Chapter 4 -Analyzing_Business_Markets

Word Cloud

List out some major industries making up the business market (e.g. banking)

Multiple Choice

Which of the following is NOT a major industry in the business market?

• Aerospace

• Agriculture

• Retail

• Manufacturing

Multiple Choice

What does B2B stand for?

• Business-to-Business

• Back-to-Back

• Buy-to-Buy

• Business-to-Buyer

Multiple Choice

Which market has fewer but larger buyers?

• Consumer Market (B2C)

• Retail Market

• Business Market (B2B)

• Wholesale Market

Multiple Choice

In the context of B2B markets, what does 'straight rebuy' refer to?

• A one-time purchase of a new product

• Routine repurchase of the same products from approved suppliers

• Buying new products from a new supplier

• Changing product specifications and terms in the repurchase

Multiple Choice

What is a characteristic of the business market compared to the consumer market?

• More buyers, smaller orders

• Short-term focus

• Fewer buyers, larger orders

• Mass marketing strategies

Multiple Choice

Which of the following is an example of a straight rebuy?

• A company buying a new CRM system

• A hotel chain ordering new furniture in a different style

• A school cafeteria ordering the same amount of milk every day

• A manufacturing company increasing their order of raw materials

Multiple Choice

In a modified rebuy, the buyer:

• Orders the same product in the same quantity

• Changes some elements of the order

• Purchases a product for the first time

• Switches to a new supplier

Multiple Choice

Which of the following is an example of a modified rebuy?

• A bakery ordering the same amount of flour each week

• A company upgrading their computer software to a newer version

• A school district buying textbooks for a new course

• A small business purchasing its first company vehicle

Categorize

Options (8)

Businesses, organizations, resellers, government

Individuals and households

Fewer buyers, larger orders

Many buyers, smaller orders

Can be transactional, but brand loyalty matters

Long-term focus, trust, customization

direct sales

Mass marketing, advertising, promotions

Organize these options into the right categories

B2C

B2B

Multiple Choice

Who are 'gatekeepers' in a buying center?

• People who authorize the purchase

• People who control the flow of information

• People who provide information and opinions to influence the decision

• People who handle the actual purchase process

Multiple Choice

Which of the following is NOT a role in the buying center?

• Initiator

• User

• Influencer

• Competitor

Multiple Choice

Who in the buying center has the authority to make the final purchase decision?

• Initiator

• Influencer

• Decider

• Gatekeeper

Match

Match the following

• Initiators

• Influencers

• Deciders

• Approvers

• Gatekeepers

identify the need

Technical personnel

final purchase decision

authorize the purchase

control the flow of information

• identify the need

• Technical personnel

• final purchase decision

• authorize the purchase

• control the flow of information

Drag and Drop

The buying process begins with ​

Placeholder

Drag these tiles and drop them in the correct blank above

Problem recognition

Supplier search

Proposal solicitation

Performance review

Reorder

Reorder the following

• Problem recognition

• General need description and Product specification

• Supplier search

• Proposal solicitation

• Supplier selection

1

2

3

4

5

• 1
• 2
• 3
• 4
• 5

Dropdown

What is the second stage in the buying process?​

Select answer

Multiple Choice

Which of the following is NOT a method for identifying suppliers?

• Trade directories

• Contacts with other companies

• Cold calling consumers

• Trade shows

Multiple Choice

What is the purpose of proposal solicitation in the buying process?

• To evaluate the performance of the chosen supplier

• To invite qualified suppliers to submit proposals

• To finalize the order details with the selected supplier

• To identify the most appropriate suppliers

Multiple Choice

What is the focus of successful B2B relationships?

• Maximizing profit for the seller

• Creating value for both parties

• Minimizing costs for the buyer

• Short-term gains