Exam 7: Business Markets and Buying Behavior

The five-stage business buying decision process is used primarily for routine, straight rebuy purchases.

Raw materials are especially affected by joint demand.

In what ways do environmental factors affect the business buying decision process?

Business customers are forced to satisfy personal goals in pursuits that lie outside their jobs.

NAICS provides less information about service industries and high-tech products than did the SIC system.

Volkswagen purchases upholstery for the interiors of its vehicles from various suppliers. This upholstery must have a set of characteristics that is expressed by Volkswagen. This set is called

Buyers in producer markets purchase either raw materials or semifinished products.

An organization that decides to buy all of a certain part from the same company is using

Raython Hardware and Thames Industrial Supplier have worked closely for many years and have a mutually beneficial relationship in which Raython provides all of Thames's hardware needs in a timely manner. Raython and Thames's relationship could be best characterized as a(n)

How do a firm's objectives affect the business buying decision process?

There is little or no difference between wholesalers' customers and retailers' customers.

Discuss how interpersonal factors influence the business buying decision process.

When certain consumer products are in high demand, producers might buy extra materials and equipment and when demand subsides, producers will cut back on their material purchases. This describes ____ demand.

Christy Bridgman is considering the purchase of a new fax machine for her real estate office. She is considering a machine that doesn't have as many functions but is available at a considerably lower price than her current machine. She is engaged in ____ analysis.

Inspection refers to a purchasing method in which a representative unit is taken from a lot and evaluated, and the buying decision is based on the conclusions.

Reciprocal dealing is widespread because it is one of the few avenues not regulated by the FTC, and it facilitates optimal purchases.

The state of Montana is preparing to buy a large quantity of frozen orange juice for use in a large school district. Citrus Sweet, Inc. is in the citrus juice business but has never sold to the government market. To have a chance at getting this order, Citrus Sweet's first step must be to get her firm to

Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics?

All of the following are important concerns of business customers except

Goodyear is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Goodyear's tire products is said to be ____ since it depends on the demand for new cars.