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Management and Business Exam Task

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    _____ reflects the link between consumers’ demand for a company’s product and the company’s purchase of necessary inputs to manufacture or assemble that particular product.
    Derived demand
    n B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.
    manufacturers
    Which of the following is an example of a reseller?
    wholesaler
    In terms of business markets, organizations like colleges that provide services to people in their care are classified as
    institutions.
    With its estimated outlay of over $500 billion for fiscal year 2014, the Pentagon represents which type of B2B organization?
    government
    Which of the following statements regarding the B2B buying process is true?
    In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.
    The business-to-business buying process is initiated by which of the following steps?
    need recognition
    he acronym RFP, when used by those involved in business-to-business buying, stands for
    request for proposals.
    Used by many smaller companies to help streamline procurement or distribution processes, _____ is an Internet site whose purpose is to be a major starting point for users when they connect to the web.
    a web portal
    In the B2B buying process, _____ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer’s needs.
    web portals
    In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.
    proposal analysis, vendor negotiation, selection
    What is the final stage in the business-to-business buying process?
    vendor performance assessment
    All of the following are one of the six buying center roles except
    advisor.
    John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation?
    decider
    The individual who controls the flow of information or access to important decision makers serves as the _____ in the buying center.
    gatekeeper
    Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation.
    influencer
    Although she wasn’t told this when hired, at her new job Dana noticed that the employees eat lunch at their desks while continuing to work and that on Fridays most everyone dresses casually. These behaviors are most likely part of the
    organizational culture.
    A firm’s _____ reflects the set of values, traditions, and customs that guide its employees’ behavior.
    organizational culture
    In a(n) _____ buying center, there may be many participants, but one person makes the decision alone.
    autocratic
    In the ABC Automotive manufacturing company, one person is authorized to make a decision, but input from others is gathered before doing so. This is reflective of which type of buying center?
    consultative
    At the Fancy Print Area Rug company, all members of the team must reach a collective agreement that they can support a particular purchase. This is reflective of a(n) ________ buying center.
    consensus
    Autocratic buying centers are characterized by
    a single decision maker.
    The ______________ social network has more than 400 million members worldwide, about 10 percent of whom are college students or recent graduates.
    LinkedIn
    Although social media are used to build relationships in B2B contexts, the majority of B2B marketers use _____ for their marketing efforts.
    white papers
    Most B2B buying situations can be categorized into three types: straight rebuys, modified rebuys, and
    new buys.
    The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a _____ situation.
    new buy
    At the Unique Photo Frame company, the buying center proceeds through all six steps in the buying process and involves many people in the buying decision. This is a ________ situation.
    new buy
    The university will purchase new computers during the summer to update its computer labs. Although the new computers will be more advanced in terms of their technology, the purchase itself will involve some of the same considerations as those used for previous purchases. This is an example of which of the following types of buying situation?
    modified rebuy
    When Kinko’s replenishes its supply of copy paper, it most likely involves a _____ situation.
    straight rebuy
    Maurice is the buyer at the Upper End Clothing Company. He is often the only member of the buying center involved in the process. This is an example of a
    straight rebuy.

    Management and Business Exam Task. (2018, Jan 10). Retrieved from https://graduateway.com/mkt-340-ch-7-essay/

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