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Markma 10 questions Markma 10 questions Presentation Transcript

  • 10 Questions for learning (Analyzing Business Markets: Chapter 7) Leeyhan Frank B. Dizon September 3, 2010
  • 1. ______ decision-making process by which formal organizations establish the need to purchase products and services
    • Organizational Buying
    • Straight Rebuy
    • Market Buying
    • Outsourcing
    • Direct Purchasing
  • Concept:
    • Organizational buying is the decision-making process by which formal organizations establish the need to purchase products and services and identify, evaluate and choose among alternative brands and suppliers.
  • 1. ______ decision-making process by which formal organizations establish the need to purchase products and services
    • Organizational Buying
    • Straight Rebuy
    • Market Buying
    • Outsourcing
    • Direct Purchasing
  • 2. All are characteristics of Business Markets except
    • Fewer, Larger Buyers
    • Direct and Indirect Purchasing System
    • Inelastic Demand
    • Fluctuating Demand
    • Close supplier-customer relationships
  • Concept: Characterisitcs of Business Markets
    • Fewer Larger Buyers
    • Close supplier-customer relationship
    • Professional Purchasing
    • Many Buying influences
    • Multiple Sales calls
    • Derived Demand
    • Inelastic Demand
    • Fluctuating Demand
    • Geographically Concentrated Buyers
    • Direct Purchasing
  • 2. All are characteristics of Business Markets except
    • Fewer, Larger Buyers
    • Direct and Indirect Purchasing System
    • Inelastic Demand
    • Fluctuating Demand
    • Close supplier-customer relationships
  • 3. The three types of buying situations are: straight rebuy, modified rebuy and ________
    • Original Task
    • Common Task
    • New Task
    • Buying Task
    • Purpose Task
  • Concept:
    • Three types of buying situations are the (1) straight rebuy, (2) modified rebuy and (3) new task.
    Straight Rebuy Modified Rebuy New Task
  • 3. The three types of buying situations are: straight rebuy, modified rebuy and ________
    • Original Task
    • Common Task
    • New Task
    • Buying Task
    • Purpose Task
  • 4. Which of the following is true?
    • A. Business Markets have less geographically concentrated buyers.
    • B. Suppliers must be prepared to adapt their offers to the special needs and procedures
    • C. business suppliers and customers are focusing on one way to manage their business relationships.
    • D. Inelastic demand is one of the characteristics of a service market.
    • E. Purchasing departments were perceived to occupy a high position in the management hierarchy.
  • Concept:
    • Institutional & Government Markets consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.
    • Buyers for government organizations tend to require a great deal of paperwork from their vendors and to favor open bidding and domestic companies.
    • Suppliers must be prepared to adapt their offers to the special needs and procedures found in institutional and government markets.
  • 4. Which of the following is true?
    • A. Business Markets have less geographically concentrated buyers.
    • B. Suppliers must be prepared to adapt their offers to the special needs and procedures which are found in institutional and government markets.
    • C. To improve effectiveness and efficiency, business suppliers and customers are focusing on one way to manage their business relationships.
    • D. Inelastic demand is one of the characteristics of a service market.
    • E. Purchasing departments were perceived to occupy a high position in the management hierarchy, in spite of often managing more than half the company’s costs.
  • 5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.
    • Organizational Markets
    • Public and Private Instituitions
    • Service Markets
    • Suppliers and Consumers
    • Instituitional and Government Markets
  • Concept:
    • Institutional & Government Markets consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.
  • 5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care.
    • Organizational Markets
    • Public and Private Instituitions
    • Service Markets
    • Suppliers and Consumers
    • Instituitional and Government Markets
  • 6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it is an example of:
    • Systems Buying
    • Merging
    • Total Quality Management
    • Outsourcing
    • Straight Rebuy
  • Concept:
    • Many business buyers prefer to buy a total solution to a problem from one seller. This is called systems buying.
    Turn-Key Solution Desired: Bids Solicited Prime Contractors Second-tier contractors System Subcomponent Assembled
  • 6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it is an example of:
    • Systems Buying
    • Merging
    • Total Quality Management
    • Outsourcing
    • Straight Rebuy
  • 7. The first stage in the buying process is usually called:
    • Observation of current market
    • General Description of the need
    • Product and Supplier Specification
    • Problem recognition
    • Probing and Identifying the need.
  • Concept:
    • Stages in the buying process include:
    • problem recognition
    • (2) general need description
    • (3) product specification
    • (4) supplier search
    • (5) proposal solicitation
    • (6) supplier selection
    • (7) order-routine specification
    • (8) performance review
  • 7. The first stage in the buying process is usually called:
    • Observation of current market
    • General Description of the need
    • Product and Supplier Specification
    • Problem recognition
    • Probing and Identifying the need.
  • 8. Systems buying is defined as:
    • Buyers improve the system by acquiring a new company with a better facility.
    • General merging of 2 partner companies for better system management.
    • Product and Supplier Relationship made better by new and advanced system
    • Outsourcing of new system from other parties.
    • Buyers prefer to buy a total solution to a problem from one seller
  • Concept:
    • Many business buyers prefer to buy a total solution to a problem from one seller. This is called systems buying.
    Turn-Key Solution Desired: Bids Solicited Prime Contractors Second-tier contractors System Subcomponent Assembled
  • 8. Systems buying is defined as:
    • Buyers improve the system by acquiring a new company with a better facility.
    • General merging of 2 partner companies for better system management.
    • Product and Supplier Relationship made better by new and advanced system
    • Outsourcing of new system from other parties.
    • Buyers prefer to buy a total solution to a problem from one seller
  • 9. If I buy dollars from BPI and have it transferred through Western Union to my family in the US, it is an example of:
    • Catalog Sites
    • Barter Markets
    • Vertical Markets
    • Spot Markets
    • Private Exchanges
  • Concept: Forms of Electronic Marketplaces
    • Catalog Sites
    • Vertical Markets
    • Pure Play Auction Sites
    • Spot Markets
    • Private Exchanges
    • Barter Markets
    • Buying Alliances
    • SPOT MARKET
    • Cash market
    • where financial
    • instruments
    • are traded and
    • delivered
    • immediately
  • 9. If I buy dollars from BPI and have it transferred through Western Union to my family in the US, it is an example of:
    • Catalog Sites
    • Barter Markets
    • Vertical Markets
    • Spot Markets
    • Private Exchanges
  • 10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?
    • Stakeholders
    • Board of Officers
    • Gatekeepers
    • Suppliers
    • Evaluators
  • Concept: The Buying Center Initiators Users Influencers Deciders Approvers Buyers Gatekeepers
    • 10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?
    • Stakeholders
    • Board of Officers
    • Gatekeepers
    • Suppliers
    • Evaluators
  • 10 Questions for learning (Analyzing Business Markets: Chapter 7) Leeyhan Frank B. Dizon September 3, 2010