Business buying behavior is distinguished by five fundamental characteristics.
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
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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
c. can never be consumer products
d. are only sold in large quantities and
account for a larger portion of sales for most companies
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
b. market goods and services to individuals and organizations for purposes other than personal
consumption
c. facilitate online ordering on the company's website
d. provide product specifications to customers through directly targeted mailings
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
b. conversion
c. adaptation
d.
sentience
e. engagement
a. awareness
b. conversion
e. engagement
In a strategic alliance, _______ and _______ are necessary.
a. agreement; shared resources
b. commitment; trust
c. shared resources; trust
d. keiretsu; commitment
b. commitment; trust
_______ is a network of interlocking corporate affiliates
important in Japan.
a. Keiretsu
b. Guanxi
c. Amae
d. Wasta
. Keiretsu
Hospitals, colleges and universities, and museums fall into the ______ category of business customers.
a. reseller
b. producer
c. institutional
d. government
c. institutional
Which category of business customers accounts for the largest
volume of purchases in the United States?
a. Governments
b. Producers
c. Resellers
d. Institutions
a. Governments
Retailers and wholesalers are part of the _______ category.
a. institutional
b. reseller
c. government
d. producer
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?
a. Resellers
b. Producers
c. Governments
d. Institutions
b. Producers
The first two digits of a NAICS code designate the _______.
a. sector
b. industry group
c. subsector
d. industry
a. sector
The
NAICS is a system for classifying businesses _______.
a. in North America
b. worldwide
c. that are members of the World Trade Organization
d. in Europe, the United States, and Asia
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
c. an increase or decrease in the price of a product will not significantly affect demand for the product
d. a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product
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.
a. derived demand
b. inelastic demand
c. the multiplier effect
d. joint demand
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 _______.
a. supplies
b. accessory equipment
c. processed
materials
d. component parts
b. accessory equipment
Component parts _______.
a. are unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, and corn
b. include capital goods such as large or expensive machines, airplanes, and equipment
c. are either finished items ready for assembly or products that need very little processing before becoming part of some other
product
d. are products used directly in manufacturing other products
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 ______.
a. component parts
b. supplies
c. raw materials
d. accessory
equipment
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
c. unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, and corn
d. goods, such as
portable tools and office equipment, that are less expensive and shorter-lived than major equipment
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.
a. gatekeepers
b.
deciders
c. users
d. influencers/evaluators
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
c. the person who first suggests making a purchase
d. the person who negotiates the purchase
b. the person who selects a good or service to purchase
The three criteria business buyers use to evaluate business products include _______.
a. service, support, and profit
b. specifications, reliability, and price
c. quality, service, and price
d. quality, support, and profit
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.
a. varied rebuy
b. modified rebuy
c. new buy
d. straight rebuy
d. straight rebuy
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