Quiz 5: Business-To-Business Marketing

Business-to-business marketing involves transactions between: A)firms that market goods and services and the ultimate consumers. B)local and federal governments and the consumers. C)firms that market goods and services and other businesses. D)firms that provide products and services and their employees. E)firms that market goods and services and their union members.

Which of the following is an example of business-to-business marketing? A)A travel agency offering services such as booking tickets and hotel accommodations to the ultimate consumers B)eBay offering various online auction and other services to consumers C)An Internet services company that offers access to software applications and other services and charges on a usage basis D)Intel selling microprocessors to Dell E)A neighbourhood store that sells newspapers, magazines, and other items of interest to the locals

All the following companies are always operating in B2B markets, EXCEPT: A)A marketing consulting firm B)A point of sales service provider C)An oil refinery D)A wholesaler E)A travel agency

A typical marketing channel consists of manufacturers, wholesalers, and retailers.In a typical marketing channel what type(s)of transaction occurs? A)B2B transactions B)B2C transactions C)C2C transactions D)B2B and B2C transactions E)B2C and C2C transactions

Which of the following statements is true about business-to-business (B2B)markets? A)Institutions such as hospitals and prisons are excluded from conducting B2B transactions. B)Distributors in a B2B market are those which usually buy raw materials, components, and parts that allow them to manufacture their own goods. C)Usually, information about government buying can be obtained from Business Access Canada or from MERX. D)In a B2B market, resellers completely alter the form of the product before selling it. E)In most countries, the central government tends to be one of the smallest contributors to the purchase of goods and services.

Which of the following makes it possible for businesses of any size to have easy and affordable access to billions of dollars in contracting opportunities with the Government of Canada, the U.S.Government, and the private sector? A)GPO B)SIC C)NAICS D)NAFTA E)MERX

Which of the following statements is NOT true of manufacturers? A)They are marketing intermediaries that produce the product B)They are usually producers of their own good and services. C)Wholesalers, and retailers, are their classic customers. D)They are usually engaged in B2B transactions. E)They are the only marketing intermediaries that do not buy any product.

Which of the following marketing intermediaries resell manufactured products without significantly altering their form? A)Gatekeepers B)Producers C)Buyers D)Wholesalers E)Users

Which of the following is NOT true of retailers? A)They are business customers for wholesalers and manufacturers. B)They are a form of resellers. C)They resell manufactured products without significantly altering their form. D)They are one of the largest purchasers of goods and services in most countries. E)They are selling products to end consumers.

Which of the following is a marketing intermediary that deals with reselling a product without changing or modifying it notably? A)Producer B)Consumer C)Distributor D)Initiator E)Gatekeeper

Terrance buys defective clothes that are stockpiled in warehouses of factories and sells them to retailers for a discount.Terrance is a(n): A)manufacturer. B)initiator. C)consumer. D)gatekeeper. E)reseller.

Perry Inc.is a global digital education firm that sources its content from multiple authors and publishers, and packages its products attractively to capture the target audience.Which of the following best describes Perry's role? A)Consensus buying centre B)Gatekeeper C)User D)Producer E)Reseller

In B2B transactions, hospitals, schools, and religious organizations are usually examples of: A)manufacturers. B)users. C)institutions. D)gatekeepers. E)resellers.

In comparison with purchases made by government organizations, which of the following statements is true of institutional buyers? A)They rarely disclose their purchase decisions and practices. B)They are subject to heavy public scrutiny. C)They are less likely to engage in reciprocal buying. D)They usually opt for a supplier that quotes the highest price. E)They traditionally make much larger purchases.

Which of the following is NOT an example of institution buyer? A)University of Lethbridge B)York Region District School Board C)Hospital for Sick Children D)St.Peter's Roman Catholic Church E)Regional Municipality of Waterloo

Which of the following tends to be the largest group of purchasers of goods and services in most countries? A)Central governments B)Manufacturers C)Wholesalers D)Gatekeepers E)Retailers

Which of the following is the most complete source of Canadian public tenders, private tenders, U.S.tenders, and private sector construction news available in Canada? A)Statistics Canada B)Business Exchange Magazine C)NAFTA D)MERX E)Business Access Canada

Government purchases differ from the purchases made by institutional organizations in that institutional organizations: A)make relatively large purchases and consider a wide range of factors in their purchases. B)may not always purchase from the vendor with the lowest price. C)need to make purchases that comply with the policy guidelines and trade rules set by the World Trade Organization. D)have relatively small budgets and therefore seek the best value when buying products and services. E)have to disclose their purchase decisions and practices to the public.

