Exam 6: Business Markets and Business Buyer Behavior

The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand.

________ refers to purchasing through electronic connections between buyers and sellers-usually online.

Business buyers are heavily influenced by factors in the current and expected economic environment, such as ________.

In the ________ stage of the buying process, the alert business marketer can help the buyers define their needs and provide information about the value of different product characteristics.

Distinguish between business markets and consumer markets.

A company buying a product or service for the first time faces a new task situation.

Eric Mason, an employee of Huntington Steelworks, is responsible for defining product specifications and providing relevant information for evaluating alternatives in his organization's buying center. Eric, whose opinions affect the buying decisions of his organization to a great extent, is most likely a(n) ________.

A ________ creates a long-term relationship in which the supplier promises to resupply the buyer as needed at agreed prices for a set time period.

In which stage of the business buying process does a buyer ask users to rate their satisfaction with the supplied materials?

Which of the following most likely occurs in the supplier selection stage of the business buying decision process?

In which of the following would the buyer reorder a product without any modifications?

A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions?

Which of the following factors influencing the business buying process do marketers typically find most difficult to assess?

________ refers to a business buying situation in which the buyer purchases a product or service for the first time.

Business markets are similar to consumer markets in that ________.

Sigma Inc., a software firm based in California, reordered 50 printers from the designated provider without any modifications. This is an example of ________.

Which of the following is LEAST likely a characteristic of business-to-business e-procurement?

Pace Hardware uses Learningnow.com to improve sales force effectiveness and facilitate sharing of expertise. It allows Pace retailers to connect with each other for seeking managerial and marketing advice. It also allows Pace retailers to ask their suppliers about product usage, deliveries, and warranties, and send new-product information directly to the retailers. In this instance, Pace Hardware is facilitating communication through ________.

Luke Price, a manager in an automobile factory, wanted his subordinates to rate their satisfaction about the new pistons that arrived last month. He asked them to rate the product based on strength and ease of handling. Which of the following is evident here?

The ________ refer(s) to all the individuals and units that play a role in the purchase decision-making process.