Exam 3: Understanding Buyers

The desire of belonging to a user group of companies using this equipment, reflects the buyers ____________ needs.

RFP stands for ready for problems, and is a term used by salespeople when uncovering needs.

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because their other supplier is experiencing temporary production problems. Which of the following needs is the buyer expressing?

Relative to consumer markets, business markets are more likely to exhibit:

One of the distinguishing characteristics of business markets is that there is a smaller number of larger buyers that account for most of the purchases. This distinguishing characteristic is called ______________demand.

Purchase decisions tend to be more complex in business markets than consumer markets. Accordingly, in business markets you are more likely to find (relative to consumer markets):

The first step in the buying process is to search for qualified suppliers.

The final stage of the buying decision process is ________________________________.

Needs that reflect the desire for feelings of assurance and risk reduction are called?