Exam 7: Analyzing Business Markets

In which of the following is a person performing the role of a gatekeeper?

As a seller in the business market, you have promised your customers that you have corporate credibility as one of your corporate goals. What three factors will have some bearing on whether you will be able to meet your goal and promise?

Government organizations typically require suppliers to submit bids, and normally they award the contract to the highest bidder.

A performance review is the first step in the buygrid framework.

In which of the following is a person performing the role of an influencer?

Patrick Jung and his associates have identified eight stages in the business buying-decision process. This model is called the ________ framework.

Business buyers often select suppliers who also buy from them.

The buying process begins when someone places an order with a sales representative.

As part of the buyer selection process, buying centers must decide how many suppliers to use. What might motivate a buyer to use multiple sources?

According to Patrick Jung, the eight stages in the business buying-decision process are known as ________.

Which of the following methods is most likely to be used by buyers to review the performance of chosen suppliers?

Small sellers concentrate on multilevel in-depth selling instead of reaching the key buying influencers.

________ refers to the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.

Which of the following is a challenge in which business marketers differ from the consumer marketers?

Ultimately, the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

A ________ establishes a long-term relationship in which the supplier promises to resupply the buyer as needed, at agreed-upon prices, over a specified period of time.

The type of buyer-supplier relationship in which buyers and sellers make many relationship-specific adaptations, but without necessarily achieving strong trust or cooperation is termed as ________.

The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________.

Companies that use multiple sources often cite the threat of a labor strike as the biggest deterrent to single sourcing.

If you performed the role of the ________ in a buying center, you would be the person that has the power to prevent sellers or information from reaching other members of the buying center.