Exam 5: Understanding Organizations As Customers

Keystone Foods, which invented the individual quick freeze process for beef, provides McDonald's with millions of pounds of chicken, beef, and fish annually for use in its restaurants. The firm sources the animal proteins from farms and processes them in a variety of ways, such as breading or freezing, before selling them to McDonald's. Keystone is operating in a(n) __________ market.

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Which of these statements regarding organizational buyers is most accurate?

-As shown in buying center photo above, an organization's buying center includes individuals who can play one or more of the following roles EXCEPT:

When the Federal Aviation Administration (FAA) purchases radar systems for 22 major air traffic control centers in the U.S., it is operating as a(n)

Which of the following types of firms comprises an industrial market?

When the John Deere Company employs engineers who work full-time with the company's suppliers to improve their efficiency and quality and reduce their costs, it is practicing

When prospective buyers observe the bids of others and decide whether or not to increase the bid price, it is called a(n)

An organization buys products and services for one main reason, which is to

Organizational buyers can be divided into three different markets, which are

The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers is referred to as

Online buying in organizational markets is prominent because Internet technology

List seven organizational buying criteria.

The North American Industry Classification System (NAICS) designates industries with a numerical code in a defined structure. A six-digit coding system is used. The fourth digit designates a(n)

There are seven commonly used organizational buying criteria. One of them is __________.

Which of the following statements about marketing mix characteristics in organizational buying behavior is most accurate?

E-marketplace can take two different formats, which are

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

Explain the differences between independent e-marketplaces and private exchanges.

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?