

The answer of When members of the buying center agree...

Question 8

When a firm's buying center agrees that defect rates for a purchased component part should be less than .01% of items received,the team is:

Accepted Answer

Establishing specifications involves setting specific requirements for a product or service, such as setting a maximum defect rate. This is what the buying center is doing by agreeing that the defect rate should be less than .01%. The other answer choices do not fit the scenario presented.

Question 9

Describe a modified rebuy business-to-business purchasing situation.

Accepted Answer

The answer of Describe a modified rebuy business-to-business purchasing situation....

Question 10

Which takes the most time to complete and typically involves the highest number of people in the buying process?

Accepted Answer

New task purchase typically takes the most time to complete and involves the highest number of people in the buying process. This is because it involves the buyer gathering information, defining the problem, evaluating alternatives, and making a purchase decision for a product or service that they have not purchased before. It often requires the involvement of multiple decision-makers and may involve significant investment and risk for the buyer.

Question 11

What are the three categories of business-to-business purchase decisions? Define each one.

Accepted Answer

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Question 12

The straight rebuy is normally a routine process involving only a few members of the buying center and may even be carried out electronically with little human involvement.

Accepted Answer

The statement is correct. Straight rebuy is a routine process where the buyer simply reorders a previously purchased product without modifying any specifications or suppliers. This can often be done electronically with minimal human involvement.

Question 13

In the "establishing specifications" step of the business-to-business purchasing process,for a modified rebuy situation,specifications are:

Accepted Answer

In a modified rebuy situation, specifications are reviewed to ensure that they are still current and meet the company's needs. This is important because the company may have changed its requirements or there may be new technologies or products available that are better suited to their needs. The specifications may be developed by the users of the product or with the assistance of vendors bidding on the contract, but the key is to ensure that they are up-to-date and aligned with the company's current needs.

Question 14

Describe a new task business-to-business buying situation.

Accepted Answer

The answer of Describe a new task business-to-business buying situation....

Question 15

When the buying center members find out that leasing a fleet from one car rental company holds the advantage of a better repair service contract than other companies provide,they are in which stage of the business-to-business buying process?

Accepted Answer

The members are evaluating the vendors based on the repair service contract, which is a criterion for vendor evaluation stage in the business-to-business buying process. Identification of vendor refers to recognizing potential suppliers, establishment of specifications involves defining the required product or service features, and vendor selection entails shortlisting appropriate vendors based on different criteria.

Question 16

If bids are taken at the end of each year's contractual agreement with a company's vendors,then each time the company engages in this activity,it is considered a straight rebuy purchase.

Accepted Answer

A straight rebuy purchase is when a company buys the same products from the same vendors without any changes in the buying decision. However, if bids are taken at the end of each year's contractual agreement, the company is evaluating other vendors and considering new options. This would make it a modified rebuy purchase, not a straight rebuy purchase.

Question 17

The linkage between the demand for automobile tires and sales of automobiles is an example of which type of demand?

Accepted Answer

The demand for automobile tires is derived from the demand for automobiles, as tires are needed to operate them. This type of demand is known as derived demand.

Question 18

A modified rebuy may occur when someone in the buying center believes the current vendor should be reevaluated.

Accepted Answer

A modified rebuy occurs when the buying center decides to review its suppliers and potentially switch to a new one. This can happen if someone in the buying center believes that the current vendor is not meeting their needs or if they have found a better option.

Question 19

Derived demand is demand:

Accepted Answer

Derived demand refers to the demand for one good or service that arises from the demand for another good or service. In other words, the demand for a product is derived from the demand for the product that it produces or the service it provides. So, it is linked to the production and sale of some other item. Option A is incorrect because it talks about demand from consumers for new goods and services, which is not the correct definition of derived demand. Option B is incorrect because it talks about manufacturers finding new customers, which is not related to derived demand. Option D is incorrect because it talks about governmental orders, which is not related to derived demand.

Question 20

Kimberly-Clark is going to place an additional order for plastic from its current vendor because of a larger order from a customer for products Kimberly-Clark manufacturers.The additional order for plastic would be a:

Accepted Answer

The answer of Kimberly-Clark is going to place an additional...

Quiz 3: Buyer Behaviors