The buying process of private-sector companies, such as manufacturers and resellers, differs from the buying process of governments in that private companies: A)have relatively big budgets and seek the best value when buying products. B)are more likely to engage in reciprocal buying. C)always opt for a supplier with a strong brand equity regardless of the price they quote. D)must disclose their buying criteria and buying process to the public. E)make purchases that comply with the policy guidelines set by the WTO.

Which of the following is NOT true of B2C markets? A)In B2C markets, consumers buy goods to satisfy their own individual or household needs. B)In B2C markets, consumers are heavily influenced by price and personal tastes. C)In B2C markets, the number of business buyers is substantially higher than in B2B markets. D)Buying decisions in B2C markets are usually made by individuals or families and sometimes are unplanned or impulsive. E)The demand for goods and services for B2C markets is often derived from B2B sales.

Which of the following best defines the linkage between consumers' demand for a company's output and its purchase of necessary inputs to manufacture or assemble that particular output? A)Competitive demand B)Derived demand C)Latent demand D)Composite demand E)Negative demand

AutoParts Inc.is a firm involved in producing various electrical components used in the production of cars.The demand for its products is dependent on the demand for new cars.Which of the following best explains the demand for AutoParts' products? A)Latent demand B)Composite demand C)Negative demand D)Competitive demand E)Derived demand

Jeans are very popular among North American teenagers.To meet the increasing demand for jeans, VogueJeans Inc., a popular jeans manufacturer, decides to purchase more raw materials from its suppliers to manufacture its jeans.This increased demand for raw materials caused by an increased demand for jeans is referred to as: A)competitive demand. B)negative demand. C)derived demand. D)latent demand. E)composite demand.

Verdun Windows is the Canadian supplier of high-quality, energy-efficient windows for homes and offices.The housing boom in Canada in the late 1990s through the early 2000s resulted in a 500 percent increase in the amount of windows Verdun sold when compared to the period from 1990 to 1993, when the housing market was sluggish.This is an example of: A)derived demand. B)competitive demand. C)latent demand. D)composite demand. E)negative demand.

Which of the following statements does NOT describes a market characteristic of B2B buying? A)More people are usually involved in B2B buying decision. B)The number of business buyers is higher than the number of buyers in B2C markets. C)In B2B markets, buyers and sellers strive to develop close relationships with each other and find a win-win situation for both parties. D)Demand in many business market is inelastic. E)The size of the orders is substantially larger than consumer purchases.

Which of the following statements describes the nature of products in business-to-business (B2B)markets? A)The products sold in these markets are mainly finished goods assembled by firms. B)The products are sophisticated and must conform to technical standards of the buyer. C)There is no time-bound delivery of products in B2B markets. D)Consumers buy the products from B2B markets for their own personal consumption. E)Technical assistance and after-sale service is not mandatory for products in B2B markets.

Which of the following statements is NOT true about the nature of the buying process in B2B markets? A)Reciprocal arrangements exist between the buyers and sellers. B)The buying process involves qualified, and professionals buyers. C)Online buying over the Internet is very common. D)The buying efforts in these markets are less structured and formalized. E)The buying process in these markets involves competitive bidding, negotiated pricing, and complex financial arrangements.

In business-to-business (B2B)markets, which of the following is a buying practice arrangement where two firms agree to buy each other's products and services? A)Impulsive buying B)Erratic buying C)Dissonance buying D)Reciprocal buying E)Variety-seeking buying

In most B2B marketing, which of the following is an integral component of the transaction? A)The government B)Personal consumption C)Brand reputation D)The salesperson E)Personal tastes

Rafael works as a sales representative for a firm that processes leather that can be further used to make bags, shoes, and seat covers.Rafael promotes these products to various car companies and bag manufacturers.In this context, what type of sales activity is practised by Rafael? A)C2B B)Modified rebuy C)B2B D)B2C E)New buy

The third digit in an NAICS code represents: A)the industry group. B)the subsector. C)a specific subgroup within the industry. D)the sector in the economy. E)the country-level industry.

