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Exam 7: Business Markets and Buying Behavior

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Question 31

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Wholesalers sell primarily to ultimate consumers.

A) True
B) False

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Question 32

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All companies, no matter what their size or market position, maintain only one buying center.

A) True
B) False

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Question 33

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The state of Colorado is preparing to buy a large quantity of frozen orange juice for use in a large school district. Fresh Squeeze, Inc. is in the citrus juice business but has never sold to the government market. To have a chance at getting this order, Fresh Squeeze's first step must be to

Examining quality, design, materials, and item reduction to acquire a product in the most cost-effective way falls under which stage of the business buying decision process?

What are the four major factors that influence business buying decisions?

What is a primary difference between business and consumer buyers?

Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets.

Business customers generally seek to obtain detailed information about a product before purchasing it.

Quick Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Quick Tools, Inc. The company would be part of what type of business market?

Because retailers have to be concerned with product selection, price, and space, they often evaluate products on the basis of

Explain how purchase decisions for business products may be influenced by persons in a buying center.

______ is(are) an essential consideration for business customers because it influences operating costs and costs of goods sold.

Memorial Hermann Hospital decides to redo its kitchen with new flooring, cabinets, counters, and appliances. The hospital compiles a description of the project and then asks sellers to submit bids. After determining the most attractive bids, the hospital will then work with two or three companies to determine who will get the contract. This is an example of using ____ for a purchase decision.

Business customers are forced to satisfy personal goals in pursuits that lie outside their jobs.

Jose owns an ice cream and frozen treat restaurant and is considering adding new menu items. He recently met with the representative of a yogurt company who is trying to convince Jose to add the frozen yogurt to his menu. Jose has never offered a yogurt product in the restaurant and has concentrated on ice cream items. The yogurt product would not need a different freezer or dispensing unit, so the investment would be similar to changing flavors of ice cream. However, since he's never offered yogurt, he's unsure what the market response will be and how much profit he can achieve with the frozen yogurt. What type of purchasing decision does this represent for Jose?

Individual influencing factors refer to

In industries in which price changes occur frequently, demand fluctuations have practically been eliminated since buyers have become used to these changes and have learned to ignore them.

How has the Internet facilitated the organizational buying process?

Your firm manufactures motorcycles for the consumer market. You purchase raw materials to build the motorcycles from a variety of suppliers in the U.S. and abroad. The volume of your raw materials purchases is a function of the customer demand for your firm's motorcycles. Which of the following best describes the type of demand your firm has for these raw materials?

Of the three types of business purchases, the straight rebuy purchase usually requires the most information.