Exam 7: Analyzing Business Markets

Explain the term opportunism with respect to business relationships.

The business marketer normally deals with far fewer, much larger buyers than the consumer marketer does.

________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

Which of the following is true about the buying center?

The ________ market consists of schools, hospitals, nursing homes, prisons, and other institutions that must provide goods and services to people in their care.

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

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

When purchasing disposable surgical gowns, Mercy Hospital's vice president of purchasing analyzes whether the hospital should buy disposable gowns or reusable gowns. If the findings favor disposable gowns, then the operating-room administrator compares various competitors' products and prices and makes a choice. Surgeons influence the decision retroactively by reporting their satisfaction with the particular brand. In this situation, the surgeons perform the role of the ________.

Most business buyers reject what is called systems buying from one seller.

In systems buying, the U.S. government often solicits bids from prime contractors. What do prime contractors do?

Illustrate the differences between a straight rebuy, modified rebuy, and a new-task purchase.

With respect to e-procurement, Coca-Cola, Sara Lee, Kraft, PepsiCo, P&G, and several other companies joined forces to form a ________ called Transora to use their combined leverage to obtain lower prices for raw materials.

Explain how fluctuating demand impacts business markets differently from consumer markets.

What is the composition of the buying center?

Business buyers often select suppliers who also buy from them.

With respect to e-procurement, which of the two types of e-hubs are Web sites organized around?

In the ________ method for assessing customer value, customers are asked how costs of using a new product compare to those of using an incumbent.

Explain with examples, the concept of solution selling.

Which of the following is a step in the straight rebuy buyclass?

Sometimes a rise of only 10% in consumer demand can cause as much as a 200% rise in business demand for products for the next period. This is an example of ________.