Question 1

In a buying center, purchasing agents or purchasing managers are also known as

Accepted Answer

Purchasing agents or purchasing managers are typically responsible for executing the actual purchase and are therefore commonly referred to as buyers in the buying center.

Question 2

The group of people within a business who are involved in making business buying decisions is referred to as

Accepted Answer

The term "buying center" refers to the group of individuals within a business who are involved in making business buying decisions. This group may include purchasing agents, decision-makers, influencers, users, and other stakeholders who have an impact on the decision-making process. The buying center is an important concept in B2B marketing, as it helps businesses understand the complex nature of purchasing decisions and develop targeted marketing strategies to reach key decision-makers.

Question 3

What are the four major categories of factors that influence business buying decisions?

Accepted Answer

The answer of What are the four major categories of...

Question 4

The student senate at your university has been asked to give input on the purchase of new computers for campus computer labs. In this instance, the student senate would be acting as a(n) ____.

Accepted Answer

The student senate is not the buyer or user of the new computers, nor are they the gatekeeper who controls access to the computers. They are acting as an influencer by providing input and recommendations for the decision maker(s) who will ultimately decide on the purchase. Therefore, the best choice is D, influencer.

Question 5

Barry Gluckman of WP International, a major marketer of word-processing software, calls the secretary of Renee Dorchette, director of purchasing for MMK, Inc. He sets up an appointment to discuss an upcoming purchase of software. The secretary plays the role of ____ in this purchase decision.

Accepted Answer

The secretary is a gatekeeper in this purchase decision because she is controlling access to the director of purchasing and deciding who can meet with her to discuss the purchase of software.

Question 6

Most business buying decisions are made by

Accepted Answer

Most business buying decisions are made by the firm's buying center, which is a group of individuals involved in the purchasing decision. This group may include representatives from different departments within the organization, such as finance, marketing, and operations, as well as purchasing agents. The decisions made by the buying center are usually more complex and involve more factors than those made by an individual buyer or a team of purchasing agents.

Question 7

The stages of the business buying decision process, in order, are

Accepted Answer

The correct sequence for the business buying decision process is: recognizing the problem, establishing product specifications, searching for products and evaluating possible suppliers, selecting suppliers and products, and evaluating performance. This order reflects the logical progression from identifying a need through to assessing how well the chosen solution met that need.

Question 8

During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way.

Accepted Answer

Value analysis is used to examine various aspects of a product, including quality, design, and materials, with the goal of reducing costs without sacrificing functionality, making it a cost-effective approach for acquiring products.

Question 9

Individual influencing factors refer to

Accepted Answer

Individual influencing factors refer to the personal characteristics of individuals in the buying center, such as their attitudes, beliefs, values, and decision-making styles, that affect their behavior and decision-making processes within the buying center. These factors can include demographic characteristics, personal preferences, political and social preferences, and personal biases. Understanding individual influencing factors is essential for marketers to tailor their marketing strategies and communication efforts to effectively reach and influence different members of the buying center.

Question 10

The third stage in the business buying decision process is to

Accepted Answer

The answer of The third stage in the business buying...

Question 11

After deciding to order replacement parts for aging machinery, the buyer for a construction company examines catalogs and trade publications looking for these parts. The buyer is at which stage in the business buying decision process?

Accepted Answer

The buyer is searching for replacement parts, indicating that they have already recognized a problem and specified the needed product. They are now in the stage of searching for potential suppliers and evaluating their options.

Question 12

In its purchase of desktop business computers, Albertson's asked that potential suppliers provide information only on units with 4.0 gigabytes of memory. As Albertson's management evaluates this purchase, it finds that 4.0 gigabytes are inadequate for many of the software programs used at Albertson's. In this instance, the firm would need to modify which aspect of the purchase process?

Accepted Answer

The purchase specifications developed by Albertson's only requested information on units with 4.0 gigabytes of memory, which has turned out to be inadequate for the company's needs. Therefore, Albertson's would need to modify the specification development aspect of the purchase process to include higher memory requirements in its request for proposal (RFP) going forward.

Question 13

An organization that decides to buy all of a certain part from the same company is using

Accepted Answer

Sole sourcing means buying a particular product or service from only one supplier. Therefore, an organization that decides to buy all of a certain part from the same company is using sole sourcing. This strategy is usually adopted when the item is critical to the organization's operations, or when the supplier has a unique or proprietary technology that cannot be easily replicated by competitors. Sole sourcing can help the organization to achieve better quality, consistency, and cost savings, as well as to build a closer relationship with the supplier. However, it also involves some risks, such as dependence on a single supplier, lack of competitive bidding, and potential conflicts of interest.

Question 14

A buyer for Macy's Department Stores orders handbags from a supplier because that supplier allows the buyer to maintain Macy's company policy of 30-day advance purchase notice. This is an example of ____ influence on the business buying decision process.

Accepted Answer

The supplier allowing the buyer to maintain Macy's company policy is an example of organizational influence on the buying decision process. The policy is set by Macy's as an organization and the decision to order from a particular supplier is based on whether or not they comply with this policy.

Question 15

Administrative assistants that control the flow of information to other people in the organization often play the ____ role in the buying center.

Accepted Answer

Gatekeeper is the role played by administrative assistants who control the flow of information in the organization. They decide who gets access to information and who does not. Therefore, choice A is the best answer.

Question 16

The second stage in the business buying decision process is to

Accepted Answer

In the second stage, the business develops product specifications based on their needs and requirements. This involves determining the technical aspects of the product, such as quality, performance, and features, as well as any other criteria, such as price, delivery time, and supplier reliability. The other options listed are stages that occur later in the process.

Question 17

____ analysis is a systematic evaluation of current and potential suppliers that focuses on many dimensions including price, product quality, delivery service, product dependability, and overall company reliability.

Accepted Answer

The given definition of supplier evaluation is for vendor analysis. Hence the correct answer is B. Other options like value analysis, buying center analysis, and cost analysis are different concepts in the field of procurement and supply chain management. The strategic analysis is a broader concept that includes analyzing various factors like the competitive environment, resources, capabilities, and long-term goals of the organization.

Question 18

Christy Bridgman is considering the purchase of a new fax machine for her real estate office. She is considering a machine that doesn't have as many functions but is available at a considerably lower price than her current machine. She is engaged in ____ analysis.

Accepted Answer

Christy Bridgman is evaluating the trade-off between the functionality of a fax machine and its cost, which is a consideration of the value that the machine provides relative to its price. This is known as value analysis.

Question 19

Compared with the SIC system, the North American Industry Classification System (NAICS) will

Accepted Answer

The NAICS was developed jointly by the United States, Canada, and Mexico to provide the most up-to-date information for the NAFTA partners. Therefore, it is more current than the SIC system and focuses on industries relevant to these three countries.

Question 20

Compared with consumer goods, marketers aiming at business customers

Accepted Answer

Marketers aiming at business customers often have access to more information about their potential customers, such as through industry reports, trade publications, and networking. This can help them better target and tailor their marketing efforts to specific businesses and industries.

Quiz 7: Business Markets and Buying Behavior