types of business markets

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 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

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

______________refers to all of the personal consumption of final consumers.

• International market

• Reseller market

• Business market

• Consumer market

The ________ consists of all the organizations that acquire goods and services used in the production of other services or products that are sold, rented or supplied to others.

• Consumer Market

• Organizational Market

• Government Market

• None of the above

Fewer, larger buyers is the key characteristic of _________

• Business market

• Consumer market

• Both a and b

• None of the above