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Exam 6: Business Markets and Business Buyer Behavior

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Question 81

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What does the proposal solicitation stage of the business buying process involve?

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In the proposal solicitation stage of th...

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Question 82

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The main differences between business and consumer markets are in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved.

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Question 83

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Demand for outboard motors depends on consumers purchasing fishing boats. This is an example of ________ demand.

Product value analysis is an approach to enhancing productivity.

The ________ Web site provides a single point of entry through which commercial vendors and government buyers can post, search, monitor, and retrieve opportunities solicited by the entire federal contracting community.

After searching extensively for vendors, Shalina D'Souza, the owner of a manufacturing firm, selected Texcom Technologies Inc. as her firm's primary supplier of bearings and shafts of a specific dimension. Shalina is currently preparing an order form that specifies the number of shafts needed and the expected time of delivery. In other words, she is preparing the ________.

What are the major characteristics of government markets?

How do influencers contribute to the purchase decision process?

Sail Metalworks Inc. is currently looking for the best vendors of metal sheets. In other words, Sail Metalworks is ________.

In a straight rebuy, the buyer wants to alter product specifications, prices, terms, or suppliers.

Rudolf Technologies Inc. decided to enter the automobile service market. Consequently, the company decided to procure the tools and machines needed from a reputable supplier. Rudolf Technologies is facing ________.

Jeremy's, a handbag manufacturer in Lower Manhattan, procures a large stock of leather in anticipation of brisk sales of handbags during December. This is an example of a(n) ________ demand.

Refer to the scenario below to answer the following question(s) . Alpha Stampings Inc. produces 14 metal stampings for the automotive industry. Due to industry design changes and consumer demands, for the next financial year, six of those stampings will require a slight change: two will have an extra hole punched through the side, two will require an extra plating process, and two will require an additional weld operation. In the meantime, purchasing agent Richard Koehl has been asked to reduce the number of Alpha's steel suppliers in an effort to cut costs. After obtaining updated price quotations and steel samples from his current suppliers, Richard faced a dilemma. Until now, he had selected his suppliers based on quality and price, but the major consideration had been the type of steel required and the specialized production processes of his respective suppliers. Not all of Alpha's suppliers could produce the exact grades of steel needed; some suppliers were better at producing certain types of steel than others. Richard contacted several employees at Alpha who had worked with the various types of steel in the past. The quality control manager and line inspector, for example, could help to determine which suppliers had the capabilities of producing specific types of steel. The production control manager could provide input regarding which types of steel worked best in which presses. The warehouse foreman gave inputs regarding how long various types of steel could be held in inventory before rust spots began to form on their surfaces. Each person contributed the necessary information to help Richard in making his decision. -In this instance, Richard plays the role of a(n) ________.

What happens in a modified rebuy?

Business buyer behavior refers to the ________.

In business markets with inelastic demand ________.

Government buyers are affected by all of the following factors EXCEPT ________ factors.

Which of the following is most likely true about a straight rebuy?

Refer to the scenario below to answer the following question(s) . Alpha Stampings Inc. produces 14 metal stampings for the automotive industry. Due to industry design changes and consumer demands, for the next financial year, six of those stampings will require a slight change: two will have an extra hole punched through the side, two will require an extra plating process, and two will require an additional weld operation. In the meantime, purchasing agent Richard Koehl has been asked to reduce the number of Alpha's steel suppliers in an effort to cut costs. After obtaining updated price quotations and steel samples from his current suppliers, Richard faced a dilemma. Until now, he had selected his suppliers based on quality and price, but the major consideration had been the type of steel required and the specialized production processes of his respective suppliers. Not all of Alpha's suppliers could produce the exact grades of steel needed; some suppliers were better at producing certain types of steel than others. Richard contacted several employees at Alpha who had worked with the various types of steel in the past. The quality control manager and line inspector, for example, could help to determine which suppliers had the capabilities of producing specific types of steel. The production control manager could provide input regarding which types of steel worked best in which presses. The warehouse foreman gave inputs regarding how long various types of steel could be held in inventory before rust spots began to form on their surfaces. Each person contributed the necessary information to help Richard in making his decision. -The demand for Alpha Stampings' products is ultimately based on the demand for new automobiles in the consumer market. This is an example of ________ demand.

________ occurs when someone in the company identifies a need that can be met by acquiring a specific product or service.