MARK 3336 EXAM #2 VERIFIED STUDY GUIDE
Business buyer behavior - Answers - Buying behavior of organizations that buy goods
and services for use in the production of other products and services that are sold,
rented, or supplied to others.
Business buying process - Answers - Business buyers determine which products and
services their organizations need to purchase and then find, evaluate, and choose
among alternative suppliers and brands.
Derived demand - Answers - Business demand that ultimately derives from the demand
for consumer goods.
Supplier development - Answers - Systematically developing networks of supplier-
partners to ensure a dependable supply of the products and materials that they use in
making their own products or reselling to others.
Straight rebuy - Answers - A business buying situation in which the buyer routinely
reorders something without any modifications.
Modified rebuy - Answers - A business buying situation in which the buyer wants to
modify product specifications, prices, terms, or suppliers.
New task - Answers - A business buying situation in which the buyer purchases a
product or service for the first time.
Systems (solutions) selling - Answers - Buying a packaged solution to a problem from a
single seller, thus avoiding all the separate decisions involved in a complex buying
situation.
Buying center - Answers - All the individuals and units that play a role in the purchase
decision-making process.
Users - Answers - Members of the buying center who will actually use the purchased
product or service.
Influencers - Answers - Members of the buying center who help define specifications
and provide information for evaluating alternatives.
Buyers - Answers - Members of the buying center who make an actual purchase.
Deciders - Answers - Members of the buying center who have formal or informal power
to select or approve the final suppliers.
, Gatekeepers - Answers - Members of the buying center who control the flow of
information to others.
Problem recognition - Answers - First stage of the business buying process in which
someone in the company recognizes a problem or need that can be met by acquiring a
good or a service.
General need description - Answers - Stage in the business buying process in which a
buyer describes the general characteristics and quantity of a needed item.
Product specifications - Answers - Stage in the business buying process in which the
buying organization decides on and specifies the best technical product characteristics
for a needed item.
Supplier search - Answers - Stage in the business buying process in which the buyer
tries to find the best vendor.
Proposal solicitation - Answers - Stage in the business buying process in which the
buyer invites qualified suppliers to submit proposals.
Supplier selection - Answers - Stage in the business buying process in which the buyer
reviews proposals and selects a supplier(s).
Order-routine specification - Answers - Stage in the business buying process in which
the buyer writes the final order with the chosen supplier(s), listing the technical
specifications, quantity needed, expected time of delivery, return policies, and
warranties.
Performance review - Answers - Stage in the business buying process in which the
buyer assesses the performance of the supplier and decides to continue, modify, or
drop the arrangement.
E-procurement - Answers - Purchasing through electronic connections between buyers
and sellers--usually online.
Institutional markets - Answers - Schools, hospitals, nursing homes, prisons, and other
institutions that provide goods and services to people in their care.
Government market - Answers - Governmental units--federal, state, and local--that
purchase or rent goods and services for carrying out the main functions of government.
Market segmentation - Answers - Dividing a market into smaller segments of buyers
with distinct needs, characteristics, or behaviors that might require separate marketing
strategies or mixes.
Business buyer behavior - Answers - Buying behavior of organizations that buy goods
and services for use in the production of other products and services that are sold,
rented, or supplied to others.
Business buying process - Answers - Business buyers determine which products and
services their organizations need to purchase and then find, evaluate, and choose
among alternative suppliers and brands.
Derived demand - Answers - Business demand that ultimately derives from the demand
for consumer goods.
Supplier development - Answers - Systematically developing networks of supplier-
partners to ensure a dependable supply of the products and materials that they use in
making their own products or reselling to others.
Straight rebuy - Answers - A business buying situation in which the buyer routinely
reorders something without any modifications.
Modified rebuy - Answers - A business buying situation in which the buyer wants to
modify product specifications, prices, terms, or suppliers.
New task - Answers - A business buying situation in which the buyer purchases a
product or service for the first time.
Systems (solutions) selling - Answers - Buying a packaged solution to a problem from a
single seller, thus avoiding all the separate decisions involved in a complex buying
situation.
Buying center - Answers - All the individuals and units that play a role in the purchase
decision-making process.
Users - Answers - Members of the buying center who will actually use the purchased
product or service.
Influencers - Answers - Members of the buying center who help define specifications
and provide information for evaluating alternatives.
Buyers - Answers - Members of the buying center who make an actual purchase.
Deciders - Answers - Members of the buying center who have formal or informal power
to select or approve the final suppliers.
, Gatekeepers - Answers - Members of the buying center who control the flow of
information to others.
Problem recognition - Answers - First stage of the business buying process in which
someone in the company recognizes a problem or need that can be met by acquiring a
good or a service.
General need description - Answers - Stage in the business buying process in which a
buyer describes the general characteristics and quantity of a needed item.
Product specifications - Answers - Stage in the business buying process in which the
buying organization decides on and specifies the best technical product characteristics
for a needed item.
Supplier search - Answers - Stage in the business buying process in which the buyer
tries to find the best vendor.
Proposal solicitation - Answers - Stage in the business buying process in which the
buyer invites qualified suppliers to submit proposals.
Supplier selection - Answers - Stage in the business buying process in which the buyer
reviews proposals and selects a supplier(s).
Order-routine specification - Answers - Stage in the business buying process in which
the buyer writes the final order with the chosen supplier(s), listing the technical
specifications, quantity needed, expected time of delivery, return policies, and
warranties.
Performance review - Answers - Stage in the business buying process in which the
buyer assesses the performance of the supplier and decides to continue, modify, or
drop the arrangement.
E-procurement - Answers - Purchasing through electronic connections between buyers
and sellers--usually online.
Institutional markets - Answers - Schools, hospitals, nursing homes, prisons, and other
institutions that provide goods and services to people in their care.
Government market - Answers - Governmental units--federal, state, and local--that
purchase or rent goods and services for carrying out the main functions of government.
Market segmentation - Answers - Dividing a market into smaller segments of buyers
with distinct needs, characteristics, or behaviors that might require separate marketing
strategies or mixes.
