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Organizational Buying: B2B vs. B2C Market

12 Questions

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Organizational Buying: B2B vs. B2C Market

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Questions and Answers

What is the primary difference between B2B and B2C markets?

Marketing strategies used

Level of professionalism in purchasing (correct)

Number of buyers

Type of products sold

What type of buying situation involves a routine reorder from approved suppliers?

Modified Rebuy

Systems Rebuy

Straight Rebuy (correct)

New Task

What is the objective of the Purchasing/Procurement Process in B2B?

To maximize the quantity purchased

To obtain the lowest possible price

To minimize the time spent on purchasing

To obtain the highest benefit package relative to price (correct)

What is the term for the decision-making unit consisting of individuals/groups with different interests and motives in B2B purchasing?

Buying Center Signup and view all the answers

What is the first stage in the Purchasing/Procurement Process in B2B?

Problem Recognition Signup and view all the answers

Why is demand in B2B markets less affected by price changes?

Because B2B demand is less elastic Signup and view all the answers

What is the primary objective of the Supplier Selection stage in the procurement process?

To evaluate proposals and select the most suitable supplier Signup and view all the answers

Which of the following forces is NOT a component of the Microenvironment in the marketing environment?

Economic forces Signup and view all the answers

What is the primary focus of the Ecological/Physical component of the PEEST framework?

Environmental protection and green consumerism Signup and view all the answers

At which stage of the procurement process are the details of the order, such as quantities and delivery schedules, finalized?

Order-Routine Specification Signup and view all the answers

What is the primary objective of the Performance Review stage in the procurement process?

To assess the performance of the selected supplier Signup and view all the answers

Which of the following is a component of the Macroenvironment in the marketing environment?