Which of the following classification systems can be quite useful to B2B marketers for segmenting and targeting markets? A)GPO B)SIC C)NAICS D)NAFTA E)MERX

A manufacturing firm that has developed a new product can use the NAICS codes to: A)identify the type of firms that constitute its target market. B)establish the potential banking partners. C)foster long-term relations with buyers. D)create mergers and joint ventures. E)test the quality of its new product.

The buying processes in both B2B and B2C markets begin with: A)central planning. B)need recognition. C)postpurchase dissonance. D)alternative evaluation. E)order specification.

Which stages in the B2B buying process are more formal and structured compared to the B2C buying process? A)Sales strategy and postpurchase evaluation B)Customer value creation and government regulation C)Information search and alternative evaluation D)Need recognition and alternative evaluation E)Order specification and performance analysis

The first stage of the B2B buying process involves: A)consideration of alternative solutions to derive potential specifications. B)posting of RFP needs on the company website to invite alternative suppliers. C)analysis of RFP proposals. D)vendor negotiation and selection. E)need recognition through either internal or external sources.

A construction firm realizes that suppliers have increased the prices of steel after doing a market analysis for the prices quoted by various suppliers for the same type of steel.Also, the firm is not satisfied with the performance of the supplier and decides to replace it.In the context of the business-to-business (B2B)buying process, the firm is currently in the stage of: A)proposal analysis. B)RFP process. C)need recognition. D)supplier selection. E)product specification.

CAMO Inc.is a firm that assembles desktop computers and buys components from various suppliers.The firm is not happy with the quality of one of the components and decides to replace it with a component that can improve the quality of its final product.The R&D department formulates the requirements for the desired component and posts it on the firm's website.In the context of the B2B buying process, CAMO Inc.is currently in the stage of: A)order specification. B)product specification. C)RFP process. D)need recognition. E)proposal analysis.

Observing the after-effects of Hurricane Katrina, many states re-evaluated the requirements for construction materials used in coastal area building projects.Which of the following should vendors pay attention to regarding construction material requirements? A)Derived demand B)Reciprocal buying C)Autocratic buying D)Product specifications E)Straight rebuys

The stage of the business-to-business buying process in which companies invite alternative suppliers to bid on supplying their required components is referred to as: A)product specification. B)proposal analysis. C)supplier selection. D)order specification. E)the request-for-proposals process.

After need recognition and product specification, many firms using the business-to-business buying process: A)identify product specification assessed through cultural determinism. B)issue a request for proposals from invited suppliers. C)proceed to proposal analysis. D)enter vendor negotiation and selection. E)revise need recognition through either internal or external sources.

A mining corporation is negotiating the terms of sale with one of the vendors that has responded to its request for proposal (RFP).In which of the following stages of the business-to-business (B2B)buying process is this negotiation activity found? A)Purchase B)Need recognition C)RFP process D)Proposal analysis and supplier selection E)Vendor performance assessment

After posting a request for proposal (RFP)for telecommunication equipment, the Department of National Defence received six proposals from qualified vendors.With reference to the B2B buying process, in the next step, the Department of National Defence will most likely: A)recognize proposal obstacles that the firm must comply with. B)revise need recognition through external sources. C)invite alternative suppliers to bid on supplying what is requested. D)proceed to vendor performance assessment. E)evaluate the proposals and likely narrow the choice to a few suppliers.

What is the stage after proposal analysis and supplier selection? A)Product specification B)RFP process C)Order specification D)Vendor performance assessment E)Need recognition

A group of people typically responsible for the purchasing decisions in large organizations is called a(n): A)sales team. B)expert committee. C)buying centre. D)group of business experts. E)core committee.

