The purchase of goods or services for use by an organization in producing other goods and services, to support the daily operations of the organization, or for resale is called:

Which of the following is NOT a characteristics of business markets?

When one company re-labels a product, and incorporates it within a different product, in order to sell it under its own brand name and offering its own warranty, support and licensing, what is this referred to as?

organizations that purchase goods and services that are then consumed as part of their production and manufacturing processes are referred to as ....

A unique purchase situation in business market that requires considerable effort on the decision maker's part is called:

Examples of business market items that would usually be purchased as a straight re-buy are

Which of the following is NOT a membership of an organization's decision making unit?

The function performed by gatekeeper in the company decision making unit is to....

Market segmentation is the process of dividing a market into groups of customers who have similar requirements for a product or service offering

There are FOUR criteria used to evaluate the potential market segments which are measurable, substantial, accessible and sequential

If major competitors follow differentiated marketing strategy, a business marketer should follow undifferentiated marketing strategy

Criteria used for evaluating market segments include size and growth, competitive analysis, company objectives and resources and profitability analysis

If major competitors follow differentiated marketing strategy, a business marketer should follow undifferentiated marketing strategy

Concentrated marketing means company focus all of their marketing efforts on single or relatively few, carefully-defined segments

Differentiated marketing strategy involves more risks and can be done by a company whose resources are limited

Market positioning can be done by narrowly defined customer group, that seeks products or services tailored specially to the individual needs and preferences

Business marketing intelligence system is defined as a broad spectrum (range) of information that is required on continuous basis to make decisions

In conducting business marketing research, defining respondent is more difficult as compare to consumer research

In business marketing research, secondary data, exploratory research and expert opinion are more reliance.

Market share analysis is an important performance indicator that determines if the business firm is the leader or the follower in that industry

Choose the THREE scope of business marketing research

Choose THREE broad strategies that the firm may adopt for target market strategies

Out of six purchase objectives for business market, choose THREE of them

Modified re-buy situations occurs when the organization is not satisfied with the performance of the existing suppliers, or the need arises for cost reduction or quality improvement