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?

    <p>General need description</p> Signup and view all the answers

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

    <p>Straight rebuy</p> 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?

    <p>Modified rebuy</p> Signup and view all the answers

    What is value analysis?

    <p>An approach to cost reduction involving the study of components for redesign, standardisation, or less costly production methods</p> 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?

    <p>Proposal solicitation</p> Signup and view all the answers

    What does business portfolio planning involve?

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

    What is selective retention in consumer buying behavior?

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

    What are cultural factors that affect consumer behavior?

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

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

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

    What is social class in consumer buying behavior?

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

    What is selective distortion in consumer buying behavior?

    Signup and view all the answers

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