B2B Marketing: Nature & Characteristics

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What distinguishes business market customers from individual consumers?

Business customers have a closer and enduring relationship with sellers. (correct)

Business customers do not follow any predetermined rules in buying.

Business customers make buying decisions without consulting anyone else.

Business customers make smaller purchases than individual consumers.

What is a characteristic of the demand for business products according to the text?

It is unrelated to final consumer demand.

It is derived from final consumer demand. (correct)

It is smaller in volume compared to consumer demand.

It is driven by government institutions only.

In business markets, what type of buying behavior is emphasized according to the text?

Emotional buying

Intuitive buying

Random buying decisions

Impersonal and rational buying (correct)

What is a key characteristic of buyer-seller relationships in business markets?

Close and enduring (partnership) Signup and view all the answers

What type of buying decisions are common in business markets?

Decisions influenced by multiple buying influences (buying centre) Signup and view all the answers

What term describes the relationship evolution from suppliers to partners in business markets?

Bidirectional reciprocal partnership Signup and view all the answers

What is the key difference in the perceived risk between consumer and business markets?

Perceived risk is lower in consumer markets than in business markets. Signup and view all the answers

What is the key difference in the decision-making process between consumer and business markets?

Decision-making is individual in consumer markets and collective in business markets. Signup and view all the answers

What is the key difference in the negotiation process between consumer and business markets?

Negotiation is quick in consumer markets and lengthy & detailed in business markets. Signup and view all the answers

Which of the following is a key difference in the market strategies employed by Dell for desktop computers in the consumer and business markets?

Dell uses standardized products in the consumer market and customized products in the business market. Signup and view all the answers

What is the key difference in the relationship marketing approaches used in consumer and business markets?

Relationship marketing is used more in business markets than in consumer markets. Signup and view all the answers

What is the key difference in the post-sales service between consumer and business markets?

Post-sales service is more frequent and extensive in business markets than in consumer markets. Signup and view all the answers

What is the primary difference between consumer and business markets according to the passage?

The purposes of purchase and motivation are different Signup and view all the answers

Which of the following is NOT a characteristic of business marketing customers mentioned in the passage?

Emotional and impulsive purchasing behavior Signup and view all the answers

According to the passage, which of the following is a key to successful business marketing?

Emphasizing a profit focus and partnering for increased value Signup and view all the answers

What is the primary purpose of business marketing according to the passage?

To understand, create, and deliver value to business customers Signup and view all the answers

How does the marketing approach differ between consumer and business markets, according to the passage?

The marketing approach focuses on personal relationships and customization in business markets Signup and view all the answers

Which of the following is an example of a product that is purchased in both the consumer and business markets, according to the passage?

Furniture Signup and view all the answers

B2B Marketing: Nature & Characteristics - Week 2 Concepts

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