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TOP 10 Learning Questions for
Chapter 7:
Analyzing Business Markets Briand Dayday
September 16, 2011
www.brianddayday.blogspot.com
a. Consumer markets
b. Business markets
c. Demand markets
d. Supplier markets
Question 1:
_______ consists of all the organizations
that acquire goods & services used in the
production of other products & services
that are sold, rented or supplied to others
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Leather Shoe
Manufacturers Wholesalers Retailers Consumers
Concept:
What are Business Markets?
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Process of Producing and Selling Shoes
Each party in the supply chain also buys goods to support their operations
Concept Explanation:
Definition of Business Markets
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Business markets consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.
a. Consumer markets
b. Business markets
c. Demand markets
d. Supplier markets
Answer 1:
_______ consists of all the organizations
that acquire goods & services used in the
production of other products & services
that are sold, rented or supplied to others
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a. Straight rebuy
b. Modified rebuy
c. New task
d. All of the above
Question 2:
A monthly set order of office
supplies is an example of what?
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Concept:
Business Buying Situations
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Straight Rebuy
Modified Rebuy
New Task
Purchase decisions are based on these buying situations
Concept Explanation:
Business Buying Situations
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• Reorders supplies (office supplies, bulk chemicals) at a routine basis and chooses from list of suppliers.
Straight Rebuy
• The buyer wants to modify product specs, prices, delivery requirements from previous orders.
Modified Rebuy
• Purchaser buys a product for the first time. New Task
a. Straight rebuy
b. Modified rebuy
c. New task
d. All of the above
Answer 2:
A monthly set order of office
supplies is an example of what?
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a. Initiators
b. Users
c. Influencers
d. Gatekeepers
e. Deciders
Question 3:
Telephone Operators are examples
of what?
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Concept:
Roles in Business Buying Process
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• Those requesting the product Initiators
• Those who will use the product or service Users
• Those who influence the buying decision Influencers
• Those who decide on product reqs & suppliers Deciders
• Those authorizing actions of buyers Approvers
• Those who have authority to select supplier & arrange purchase terms Buyers
• Those who prevent information from reaching members of buying center Gatekeepers
Concept Explanation:
Roles in Business Buying Process
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Initiators
Users
Influencers
Deciders Approvers
Buyers
Gatekeepers
Buying Center
Department in need
Department to use
Technical Personnel
Department Head Budget Committee
Purchasing Dept.
Telephone Operator
a. Initiators
b. Users
c. Influencers
d. Gatekeepers
e. Deciders
Answer 3:
Telephone Operators are examples
of what?
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a. Business marketers need to figure out who are the major decision participants.
b. Business marketers need to consider what decisions do they influence.
c. Business marketers need to determine the evaluation criteria to use for the decision.
d. All of the above.
Question 4:
Which of the ff. is true about
buying center targeting?
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Who are the major decision participants?
What decisions do they influence?
What is their level of influence?
What evaluation criteria do they use?
Concept:
To target their efforts properly,
business marketers must figure out:
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A company sells disposable surgical gowns to hospitals. The hospital personnel who participate in this buying decision is the VP purchasing, Operating room administrator, and the Surgeons. The VP analyses whether the hospital should buy disposable gowns or reusable gowns.
Concept Explanation:
Buying Center Targeting Situation
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Who are the major Decision participants?
What decisions do they influence?
If the findings favour disposable gowns, then the operating-room administrator compares various competitors’ products and prices and makes a choice. The administrator considers absorbency, antiseptic quality, design and cost.
Concept Explanation:
Buying Center Targeting Situation
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What is the level of influence?
What evaluation Criteria did they use?
a. Business marketers need to figure out who are the major decision participants.
b. Business marketers need to consider what decisions do they influence.
c. Business marketers need to determine the evaluation criteria to use for the decision.
d. All of the above.
Answer 4:
Which of the ff. is true about
buying center targeting?
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a. Problem recognition
b. General need description
c. Product specification
d. Supplier solicitation
e. Order-routine specification
Question 5:
All are stages in the Buying
Process, except?
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Concept:
Stages in Buying Process
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New Task Modified Rebuy
Straight Buy
Problem recognition
General need description
Product specification
Supplier search
Proposal solicitation
Supplier selection
Order-routine specification
Performance review
Maybe
Maybe
Maybe
Maybe
Maybe
Maybe
Concept Explanation:
Stages in Buying Process
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Problem recognition
General need description
Product specification
Supplier search
Proposal solicitation
Supplier selection
Order routine specification
Performance review
a. Problem recognition
b. General need description
c. Product specification
d. Supplier solicitation
e. Order-routine specification
Answer 5:
All are stages in the Buying
Process, except?
