Markma 10 questions

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Markma 10 questions

  1. 1. 10 Questions for learning (Analyzing Business Markets: Chapter 7) Leeyhan Frank B. Dizon September 3, 2010
  2. 2. 1. ______ decision-making process by which formal organizations establish the need to purchase products and services <ul><li>Organizational Buying </li></ul><ul><li>Straight Rebuy </li></ul><ul><li>Market Buying </li></ul><ul><li>Outsourcing </li></ul><ul><li>Direct Purchasing </li></ul>
  3. 3. Concept: <ul><li>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. </li></ul>
  4. 4. 1. ______ decision-making process by which formal organizations establish the need to purchase products and services <ul><li>Organizational Buying </li></ul><ul><li>Straight Rebuy </li></ul><ul><li>Market Buying </li></ul><ul><li>Outsourcing </li></ul><ul><li>Direct Purchasing </li></ul>
  5. 5. 2. All are characteristics of Business Markets except <ul><li>Fewer, Larger Buyers </li></ul><ul><li>Direct and Indirect Purchasing System </li></ul><ul><li>Inelastic Demand </li></ul><ul><li>Fluctuating Demand </li></ul><ul><li>Close supplier-customer relationships </li></ul>
  6. 6. Concept: Characterisitcs of Business Markets <ul><li>Fewer Larger Buyers </li></ul><ul><li>Close supplier-customer relationship </li></ul><ul><li>Professional Purchasing </li></ul><ul><li>Many Buying influences </li></ul><ul><li>Multiple Sales calls </li></ul><ul><li>Derived Demand </li></ul><ul><li>Inelastic Demand </li></ul><ul><li>Fluctuating Demand </li></ul><ul><li>Geographically Concentrated Buyers </li></ul><ul><li>Direct Purchasing </li></ul>
  7. 7. 2. All are characteristics of Business Markets except <ul><li>Fewer, Larger Buyers </li></ul><ul><li>Direct and Indirect Purchasing System </li></ul><ul><li>Inelastic Demand </li></ul><ul><li>Fluctuating Demand </li></ul><ul><li>Close supplier-customer relationships </li></ul>
  8. 8. 3. The three types of buying situations are: straight rebuy, modified rebuy and ________ <ul><li>Original Task </li></ul><ul><li>Common Task </li></ul><ul><li>New Task </li></ul><ul><li>Buying Task </li></ul><ul><li>Purpose Task </li></ul>
  9. 9. Concept: <ul><li>Three types of buying situations are the (1) straight rebuy, (2) modified rebuy and (3) new task. </li></ul>Straight Rebuy Modified Rebuy New Task
  10. 10. 3. The three types of buying situations are: straight rebuy, modified rebuy and ________ <ul><li>Original Task </li></ul><ul><li>Common Task </li></ul><ul><li>New Task </li></ul><ul><li>Buying Task </li></ul><ul><li>Purpose Task </li></ul>
  11. 11. 4. Which of the following is true? <ul><li>A. Business Markets have less geographically concentrated buyers. </li></ul><ul><li>B. Suppliers must be prepared to adapt their offers to the special needs and procedures </li></ul><ul><li>C. business suppliers and customers are focusing on one way to manage their business relationships. </li></ul><ul><li>D. Inelastic demand is one of the characteristics of a service market. </li></ul><ul><li>E. Purchasing departments were perceived to occupy a high position in the management hierarchy. </li></ul>
  12. 12. Concept: <ul><li>Institutional & Government Markets consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care. </li></ul><ul><li>Buyers for government organizations tend to require a great deal of paperwork from their vendors and to favor open bidding and domestic companies. </li></ul><ul><li>Suppliers must be prepared to adapt their offers to the special needs and procedures found in institutional and government markets. </li></ul>
  13. 13. 4. Which of the following is true? <ul><li>A. Business Markets have less geographically concentrated buyers. </li></ul><ul><li>B. Suppliers must be prepared to adapt their offers to the special needs and procedures which are found in institutional and government markets. </li></ul><ul><li>C. To improve effectiveness and efficiency, business suppliers and customers are focusing on one way to manage their business relationships. </li></ul><ul><li>D. Inelastic demand is one of the characteristics of a service market. </li></ul><ul><li>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. </li></ul>
  14. 14. 5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care. <ul><li>Organizational Markets </li></ul><ul><li>Public and Private Instituitions </li></ul><ul><li>Service Markets </li></ul><ul><li>Suppliers and Consumers </li></ul><ul><li>Instituitional and Government Markets </li></ul>
  15. 15. Concept: <ul><li>Institutional & Government Markets consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care. </li></ul>
  16. 16. 5. __________________consist of schools, hospitals, nursing homes, prisons and other institutions that provide goods and services to people in their care. <ul><li>Organizational Markets </li></ul><ul><li>Public and Private Instituitions </li></ul><ul><li>Service Markets </li></ul><ul><li>Suppliers and Consumers </li></ul><ul><li>Instituitional and Government Markets </li></ul>
