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Pricing Schools Business

Features Pricing Schools Business

14 Questions

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Types of Business Buying Situations

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Questions and Answers

Which type of buying situation involves the purchase of a packaged solution from a single seller?

Modified rebuy

Systems selling (correct)

New task

Straight rebuy

What is the name for all of the individuals and units that participate in the business decision-making process?

Users

Buying center (correct)

Influencers

Deciders

When does problem recognition occur in the business buying process?

When a purchase decision is made

When external stimuli are received from advertising

When a new product is introduced in the market

When someone in the company recognizes a problem or need (correct)

What describes the general characteristics and quantity of a needed item in the business buying process?

General need description Signup and view all the answers

Which type of buying situation is a routine purchase decision without any modification?

Straight rebuy Signup and view all the answers

What is the purchase decision that requires some research and involves modifying the product specification, price, terms, or suppliers?

Modified rebuy Signup and view all the answers

What is value analysis?

An approach to cost reduction involving the study of components for redesign, standardisation, or less costly production methods Signup and view all the answers

What is the stage of the business buying process in which the buyer invites qualified suppliers to submit proposals?

Proposal solicitation Signup and view all the answers

What does business portfolio planning involve?

Analyzing current business portfolio and shaping the future portfolio by developing growth and downsizing strategies Signup and view all the answers

What is selective retention in consumer buying behavior?

Tendency for people to remember good points made about a brand they favour and forget good points about competing brands Signup and view all the answers

What are cultural factors that affect consumer behavior?

Learned values, perceptions, wants, and behaviors from family and other important institutions Signup and view all the answers

What is included in order-routine specifications in the business buying process?

Writing the final order with the chosen supplier(s), listing technical specifications, quantity needed, expected time of delivery, return policies, and warranties Signup and view all the answers

What is social class in consumer buying behavior?

Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors Signup and view all the answers

What is selective distortion in consumer buying behavior?

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