Question 1

Why is the demand for products and services different in a business market?

Accepted Answer

The answer of Why is the demand for products and...

Question 2

The primary organizational factor influencing the product and supplier choice is _________.

Accepted Answer

The answer of The primary organizational factor influencing the product...

Question 3

Steel,chemicals,paper,and automobile manufacturers have created integrated Web sites to assist their own purchasing departments in online purchasing and supplier selection.These are examples of ______.

Accepted Answer

These integrated websites created by manufacturers to assist their own purchasing departments are specific to their industry, making them industry purchasing sites. The other choices are not relevant in this context. Google AdWords is a digital advertising platform, Intranets are internal communication networks within an organization, Extranets are networks that allow external parties to access an organization's internal network, and T-lines of connection are a type of telecommunications connection.

Question 4

In B2B marketing,companies rely on a more personal relationship between the buyer and seller,how does this differ from consumer marketing?

Accepted Answer

The answer of In B2B marketing,companies rely on a more...

Question 5

Losing a customer is disappointing; however,it also represents an opportunity.By using ______ strategies,companies can reacquire customers.

Accepted Answer

Service recovery strategies involve efforts to win back customers who may have become unhappy or dissatisfied with a company's products or services. This can involve addressing the reasons for their dissatisfaction, offering apologies, compensation, or other measures to restore the customer's faith in the company. By addressing the reasons for the customer's departure, a company can not only win back that customer's business, but also improve its overall customer experience and reputation.

Question 6

Las-X makes medical lasers used in hair removal and cosmetic surgery.The company recognizes that consumers have less disposable income now than they did just a few years ago.Who are customers for Las-X and how does consumer demand impact Las-X? What demand concept is illustrated here?

Accepted Answer

The answer of Las-X makes medical lasers used in hair...

Question 7

Why does technology play a critical role in connecting the buyer and the seller in the B2B market?

Accepted Answer

The answer of Why does technology play a critical role...

Question 8

Why is geographic concentration an important part of some B2B relationships?

Accepted Answer

The answer of Why is geographic concentration an important part...

Question 9

Kiran runs Power3,a specialized battery manufacturer.His biggest account is an international digital camera manufacturing company.Kiran would like to increase sales and believes that if he lowers the price of his lithium batteries he will receive larger orders from the digital camera manufacturer.What would you tell Kiran about the demand for his product?

Accepted Answer

The answer of Kiran runs Power3,a specialized battery manufacturer.His biggest...

Question 10

EDI (electronic data interchange)allows _________.

Accepted Answer

EDI allows customer computers to communicate directly with supplier computers. While EDI can facilitate daily communication between companies and fulfill the buying center function, it is designed primarily for computer-to-computer communication between trading partners. The use of EDI can also reduce the need for human involvement in routine processes, but it is not designed specifically for complex product evaluation.

Question 11

Within the organization,who is the person most responsible for maintaining B2B relationships? Why?

Accepted Answer

The answer of Within the organization,who is the person most...

Question 12

B2B transactions have been growing at a phenomenal rate.Online B2B sales worldwide is now in excess of ______________.

Accepted Answer

The answer of B2B transactions have been growing at a...

Question 13

Define supply chain.

Accepted Answer

The answer of Define supply chain....

Question 14

Business markets are characterized by fewer,but larger customers,how does this affect customer retention?

Accepted Answer

The answer of Business markets are characterized by fewer,but larger...

Question 15

Office Depot has a number of direct relationships using EDI with thousands of companies.This relationship is done through a concept called ____________.

Accepted Answer

An extranet is a private network that uses the internet to securely share information and communication between authorized external users and an organization. In this case, Office Depot uses EDI to communicate with thousands of companies through an extranet system.

Question 16

How has the demand for biofuels affected the demand for corn?

Accepted Answer

The answer of How has the demand for biofuels affected...

Question 17

The process of business purchasing online is called _____________.

Accepted Answer

The process of business purchasing online is referred to as E-procurement. It involves using electronic devices, such as computers and the internet, to purchase products and services for the business. This process is usually more efficient and cost-effective compared to traditional procurement methods.

Question 18

Once a sale is made and the product delivered in the B2B market,the buyer _____.

Accepted Answer

In B2B marketing, the post purchase process is an important stage where the buyer evaluates the product and supplier to determine whether their expectations were met. This evaluation helps the buyer to make informed decisions around future purchases from the same supplier or whether to look for alternative suppliers.

Question 19

Many companies have set up direct links to approved suppliers to make the purchase easier and move it closer to the front line decision makers.These direct links are called _________________.

Accepted Answer

Direct links to approved suppliers that are set up by companies are known as extranets. An extranet is a private network that allows authorized external partners or suppliers to access a company's internal system or information. Through these direct links or extranets, companies can streamline their procurement process and make purchase easier and faster for their front line decision makers.

Question 20

One of the benefits of electronic data interchange (EDI)is ________.

Accepted Answer

EDI allows customer computers to communicate directly with supplier computers, increasing efficiency and speed of transactions.

Quiz 6: Understanding Customers: Business-To-Business Markets