Match each item with the correct statement below.
-A(n)_____ is a buying center participant who has the formal authority to select a supplier and to implement the procedures for securing a good or service.

Question

Quizplus · Accepted Answer

The statement describes the role of a buyer in a buying center.

Answer: A
 Merchandisers are individuals responsible for selecting and purchasing products for resale.

Answer: K
 A gatekeeper controls access to information and decision-makers in a buying center.

Answer: T
 Customer-based segmentation is a market segmentation strategy that involves identifying and targeting specific groups of customers based on their needs and behaviors.

Answer: S
 The statement describes the role of a buyer in a buying center.

Answer: F
 Global sourcing is the practice of seeking and purchasing goods or services from suppliers located in different countries.

Answer: H
 Inelastic demand describes a situation where the quantity demanded for a product or service does not significantly change in response to a change in price.

Answer: I
 Outsourcing involves contracting out business activities to external vendors or service providers.

Answer: J
 Value analysis is a process used to evaluate a product or service in terms of its value to the customer and the cost to produce it.

Answer: K
 A gatekeeper controls access to information and decision-makers in a buying center.

Answer: P
 Modified rebuy involves a buying decision where the buying center reconsiders its options for a previously purchased product/service.

Answer: N
 Vendor analysis is a process used to evaluate potential suppliers based on factors such as quality, reliability, and delivery time.

Answer: O
 A category advisor is a consultant who advises retailers and manufacturers on product assortment, pricing, and promotions within a particular category.

Answer: G
 Joint demand refers to a situation where two or more products or services are demanded together as they are complementary to one another.

Answer: L
 The commercial market refers to the market for goods and services purchased by businesses and organizations for the purpose of producing other goods and services.

Answer: B
 Trade industries are groups of businesses that specialize in the production, distribution, and sale of particular goods or services.

Answer: R
 Influencers are individuals who provide input and guidance to the decision-makers in a buying center.

Answer: C
 Remanufacturing involves taking used or worn products and restoring them to their original condition, often using a combination of recycling and re-engineering techniques.

Answer: E
 End-use application segmentation is a market segmentation strategy that involves identifying and targeting specific groups of customers based on their intended use for a product or service.

Answer: Q
 Demographic characteristics based segmentation is a market segmentation strategy that involves identifying and targeting specific groups of customers based on demographic factors such as age, gender, income, and education.

Match Each Item with the Correct Statement Below