Chap 7 analyzing business markets dayday

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Chap 7 analyzing business markets dayday

  1. 1. TOP 10 Learning Questions for Chapter 7: Analyzing Business Markets Briand Dayday September 16, 2011 www.brianddayday.blogspot.com
  2. 2. Question 1:_______ consists of all the organizationsthat acquire goods & services used in theproduction of other products & servicesthat are sold, rented or supplied to othersa. Consumer marketsb. Business marketsc. Demand marketsd. Supplier markets www.brianddayday.blogspot.com
  3. 3. Concept: What are Business Markets? Process of Producing and Selling Shoes  Each party in the supply chain also buys goods to support their operations ShoeLeather Wholesalers Retailers Consumers Manufacturers www.brianddayday.blogspot.com
  4. 4. Concept Explanation:Definition of Business MarketsBusiness marketsconsists of all theorganizations that acquiregoods and services used inthe production of otherproducts or services thatare sold, rented, orsupplied to others. www.brianddayday.blogspot.com
  5. 5. Answer 1:_______ consists of all the organizationsthat acquire goods & services used in theproduction of other products & servicesthat are sold, rented or supplied to othersa. Consumer marketsb. Business marketsc. Demand marketsd. Supplier markets www.brianddayday.blogspot.com
  6. 6. Question 2:A monthly set order of officesupplies is an example of what?a. Straight rebuyb. Modified rebuyc. New taskd. All of the above www.brianddayday.blogspot.com
  7. 7. Concept: Business Buying SituationsPurchase decisions are based onthese buying situations Straight Modified New Rebuy Rebuy Task www.brianddayday.blogspot.com
  8. 8. Concept Explanation: Business Buying SituationsStraight • Reorders supplies (office supplies, bulk chemicals) at a routine basis and chooses Rebuy from list of suppliers.Modified • The buyer wants to modify product specs, prices, delivery requirements from previous Rebuy orders.New Task • Purchaser buys a product for the first time. www.brianddayday.blogspot.com
  9. 9. Answer 2:A monthly set order of officesupplies is an example of what?a. Straight rebuyb. Modified rebuyc. New taskd. All of the above www.brianddayday.blogspot.com
  10. 10. Question 3:Telephone Operators are examplesof what?a. Initiatorsb. Usersc. Influencersd. Gatekeeperse. Deciders www.brianddayday.blogspot.com
  11. 11. Concept: Roles in Business Buying Process Initiators • Those requesting the product Users • Those who will use the product or serviceInfluencers • Those who influence the buying decision • Those who decide on product reqs & Deciders suppliers Approvers • Those authorizing actions of buyers • Those who have authority to select Buyers supplier & arrange purchase terms • Those who prevent information fromGatekeepers reaching members of buying center www.brianddayday.blogspot.com
  12. 12. Concept Explanation: Roles in Business Buying Process Department in need Initiators Telephone Operator Department to use Gatekeepers Users Buying CenterPurchasing Dept. Technical Personnel Buyers Influencers Budget Committee Department Head Approvers Deciders www.brianddayday.blogspot.com
  13. 13. Answer 3:Telephone Operators are examplesof what?a. Initiatorsb. Usersc. Influencersd. Gatekeeperse. Deciders www.brianddayday.blogspot.com
  14. 14. Question 4:Which of the ff. is true aboutbuying center targeting?a. Business marketers need to figure out who are the major decision participants.b. Business marketers need to consider what decisions do they influence.c. Business marketers need to determine the evaluation criteria to use for the decision.d. All of the above. www.brianddayday.blogspot.com
  15. 15. Concept:To target their efforts properly,business marketers must figure out: Who are the major decision participants? What decisions do they influence? What is their level of influence? What evaluation criteria do they use? www.brianddayday.blogspot.com
  16. 16. Concept Explanation: Buying Center Targeting SituationA company sells disposable Who are the majorsurgical gowns to hospitals. Decision participants?The hospital personnel whoparticipate in this buyingdecision is the VP purchasing, What decisions do theyOperating roomadministrator, and the influence?Surgeons. The VP analyseswhether the hospital shouldbuy disposable gowns orreusable gowns. www.brianddayday.blogspot.com
  17. 17. Concept Explanation: Buying Center Targeting SituationIf the findings favour disposable What is the level ofgowns, then the operating- influence?room administrator comparesvarious competitors’products and prices and What evaluationmakes a choice. The Criteria did they use?administrator considersabsorbency, antisepticquality, design and cost. www.brianddayday.blogspot.com
  18. 18. Answer 4:Which of the ff. is true aboutbuying center targeting?a. Business marketers need to figure out who are the major decision participants.b. Business marketers need to consider what decisions do they influence.c. Business marketers need to determine the evaluation criteria to use for the decision.d. All of the above. www.brianddayday.blogspot.com
  19. 19. Question 5:All are stages in the BuyingProcess, except?a. Problem recognitionb. General need descriptionc. Product specificationd. Supplier solicitatione. Order-routine specification www.brianddayday.blogspot.com
  20. 20. Concept:Stages in Buying Process New Task Modified Straight Rebuy BuyProblem recognition MaybeGeneral need description MaybeProduct specificationSupplier search MaybeProposal solicitation MaybeSupplier selection MaybeOrder-routine specification MaybePerformance review www.brianddayday.blogspot.com
  21. 21. Concept Explanation:Stages in Buying Process Problem Supplier Order routine recognition selection specificationGeneral need Proposal Performance description solicitation review Product Supplier specification search www.brianddayday.blogspot.com
