Question 1

The final step of the business-to-business buying process is a formal vendor analysis.

Accepted Answer

During the final step of the business-to-business buying process, the purchasing organization conducts a formal evaluation of vendors to choose the most suitable one based on criteria such as price, quality, delivery, after-sales service, and other factors. This step is also called a supplier evaluation or a vendor analysis.

Question 2

Formal performance evaluations of the vendor and the products sold generally occur in the B2C buying process.

Accepted Answer

Formal performance evaluations are more commonly used in the B2B buying process, where the stakes are higher and long-term relationships are often formed between the buyer and vendor. In the B2C buying process, evaluations are typically more informal and based on personal experience and word of mouth.

Question 3

Organizational culture may vary by geography.

Accepted Answer

Organizational culture can be influenced by factors such as regional values, traditions, and customs, which may vary by geography.

Question 4

Naperville School District realized it needed to upgrade the computers in the school libraries. This represents the product specification stage of the B2B buying process.

Accepted Answer

The answer of Naperville School District realized it needed to...

Question 5

In both new buy and straight rebuy situations, several members of a buying center will be intensely involved in the purchasing decision.

Accepted Answer

In a straight rebuy situation, the purchasing decision is often routine and may not involve intense involvement from several members of a buying center, unlike in new buy situations where the decision is more complex and requires input from multiple members.

Question 6

The B2B buying process tends to be more formal than B2C buying.

Accepted Answer

B2B transactions often involve multiple decision-makers and a greater emphasis on long-term relationships and contracts, leading to a more formalized process. B2C transactions, on the other hand, are typically more focused on individual consumers and tend to involve fewer decision-makers and a more informal process.

Question 7

Once a vendor receives an order from a firm, it responds by immediately filling the order.

Accepted Answer

The vendor may need time to process and prepare the order before it can be filled and shipped.

Question 8

Resellers differ from producers in that resellers significantly alter the form of goods they sell.

Accepted Answer

Resellers do not significantly alter the form of goods they sell. They purchase finished products from producers and sell them in their original form or with minimal packaging or labeling changes.

Question 9

The RFP process is used by buyers to allow customer input into value creation.

Accepted Answer

The RFP (Request for Proposal) process is used by buyers to solicit proposals from potential suppliers or service providers, primarily to evaluate their offerings and capabilities, not specifically to allow customer input into value creation.

Question 10

A small business decides to upgrade its aging phone system. The business will probably place a straight rebuy order.

Accepted Answer

A straight rebuy order is when a business simply reorders a previously purchased product without any modifications. However, upgrading an aging phone system would involve making some changes to the current system, which would make it a modified rebuy or a new task purchase rather than a straight rebuy.

Question 11

An architect working for a large firm requests specific computer software to produce designs, drawings, and other technical information for his clients. The architect probably serves as a gatekeeper in the buying center.

Accepted Answer

The answer of An architect working for a large firm...

Question 12

As the owner of a small business with 60 employees that makes custom floor mats, Paul makes all of the buying decisions. Paul is most likely the user.

Accepted Answer

As the owner, Paul is not the user of the floor mats. It is more likely that the employees who use the floor mats are the users, while Paul is the decision maker or purchaser.

Question 13

Fabricworld buys fabric from China and sells it to clothing manufacturers in the U.S. Fabricworld is a retailer.

Accepted Answer

Fabricworld is not a retailer, it is a wholesaler or distributor that buys from manufacturers and sells to other businesses such as clothing manufacturers.

Question 14

A small business may use a web portal as a means of forming a supply chain that can respond to its needs.

Accepted Answer

a web portal can provide a platform for small businesses to connect with suppliers and collaborate with them to meet their needs.

Question 15

Most B2B buying situations can be categorized into three categories: new buys, structured rebuys, and automatic rebuys.

Accepted Answer

The answer of Most B2B buying situations can be categorized...

Question 16

When the Toyota Prius first came out, dealers kept waiting lists of people wanting one and the factories had to ramp up production and order more raw materials. This is an example of derived demand.

Accepted Answer

Derived demand refers to the demand for a product or service that arises from the demand for another product or service. In this case, the demand for Toyota Prius cars led to an increase in the demand for raw materials and production capacity to meet that demand.

Question 17

Public institutions do not engage in B2B relationships.

Accepted Answer

Public institutions may engage in B2B relationships with other organizations or businesses for various purposes such as procurement of goods and services, partnerships, and collaborations.

Question 18

Business-to-business marketing refers to buying and selling goods or services to consumers.

Accepted Answer

Business-to-business marketing refers to buying and selling goods or services between two businesses, not consumers.

Question 19

B2B marketing involves manufacturers, wholesalers, and service firms.

Accepted Answer

B2B marketing is business-to-business marketing, which involves the selling of products and services to other businesses or organizations. This includes manufacturers, wholesalers, and service firms, among others. Therefore, the statement is true.

Question 20

A buying center whose members reach a decision based on a collective agreement is known as an autocratic buying center.

Accepted Answer

An autocratic buying center is one in which the decision is made by one or a few members who hold the power, while a collective buying center is one where decisions are reached through consensus or majority agreement among all members.

Quiz 7: Business-To-Business Marketing