Exam 7: Analyzing Business Markets

The business buyer makes the fewest decisions in the straight rebuy situation and the most in the new-task situation.

Companies that fear a shortage of key materials are willing to buy and hold large inventories.

Corporate credibility depends on corporate expertise, corporate trustworthiness, and corporate likability.

If Ampex Support Systems is the single supplier for a local manufacturing company's MRO (maintenance, repair, operating) supplies and needs, Ampex Support Systems is considered as providing ________ for the manufacturer.

Business markets have several characteristics that contrast sharply with those of consumer markets.

Which of the following is an example of a vertical hub?

The "customer is king" category of buyer-seller relationship is relatively simple, and one in which routine exchanges with moderately high levels of cooperation and information exchange occur.

Researchers have found that buyer-supplier relationships could be classified into eight different categories. What category would be appropriate for a relationship where, although bonded by a close, cooperative relationship, the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange?

Buying centers usually include several participants with differing interests, authority, status, and persuasiveness. Explain.

In the buygrid framework model, where the major stages of the industrial buying process are listed and characterized, supplier selection is an important process. What follows supplier selection and what occurs in this phase?

Which of the following is true about the buying center?

The new, more strategically oriented purchasing departments have a mission. Which of the following most accurately describes that mission?

The buyer in a straight rebuy usually changes product specifications, prices, delivery requirements, or other terms.

Framing occurs when customers are given a perspective or point of view that allows the firm to "put its best foot forward."

In a ________ purchasing situation, the buyer wants to make some change to existing product specifications, prices, delivery requirements, or other terms.

What are the benefits of vertical coordination?

An increase in the demand for plant and equipment can lead to a much larger increase in consumer demand. This is known as the acceleration effect.

________ is a key industrial marketing strategy in bidding to build large-scale industrial products such as dams, pipelines, etc.

The ________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute. The value of a given configuration is determined by adding the average values of each of the given attributes.

In the ________ method for assessing customer value, customers are asked to place a direct dollar value on one or more changes in the market offering.