An automobile firm has received its order placed with a supplier firm.The company associates are assessing the quality of the product and the other issues associated with the deal.In the context of the business-to-business (B2B)buying process, the automobile company is in the stage of: A)need recognition. B)order specification. C)vendor performance analysis. D)product specification. E)RFP process.

The buying centre participant who first suggests buying the particular product or service is called a(n): A)influencer. B)decider. C)initiator. D)gatekeeper. E)buyer.

The University of Ontario had obtained grants from the government to improve the facilities for students.The faculty members at the university recommended the purchase of books of some authors to be stored in the library.The faculty members are playing the role of: A)decider. B)influencer. C)gatekeeper. D)initiator. E)user.

A car sales showroom specifies a particular brand of mag wheels to be used for the car it sells.The company considers the request made by the showroom and decides to use the wheels in its cars.The role played by the showroom is similar to that of a(n): A)decider. B)gatekeeper. C)moderator. D)buyer. E)initiator.

An influencer is a buying centre participant who: A)handles the paperwork of the actual purchase. B)ultimately determines the entire buying process. C)controls information or access, or both, to decision makers. D)consumes or uses the product or service. E)persuades other members in making the final decision with his or her views.

A construction firm decides to buy heavy-duty equipment to install a new pipeline in the city.The engineers of the firm specify the equipment requirements and recommend a particular supplier whose product meets these requirements.In this buying centre context, the role played by the engineers is that of a(n): A)influencer. B)decider. C)buyer. D)gatekeeper. E)moderator.

A corporate office decides to replace the windows in its building after an employee explains to the authorities that high-end custom windows block excess sunlight and heat.In this buying centre context, the role played by the employee is that of a(n): A)moderator. B)decider. C)buyer. D)gatekeeper. E)influencer.

One of the roles of the decider in a buying centre is to: A)consume the product or service purchased by the gatekeeper. B)determine how to buy a product. C)suggest buying a particular product. D)control information or access to influencers. E)handle the paperwork of the purchase.

Arthur, an executive who works for a pizza chain, determines that the cheese used in the company's pizzas should be bought from a particular vendor, White Cubes Inc.He believes that White Cubes produces cheese that has a great taste and texture and that it suits the recipes that consumers enjoy at his outlets.The role played by Arthur is that of a(n): A)influencer. B)buyer. C)mediator. D)decider. E)user.

A car company invites bids from suppliers for leather to make seat covers.The company receives several proposals, out of which three of the bids comply with its requirements.Kim, who heads the selection panel, finalizes a particular supplier after the negotiations.Kim is a(n): A)initiator. B)decider. C)buyer. D)influencer. E)mediator.

Which of the following phrases defines the role of a buyer in a buying centre? A)A person who utilizes the product or service purchased by the buying centre B)A person who controls information or access to decision makers and influencers C)A person who handles the paperwork of the actual purchase D)A person who suggests buying a particular product E)A person who ultimately determines what product to buy

Mary is admitted to a hospital, and the nurse administers a dextrose solution bought from a particular pharmaceutical supplier to improve Mary's blood glucose level.Mary is the: A)buyer. B)decider. C)user. D)initiator. E)influencer.

A visitor to an ice cream parlour is interested in the choco-sundae that the parlour specializes in, which contains nuts and honey procured from the best suppliers in town.However, the visitor does not like nuts in ice cream and decides to try another ice cream.With reference to the roles in a buying centre, the visitor can be considered the: A)gatekeeper. B)buyer. C)user. D)initiator. E)influencer.

Michael works in an insurance firm.He handles all the formalities and documentation of the insurance policies purchased by the clients.Michael's role is similar to that of a(n): A)buyer. B)user. C)decider. D)influencer. E)agent.

A technical firm that assembles computers decides to buy LCD monitors from a supplier that specializes in LCD monitors and batteries.The materials manager at the firm suggests to the top management to place an order for both monitors and batteries at the same time so that he can save on transportation costs and also get a discount for bulk purchase.The role played by the manager is that of a(n): A)influencer. B)user. C)decider. D)buyer. E)gatekeeper.

In a buying centre, the role of controlling information or access to decision makers is called the: A)decider. B)initiator. C)influencer. D)gatekeeper. E)buyer.