  22. 22. Answer 5:All are stages in the BuyingProcess, except?a. Problem recognitionb. General need descriptionc. Product specificationd. Supplier solicitatione. Order-routine specification www.brianddayday.blogspot.com
  23. 23. Question 6:Some companies handle price-orientedbuyers by, _______, _______, _______, and_________.a. Limiting quantity, allowing no refunds, making no adjustments, and providing no services.b. Allowing no refunds, making no adjustments, providing no services, and limiting quantity.c. Providing no services, limiting quantity, making no adjustments, and allowing no refunds.d. None of the above. www.brianddayday.blogspot.com
  24. 24. Concept Explanation:Overcoming Price Pressures1. Limit quantity purchased2. Allow no refunds3. Make no adjustments4. Provide no services www.brianddayday.blogspot.com
  25. 25. Answer 6:Some companies handle price-orientedbuyers by, _______, _______, _______, and_________.a. Limiting quantity, allowing no refunds, making no adjustments, and providing no services.b. Allowing no refunds, making no adjustments, providing no services, and limiting quantity.c. Providing no services, limiting quantity, making no adjustments, and allowing no refunds.d. None of the above. www.brianddayday.blogspot.com
  26. 26. Question 7:Ebay, Amazon, and Sulit.com areexamples of what?a. Catalog sitesb. Spot marketsc. Pure Play auction sitesd. Barter marketse. Buying alliances www.brianddayday.blogspot.com
  27. 27. Concept 7:Searching for Suppliers Catalog sites Vertical markets Pure play auction sites Spot markets Private exchanges Barter markets Buying alliances www.brianddayday.blogspot.com
  28. 28. Concept Explanation: Searching for Suppliers Catalog sites • Electronic catalogs • Ordering raw materials from specialized Vertical markets websites (Plastics.com)Pure play auction sites • Online marketplaces (Ebay, Amazon) • On spot electronic markets, prices change by Spot markets the minute • Private exchanges to link groups of suppliers Private exchanges over the web Barter markets • Participants offer to trade goods or service • Companies buying the same goods join Buying alliances together to form purchasing consortia www.brianddayday.blogspot.com
  29. 29. Answer 7:Ebay, Amazon, and Sulit.com areexamples of what?a. Catalog sitesb. Spot marketsc. Pure Play auction sitesd. Barter marketse. Buying alliances www.brianddayday.blogspot.com
  30. 30. Question 8:Which of the following is true?a. Direct survey; where customers are asked to place a direct dollar value on one or more changes in the market offeringb. Importance ratings; where customers rank their preferences for alternative market offerings or concepts.c. Conjoint analysis; where customers attack monetary value of 3 levels of a given attribute.d. None of the above www.brianddayday.blogspot.com
  31. 31. Concept: Researching Customer Value Check definitions in the Book p. 236 Internal engineering assessment Field value-in-use assessment Focus-group value assessment Direct survey questions Conjoint analysis Benchmarks Compositional approach Importance ratings www.brianddayday.blogspot.com
  32. 32. Answer 8:Which of the following is true?a. Direct survey; where customers are asked to place a direct dollar value on one or more changes in the market offeringb. Importance ratings; where customers rank their preferences for alternative market offerings or concepts.c. Conjoint analysis; where customers attack monetary value of 3 levels of a given attribute.d. None of the above www.brianddayday.blogspot.com
  33. 33. Question 9:All are factors of buyer-supplierrelationships, except?a. Importance of supplyb. Availability of alternativesc. Complexity of demandd. Supply market dynamisme. All of the above. www.brianddayday.blogspot.com
  34. 34. Concept Explanation: Buyer-supplier Relationship Factors Availability of alternatives Importance of supply Complexity of supply Supply market dynamism www.brianddayday.blogspot.com
  35. 35. Answer 9:All are factors of buyer-supplierrelationships, except?a. Importance of supplyb. Availability of alternativesc. Complexity of demandd. Supply market dynamisme. All of the above. www.brianddayday.blogspot.com
  36. 36. Question 10:Supplier adapting to consumerrequests w/o any demands in return,is an example of what category?a. Mutually adaptiveb. Cooperative systemsc. Customer is kingd. Bare bonese. None of the above www.brianddayday.blogspot.com
  37. 37. Concept: Buyer-seller Relationships Basic buying and selling – routine exchanges with moderate levels of cooperation and information exchange Bare bones – adaptation by the seller and less cooperation and information exchange. Contractual transaction – defined by a formal contract, with low levels of trust, and cooperation. Customer supply – competition rather than cooperation is the dominant form of governance. www.brianddayday.blogspot.com
  38. 38. Concept Explanation: Buyer-seller Relationships Cooperative systems – united in operational ways, but neither demonstrates commitment through legal means or adaptation. Collaborative – trust and commitment lead to true partnership. Mutually adaptive – make many relationship-specific adaptations, but w/o achieving trust and cooperation. Customer is king – seller adapts to meet the customer needs w/o expecting much adaptation or change in exchange. www.brianddayday.blogspot.com
  39. 39. Answer 10:Supplier adapting to consumerrequests w/o any demands in return,is an example of what category?a. Mutually adaptiveb. Cooperative systemsc. Customer is kingd. Bare bonese. None of the above www.brianddayday.blogspot.com
  40. 40. TOP 10 Learning Questions for Chapter 7: Analyzing Business Markets Briand Dayday September 16, 2011 www.brianddayday.blogspot.com

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