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Quiz 7-MKT 300

Derived demand
_____ reflects the link between consumers’ demand for a company’s product and the company’s purchase of necessary inputs to manufacture or assemble that particular product.
manufacturers
In B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.
institutions.
In terms of business markets, organizations like hospitals that provide goods and services to people in their care are classified as
Need recognition
The business-to-business buying process is initiated by which of the following steps?
web portals
In the B2B buying process, _____ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer’s needs.
Advisor
Which of the following is not one of the six buying center roles?
influencer, decider, buyer, user, gatekeeper, and initiator
The six roles of the buying center are:
autocratic
In a(n) _____ buying center, there may be many participants, but one person makes the decision alone.
a single decision maker.
Autocratic buying centers are characterized by
modified rebuys.
Most B2B buying situations can be categorized into three types: new buys, straight rebuys, and
straight rebuys
In _____, the buyer is often the only member of the buying center involved in the process.
Institution
A public school system is an example of which type of B2B organization?
Government
The Pentagon spends a huge amount of money on aerospace and defense products. The Pentagon represents which type of B2B organization?
New Buy
Consumer purchases product for the first time. Buying decison is likely to be quite involved because the buyer has no experience with product.
Democratic Buying Center:
A buying center in which the majority rules in making decisions.

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