Frank is an administrative assistant at a university.He has access to all the records and information pertaining to students, such as race, social class, family connections, and athletic ability.He restricts administrators from accessing this information, so that the admission process is not affected by these factors and is fair to students.In a buying centre context, Frank's role is similar to the role of a(n): A)influencer. B)decider. C)initiator. D)user. E)gatekeeper.

Reassure Inc.is an insurance firm that focuses on health insurance.Customers must submit all personal details related to their health when taking out an insurance policy.The firm marks all these details as confidential and only a few people within the firm have access to them.In a buying centre context, this role played by the insurance firm in restricting access to client information is similar to the role of a(n): A)decider. B)gatekeeper. C)influencer. D)initiator. E)user.

A buying centre in which one person makes the decision alone though there may be multiple participants is known as a(n): A)democratic buying centre. B)consensus buying centre. C)autocratic buying centre. D)modified buying centre. E)consultative buying centre.

Which of the following best defines a buying centre in which the majority rules while making decisions? A)Autocratic B)Consensus C)Modified D)Consultative E)Democratic

In a consultative buying centre, there are multiple participants: A)but one person makes the decision alone without taking inputs from others. B)and all the participants must reach a collective agreement in making the final decision. C)but the majority rules in making the final decision. D)but one person makes the decision after receiving valuable input from others. E)and one person influences the views of other participants in making the final decision.

In which of the following buying centre cultures must all members of the team reach a collective agreement that they can support a particular purchase? A)Consultative buying centre B)Consensus buying centre C)Autocratic buying centre D)Modified buying centre E)Democratic buying centre

All the members of the expert committee at an automobile firm reached a collective agreement and supported the proposal submitted by a vendor.This is an example of a(n): A)autocratic buying centre. B)consensus buying centre. C)consultative buying centre. D)democratic buying centre. E)modified buying centre.

Which of the following social networking sites is mainly used for professional networking in the business-to-business (B2B)marketplace? A)Facebook B)Orkut C)LinkedIn D)Flickr E)Myspace

The goal of white papers used by marketers in a business-to-business (B2B)marketplace is to: A)promote a product or solution from a specific company in the market. B)help companies manage their followers, track analytics, and update their posts. C)encourage companies to set up goals and put up their own money to increase their accountability. D)provide valuable information that will help the company address its problems with new solutions. E)control information or access to decision makers and influencers.

Which of the following buying situations requires the buying centre to proceed through all the steps of a buying process and involve many people in the buying decision? A)A modified rebuy B)A straight rebuy C)A specific rebuy D)A new buy E)A discount buy

A modified rebuy refers to a buying situation in which: A)a product is being purchased for the first time at a desired price level. B)a similar product has been purchased in the past but some specifications have been changed. C)the buying decision is likely to be quite involved and lengthy. D)the buying centre does not have any previous experience with the product. E)the buying centre buys additional units of a product that had previously been purchased.

The buying situation that occurs most commonly in business-to-business (B2B)markets is a: A)new buy. B)discount buy. C)specific buy. D)straight rebuy. E)modified rebuy.

The buyer is often the only member of the buying centre involved in the process in a: A)modified rebuy. B)supplier buy. C)straight rebuy. D)new buy. E)discount buy.

Which of the following is true about a straight buy? A)The buyer orders a previously purchased product with some modifications. B)The buyer is often the only member of the buying centre involved in the process. C)The buying centre is likely to proceed through all six steps of the buying process. D)The buying organization does not have any experience with the ordered product. E)The buying process involves many people in the buying decision.

Which of the following statements is true about white papers in a business-to-business (B2B)environment? A)About fewer than 5 percent of B2B buyers regularly read white papers before making a purchase. B)White papers are usually directed specifically at household consumers. C)The goal of white papers is to guarantee profits from sale of goods and services. D)A good white paper usually provides information about the industry in a promotional sense. E)A significant majority of B2B marketers use white papers for their marketing efforts.

A cloth manufacturing company requires raw materials such as cotton and jute for its range of products.To gain more knowledge about its needs, the company is guided by a set of documents that provides valuable information about the current trends in the industry.The document also gives various inputs on arriving at the solution for the problem at hand.This type of document is most likely to be in the nature of a: A)mission statement. B)débenture. C)reverse auction. D)bond. E)white paper.

