18 Questions
What type of markets comprise the Business Buying Behavior as mentioned in the text?
Institutional Markets
What is the primary reason for the increase in reluctance of companies to deal with government markets?
Time and uncertainty costs
Which type of business purchase involves evaluation of alternative products?
Modified Rebuy
What is the primary characteristic that distinguishes NFP organizations from commercial organizations in institutional markets?
Fewer resources
In which type of business purchase do buyers purchase the same products routinely from established vendors they have dealt with?
Straight Rebuy
What is the primary reason for the declining gross domestic product generated by manufacturing in Australia and NZ?
"Offshoring"
What is the primary purpose of researching needs and wants in the context of marketing?
To develop more sought-after products
In the CBE framework of marketing, what does the 'Engage' stage primarily focus on?
Behavior change and market intelligence
What type of data is characterized by containing a greater variety, statistical power, and velocity that traditional data processing software may struggle with?
Big data
How does the linkage of data with informed decision-making contribute to business performance improvement?
By enabling the discovery of new insights
Which aspect of behavior does big data analysis primarily focus on?
Search queries and browsing behavior
In the context of the CBE framework, what does 'Build' primarily refer to?
Marketing mix development
Which of the following is NOT one of the four categories that make up the overall business market?
Consumer Markets
What is the primary distinguishing characteristic of business markets compared to consumer markets?
All of the above
Which of the following best describes the extended decision making process for buyers?
High involvement with the purchase decision in a deliberate and detailed way
Industrial distributors are classified as which type of business market participant?
Reseller Markets
What factor is important in determining an effective marketing strategy for a product or service?
All of the above
Which type of purchase decision is characterized by very little buyer involvement, no planning, and the decision made before the need is recognized?
Impulse purchases
Explore the different types of markets in commerce such as producer markets, retailer markets, and government markets. Learn about their functions and roles in the economy.
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