  17. 17. 6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it is an example of: <ul><li>Systems Buying </li></ul><ul><li>Merging </li></ul><ul><li>Total Quality Management </li></ul><ul><li>Outsourcing </li></ul><ul><li>Straight Rebuy </li></ul>
  18. 18. Concept: <ul><li>Many business buyers prefer to buy a total solution to a problem from one seller. This is called systems buying. </li></ul>Turn-Key Solution Desired: Bids Solicited Prime Contractors Second-tier contractors System Subcomponent Assembled
  19. 19. 6. When Whirlpool acquired the services of IBM to facilitate faster and more efficient inventory management, it is an example of: <ul><li>Systems Buying </li></ul><ul><li>Merging </li></ul><ul><li>Total Quality Management </li></ul><ul><li>Outsourcing </li></ul><ul><li>Straight Rebuy </li></ul>
  20. 20. 7. The first stage in the buying process is usually called: <ul><li>Observation of current market </li></ul><ul><li>General Description of the need </li></ul><ul><li>Product and Supplier Specification </li></ul><ul><li>Problem recognition </li></ul><ul><li>Probing and Identifying the need. </li></ul>
  21. 21. Concept: <ul><li>Stages in the buying process include: </li></ul><ul><li>problem recognition </li></ul><ul><li>(2) general need description </li></ul><ul><li>(3) product specification </li></ul><ul><li>(4) supplier search </li></ul><ul><li>(5) proposal solicitation </li></ul><ul><li>(6) supplier selection </li></ul><ul><li>(7) order-routine specification </li></ul><ul><li>(8) performance review </li></ul>
  22. 22. 7. The first stage in the buying process is usually called: <ul><li>Observation of current market </li></ul><ul><li>General Description of the need </li></ul><ul><li>Product and Supplier Specification </li></ul><ul><li>Problem recognition </li></ul><ul><li>Probing and Identifying the need. </li></ul>
  23. 23. 8. Systems buying is defined as: <ul><li>Buyers improve the system by acquiring a new company with a better facility. </li></ul><ul><li>General merging of 2 partner companies for better system management. </li></ul><ul><li>Product and Supplier Relationship made better by new and advanced system </li></ul><ul><li>Outsourcing of new system from other parties. </li></ul><ul><li>Buyers prefer to buy a total solution to a problem from one seller </li></ul>
  24. 24. Concept: <ul><li>Many business buyers prefer to buy a total solution to a problem from one seller. This is called systems buying. </li></ul>Turn-Key Solution Desired: Bids Solicited Prime Contractors Second-tier contractors System Subcomponent Assembled
  25. 25. 8. Systems buying is defined as: <ul><li>Buyers improve the system by acquiring a new company with a better facility. </li></ul><ul><li>General merging of 2 partner companies for better system management. </li></ul><ul><li>Product and Supplier Relationship made better by new and advanced system </li></ul><ul><li>Outsourcing of new system from other parties. </li></ul><ul><li>Buyers prefer to buy a total solution to a problem from one seller </li></ul>
  26. 26. 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: <ul><li>Catalog Sites </li></ul><ul><li>Barter Markets </li></ul><ul><li>Vertical Markets </li></ul><ul><li>Spot Markets </li></ul><ul><li>Private Exchanges </li></ul>
  27. 27. Concept: Forms of Electronic Marketplaces <ul><li>Catalog Sites </li></ul><ul><li>Vertical Markets </li></ul><ul><li>Pure Play Auction Sites </li></ul><ul><li>Spot Markets </li></ul><ul><li>Private Exchanges </li></ul><ul><li>Barter Markets </li></ul><ul><li>Buying Alliances </li></ul><ul><li>SPOT MARKET </li></ul><ul><li>Cash market </li></ul><ul><li>where financial </li></ul><ul><li>instruments </li></ul><ul><li>are traded and </li></ul><ul><li>delivered </li></ul><ul><li>immediately </li></ul>
  28. 28. 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: <ul><li>Catalog Sites </li></ul><ul><li>Barter Markets </li></ul><ul><li>Vertical Markets </li></ul><ul><li>Spot Markets </li></ul><ul><li>Private Exchanges </li></ul>
  29. 29. 10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ? <ul><li>Stakeholders </li></ul><ul><li>Board of Officers </li></ul><ul><li>Gatekeepers </li></ul><ul><li>Suppliers </li></ul><ul><li>Evaluators </li></ul>
  30. 30. Concept: The Buying Center Initiators Users Influencers Deciders Approvers Buyers Gatekeepers
  31. 31. 10. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ? <ul><li>Stakeholders </li></ul><ul><li>Board of Officers </li></ul><ul><li>Gatekeepers </li></ul><ul><li>Suppliers </li></ul><ul><li>Evaluators </li></ul>
  32. 32. 10 Questions for learning (Analyzing Business Markets: Chapter 7) Leeyhan Frank B. Dizon September 3, 2010

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