A shoe manufacturing company requires high-quality leather to make shoes that can be used for trekking.It conducts extensive research on the various alternatives available in the market and evaluates thoroughly the pros and cons of it.It spends vast amount of time at every stage of its decision-making process, and draws in heavy participation from each of its members in the buying process.The shoe manufacturing firm is most likely to be involved in a(n): A)modified rebuy. B)repeat buy. C)new buy. D)straight rebuy. E)impulsive buy.

Which of the following is the most complex and difficult of buying situations? A)A modified rebuy B)A new buy C)A straight rebuy D)An impulsive buy E)A repeat buy

At which stage of business-to-business buying process is the evaluation and decision-making activity carried out by the committee at Kid's World? A)Order specification B)Vendor performance assessment C)Proposal analysis and supplier selection D)Product specification E)RFP process

In the context of a buying centre, the role played by Wright in the buying process is similar to that of a(n): A)decider. B)influencer. C)user. D)gatekeeper. E)buyer.

The decision-making process by the expert committee is indicative of a(n): A)autocratic buying centre. B)democratic buying centre. C)consultative buying centre. D)consensus buying centre. E)modified buying centre.

The role played by Arthur in the decision-making process is that of a(n): A)influencer. B)initiator. C)buyer. D)decider. E)user.

The decision taken by the design team is similar to the decision-making process of a(n): A)autocratic buying centre. B)democratic buying centre. C)autonomous buying centre. D)consensus buying centre. E)consultative buying centre.

The decision made by the design team and the order placed by the procurement team indicate that the type of buy made by Claystone is a: A)new buy. B)supplier buy. C)modified rebuy. D)discount buy. E)straight rebuy.

In an autocratic buying centre, there are multiple participants: A)but the decision of the majority will be the final decision. B)but one person makes the final decision without receiving input from others. C)and one person influences the views of the other participants in making the final decision. D)and all the participants must reach a collective agreement to make a final decision. E)but one person makes the final decision after receiving input from others.

Which of the following examples is similar to the decision-making process in a consultative buying centre? A)James, the head of the core committee of a manufacturing firm, decides on the final value of the bid in a proposal without consulting the committee members. B)Charles, a member of the expert committee consisting of 12 members, decides on a particular advertisement to be used in a marketing campaign, as the ad has been approved by 4 members of the committee. C)Mark, who heads a team of qualified professionals, decides on a particular design for a product, after receiving input from the other members of the team. D)David, the chief editor of a magazine, has the complete authority to make the final decision about which articles will be published in the magazine without informing the writers. E)Kenneth, the head of an expert committee in a construction company, decides to buy raw materials from a particular supplier after all the experts agree that the firm will benefit from a deal with this particular supplier.

Which of the following firms is an example of a consensus buying centre? A)A manufacturing firm in which the head of the finance team decides on the value of the bid after a detailed discussion with top management B)A construction firm that will finalize a particular plan only if it is approved by most of the qualified engineers who are part of the designing team C)A mining firm in which the head of the buying centre decides to buy equipment from a particular supplier, as most of the participants are satisfied with the proposal of this supplier D)A car company that decides on a particular tire supplier after receiving the approval of all the experts who were part of the decision-making committee E)A consulting firm in which the head of the recruitment team makes the final decision on recruiting a candidate, irrespective of the decision made by other interviewers

Which of the following examples is similar to the decision-making process in a democratic buying centre? A)Richard, the head of an expert committee in a construction company, decides to buy raw materials from a particular supplier after all the experts agree that the firm will benefit from the deal with this particular supplier. B)Annie, who heads a team of qualified professionals, decides on a particular design for a product after receiving input from other members of the team. C)Darren, the chief editor of a magazine, has the complete authority to make the final decision about which articles will be published in the magazine without informing the writers. D)John, the head of the core committee of a manufacturing firm, decides on the final value of the bid in a proposal without consulting the committee members. E)Julia, a member of an expert committee consisting of six members, decides on a particular advertisement to be used in the marketing campaign, as the ad has been approved by four members of the committee.