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a. Limiting quantity, allowing no refunds, making no adjustments, and providing no services.
b. Allowing no refunds, making no adjustments, providing no services, and limiting quantity.
c. Providing no services, limiting quantity, making no adjustments, and allowing no refunds.
d. None of the above.
Question 6:
Some companies handle price-oriented
buyers by, _______, _______, _______, and
_________.
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1. Limit quantity purchased
2. Allow no refunds
3. Make no adjustments
4. Provide no services
Concept Explanation:
Overcoming Price Pressures
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a. Limiting quantity, allowing no refunds, making no adjustments, and providing no services.
b. Allowing no refunds, making no adjustments, providing no services, and limiting quantity.
c. Providing no services, limiting quantity, making no adjustments, and allowing no refunds.
d. None of the above.
Answer 6:
Some companies handle price-oriented
buyers by, _______, _______, _______, and
_________.
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a. Catalog sites
b. Spot markets
c. Pure Play auction sites
d. Barter markets
e. Buying alliances
Question 7:
Ebay, Amazon, and Sulit.com are
examples of what?
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Catalog sites
Vertical markets
Pure play auction sites
Spot markets
Private exchanges
Barter markets
Buying alliances
Concept 7:
Searching for Suppliers
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Concept Explanation:
Searching for Suppliers
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• Electronic catalogs Catalog sites
• Ordering raw materials from specialized websites (Plastics.com)
Vertical markets
• Online marketplaces (Ebay, Amazon) Pure play auction sites
• On spot electronic markets, prices change by the minute
Spot markets
• Private exchanges to link groups of suppliers over the web
Private exchanges
• Participants offer to trade goods or service Barter markets
• Companies buying the same goods join together to form purchasing consortia
Buying alliances
a. Catalog sites
b. Spot markets
c. Pure Play auction sites
d. Barter markets
e. Buying alliances
Answer 7:
Ebay, Amazon, and Sulit.com are
examples of what?
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a. Direct survey; where customers are asked to place a direct dollar value on one or more changes in the market offering
b. Importance ratings; where customers rank their preferences for alternative market offerings or concepts.
c. Conjoint analysis; where customers attack monetary value of 3 levels of a given attribute.
d. None of the above
Question 8:
Which of the following is true?
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Check definitions in the Book p. 236
Internal engineering assessment
Field value-in-use assessment
Focus-group value assessment
Direct survey questions
Conjoint analysis
Benchmarks
Compositional approach
Importance ratings
Concept:
Researching Customer Value
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a. Direct survey; where customers are asked to place a direct dollar value on one or more changes in the market offering
b. Importance ratings; where customers rank their preferences for alternative market offerings or concepts.
c. Conjoint analysis; where customers attack monetary value of 3 levels of a given attribute.
d. None of the above
Answer 8:
Which of the following is true?
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a. Importance of supply
b. Availability of alternatives
c. Complexity of demand
d. Supply market dynamism
e. All of the above.
Question 9:
All are factors of buyer-supplier
relationships, except?
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Availability of alternatives
Importance of supply
Complexity of supply
Supply market dynamism
Concept Explanation:
Buyer-supplier Relationship
Factors
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a. Importance of supply
b. Availability of alternatives
c. Complexity of demand
d. Supply market dynamism
e. All of the above.
Answer 9:
All are factors of buyer-supplier
relationships, except?
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a. Mutually adaptive
b. Cooperative systems
c. Customer is king
d. Bare bones
e. None of the above
Question 10:
Supplier adapting to consumer
requests w/o any demands in return,
is an example of what category?
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Basic buying and selling – routine exchanges with moderate levels of cooperation and information exchange
Bare bones – adaptation by the seller and less cooperation and information exchange.
Contractual transaction – defined by a formal contract, with low levels of trust, and cooperation.
Customer supply – competition rather than cooperation is the dominant form of governance.
Concept:
Buyer-seller Relationships
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Cooperative systems – united in operational ways, but neither demonstrates commitment through legal means or adaptation.
Collaborative – trust and commitment lead to true partnership.
Mutually adaptive – make many relationship-specific adaptations, but w/o achieving trust and cooperation.
Customer is king – seller adapts to meet the customer needs w/o expecting much adaptation or change in exchange.
Concept Explanation:
Buyer-seller Relationships
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a. Mutually adaptive
b. Cooperative systems
c. Customer is king
d. Bare bones
e. None of the above
Answer 10:
Supplier adapting to consumer
requests w/o any demands in return,
is an example of what category?
www.brianddayday.blogspot.com
TOP 10 Learning Questions for
Chapter 7:
Analyzing Business Markets Briand Dayday
September 16, 2011
www.brianddayday.blogspot.com
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