12 Questions
What is the primary difference between B2B and B2C markets?
Level of professionalism in purchasing
What type of buying situation involves a routine reorder from approved suppliers?
Straight Rebuy
What is the objective of the Purchasing/Procurement Process in B2B?
To obtain the highest benefit package relative to price
What is the term for the decision-making unit consisting of individuals/groups with different interests and motives in B2B purchasing?
Buying Center
What is the first stage in the Purchasing/Procurement Process in B2B?
Problem Recognition
Why is demand in B2B markets less affected by price changes?
Because B2B demand is less elastic
What is the primary objective of the Supplier Selection stage in the procurement process?
To evaluate proposals and select the most suitable supplier
Which of the following forces is NOT a component of the Microenvironment in the marketing environment?
Economic forces
What is the primary focus of the Ecological/Physical component of the PEEST framework?
Environmental protection and green consumerism
At which stage of the procurement process are the details of the order, such as quantities and delivery schedules, finalized?
Order-Routine Specification
What is the primary objective of the Performance Review stage in the procurement process?
To assess the performance of the selected supplier
Which of the following is a component of the Macroenvironment in the marketing environment?
Economic forces
Learn about the decision-making process of organizational buying, its differences from consumer market, and the characteristics of B2B purchases. Discover the roles of direct purchasing and multiple buying influences in B2B settings.
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