A business-to-business purchase made by Smithsons, where Smithsons has purchased a similar product in the past but has now decided on a price change, is referred to as a(n): A)straight rebuy. B)autocratic buy. C)new buy. D)consensus rebuy. E)modified rebuy.

A paint company conducted a market survey to find products that could improve the shelf-life of its products.It chose a solution from a particular vendor after it did a detailed evaluation of the vendor's product.This is an example of a: A)straight rebuy. B)supplier buy. C)modified rebuy. D)new buy. E)discount buy.

Which of the following buying situations requires the buying organization to change its current practices and involves a lot of people in the decision making? A)A new buy B)A supplier buy C)A modified rebuy D)A straight rebuy E)A discount buy

An automobile firm buys exhaust pipes from a certain supplier in the city.The firm finds that the pipes are reliable and in accordance with its specifications.The firm places a repeat order for the exhaust pipes with the same supplier.This is an example of a: A)modified rebuy. B)specific buy. C)straight rebuy. D)new buy. E)discount rebuy.

Business-to-business marketing refers to buying and selling goods or services to be used by final consumers.

The organizations involved in business-to-business transactions include manufacturers, producers, resellers, institutions, and governments.

Wholesalers are marketing intermediaries that resell manufactured products without significantly altering their form.

In business-to-business markets, buyers are heavily influenced by price, personal tastes, brand reputation, or personal recommendations of friends and family.

The buying effort in business-to-business markets is structured, and involves technically trained and qualified professionals.

The salesperson is an integral component of all types of B2C transactions, particularly the fast-moving consumer goods.

The third digit of an North American Industry Classification System code represents the industry group.

Account size is one of the criteria for segmentation of markets in business-to-business marketing.

The information search in the business-to-business process is more informal and less structured when compared to the business-to-consumer process.

All business-to-business purchases go through each stage of the buying process with the same intensity.

In the first stage of the business-to-business (B2B)buying process, organizations come up with potential specifications that suppliers might use to develop their proposals.

A gatekeeper is a buying centre participant who controls information or access to decision makers and influencers.

In a consensus buying centre, one person makes the decision, but he or she solicits input from others before doing so.

In a modified rebuy, the buying organization buys additional units of the products that had previously been purchased.

In the context of building business-to-business (B2B)relationships, a good white paper is one that provides information about the industry solely for promotional purposes.

Post purchase stage in consumer purchase decision is similar to vendor performance assessment in business buying process in that both customers evaluate the supplier for the future purchases.

What is business-to-business (B2B)marketing?

Compare B2B and B2C markets on market, product, buying process, and marketing mix characteristics.Provide examples to support your answer.

What are the key challenges faced by marketers in business-to-business (B2B)markets?

What is derived demand? Provide one example.

What are the typical characteristics of products available in business-to-business (B2B)markets?

How does business-to-business (B2B)buying behaviour differ from B2C buying behaviour in marketing? Support your answer with examples.

Your educational institution is planning to purchase 2000 new computers to equip the labs.Discuss the buying process it would go through to make such a purchase.

Graelona Stores receives a number of responses to its request for proposal (RFP).On what basis will Graelona Stores choose a particular supplier from all the proposals it receives in response to its RFP?

What is a buying centre?

What is organizational culture? How does it influence purchasing decisions in business-to-business (B2B)markets?

What is the significance of white papers in B2B markets?

What are differences between a new buy, a straight rebuy, and a modified rebuy?

How do government purchases differ from the purchases made by institutional organizations in business-to-business (B2B)markets?

Differentiate between business-to-business (B2B)and business-to-consumer (B2C)buying in terms of the nature of the buying process.

Annie is asked to do a performance analysis for a vendor who supplies raw materials to her construction company.What are the steps that Annie is likely to adopt while doing the performance analysis?

John is an initiator, Harry is an influencer, Mary is the buyer, Cecilia is the decider, Sara is a user, and Smith is the gatekeeper.Describe their buying roles in a typical buying centre.

Explain the different types of buying situations.Provide one example for each situation.