Business buying behavior is distinguished by five fundamental characteristics. Show First, buying is normally undertaken by a buying center consisting of many people who range widely in authority level. Second, business buyers typically evaluate alternative products and suppliers based on quality, service, and price—in that order. Third, business buying falls into three general categories: new buys, modified rebuys, and straight rebuys. Fourth, the ethics of business buyers and sellers are often scrutinized. Fifth, customer service before, during, and after the sale plays a big role in business purchase decisions Recommended textbook solutions
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Terms in this set (23)Business products are different from consumer products in that business products _______. a. are purchased to satisfy an individual's needs b. are used to manufacture other goods or services, to help an organization's operations, or resold to consumers The goal of content marketing is to ______. a. attract and retain a clearly defined audience and drive profitable customer action a. attract and retain a clearly defined audience and drive profitable customer action Marketers measure the effectiveness of marketing campaigns through which of the following? (Select three) a. awareness In a strategic alliance, _______ and _______ are necessary. b. commitment; trust _______ is a network of interlocking corporate affiliates
important in Japan. . Keiretsu Hospitals, colleges and universities, and museums fall into the ______ category of business customers. c. institutional Which category of business customers accounts for the largest
volume of purchases in the United States? a. Governments Retailers and wholesalers are part of the _______ category. b. reseller Which category of business customers include all individuals and
firms that acquire products to support, directly or indirectly, the production of other goods and services? b. Producers The first two digits of a NAICS code designate the _______. a. sector The
NAICS is a system for classifying businesses _______. a. in North America The more shared digits companies have, the more ---- they are homogenous Derived demand means _______. a. the
demand for one business product is related to the demand for another business product used in combination with the first item b. there is a linkage between the demand for a company's output and its purchases of resources When the demand for one business product is related to the demand for another business product used in combination with the first item, _______ occurs. d. joint demand When considering distribution structure and how business markets and consumer markets differ, business markets have---- , while consumer markets have ---- relatively short, direct channels, longer channels that may involve producers and wholesalers. Portable tools and office equipment would be categorized as _______. b. accessory equipment Component parts _______. a. are unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, and corn c. are either finished items ready for assembly or products that need very little processing before becoming part of some other product Unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, and corn would be categorized as ______. c. raw materials Supplies are _______. a. either finished items ready for assembly or products that need very little processing before becoming part of some other product b. consumable items that do not become part of the final product. Paper and pencils are examples of supplies In the buying center, _______ are people who affect the buying decision by supplying information to guide the evaluation of alternatives or by establishing buying specifications. d. influencers/evaluators In the buying center, the decider is _______. a. the person who regulates the flow of information b. the person who selects a good or service to purchase The three criteria business buyers use to evaluate business products include _______. c. quality, service, and price In a _______, the business buyer reorders the same goods or services without
looking for new information or investigating other suppliers. d. straight rebuy Students also viewedChapter 8 Quiz24 terms izabellaeileen Chapter 7 Assignment MAR 302325 terms youspinmerightround Marketing Chapter 754 terms madison_permenter Chapter 8 Assignment MAR 302325 terms youspinmerightround Sets found in the same folderMarketing Ch. 5 Overview Assignment25 terms darbyyyyyyyyyyyPlus Marketing Ch. 6 Overview Assignment25 terms Quynh_Tran758 Chapter 5 Quiz19 terms izabellaeileen MRKT CH 1121 terms jeanettelopez05 Other sets by this creatorsyndication6 terms maliah2999 A+R Roles2 terms maliah2999 6 steps of casting6 terms maliah2999 Film/TV Important Terms23 terms maliah2999 Verified questions
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What is a business product?What are business products? A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase.
What is a consumer product quizlet?Consumer Product. a product bought by final consumers for personal consumption.
What are business products quizlet?Products can be classified as either business or consumer products, depending on the buyers intentions. What is a business product? A business product is used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers.
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What is a difference between a consumer product and a business product quizlet?
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