MKT1014_Chapter 6

Business buyers usually face more complex buying decisions than do consumer buyers

• TRUE

• FALSE

The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as ________.

• situational analysis

• business buying process

• business diversification

• business process automation

Business buyer behavior refers to the ________.

• buying behavior of consumers who buy goods and services for personal consumption

• buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others

• buying behavior of consumers who rely on small retailers for the regular supply of provisions

• decision process by which business buyers determine which products and services their organizations need to purchase

Which of the following is NOT part of the business market?

• Kruger Group sells interior security systems to resorts.

• A country club buys safety equipment for its swimming pool.

• Maria Theresa shops for her family's groceries at the local Whole Foods store.

• A firm buys laptops from Dell for company salespeople to use when traveling.

Business markets are similar to consumer markets in that ________.

• the nature of the buying unit is the same for both

• the decision processes involved in both the markets are same

• both involve people who assume buying roles and make purchase decisions to satisfy needs

• both share the same market structure

Differences between business markets and consumer markets include all of the following EXCEPT ________.

• nature of the buying unit

• market structure and demand

• number of buyers

• people who make purchase decisions to satisfy needs

The business marketer normally deals with ________ than the consumer marketer does.

• far fewer but far larger buyers

• far more but far smaller buyers

• negligible customer complaints

• far less fluctuations in demands

In business markets with inelastic demand ________.

• the total demand for products is not much affected by short-term price changes

• buyers are highly sensitive to price changes

• derived demand is absent

• a business purchase usually involves fewer decision participants

Which of the following is true about business purchases?

• Business purchases involve more professional purchasing effort than consumer purchases.

• Business purchases involve fewer participants in decision making compared to consumer purchases.

• Purchasing agents are absent in business purchases.

• Business purchases involve less technical and economic considerations compared to consumer purchases.

Since business marketers have fewer buyers than consumer marketers, business buyers often face ________ than do consumer buyers.

• less complex buying decisions

• shorter buying processes

• informal buying processes

• more complex buying decisions