Chapter 3 Organizational Buying and Buyer Behavior

Question 0

The individuals and organizations that have an interest in the company, its operations, and its performance

Answer 0

Stakeholders

Question 1

A collection of individuals with a stake in the buying decisions

Answer 1

Buying center

Question 2

Product ____ serves as an internal brand much the same way that national consumer brand reassures buyers about quity, function, nd value in the consumer market.

Answer 2

Specification

Question 3

Situations in which the buying center determines that the problem or solution is somewhat similar to past problems or solutions

Answer 3

Modified rebuy

Question 4

Involves abbreviated steps, fewer people in the buying center, and less time to completion

Answer 4

Straight rebuy

Question 5

The buying decision process tends to be more rigorous and time consuming

Answer 5

New Task

Question 6

What are the four process flow stages in the buying decision process?

Answer 6

Definition
Selection stage
Deliver solution stage
Endgame stage

Question 7

What steps in the buying decision process are included in the definition stage?

Answer 7

problem recognition
general need description
product specification

Question 8

What steps of the buying decision process are included in the selection stage of the process flow model?

Answer 8

Solution provider search

Acquire solution provider(s)

Question 9

What steps of the buying decision process are included in the deliver solution stage of the process flow model?

Answer 9

Customize as needed

Install/test/train

Question 10

What steps of the buying decision process are included in the endgame stage of the process flow model?

Answer 10

Operate solution
Reach end result
Evaluate outcomes
Determine next set of needs

Question 11

What are the three types of needs present in the buying decision process?

Answer 11

organization’s needs, buying center individual’s needs stemming from their role in the buying center, and buying center member’s personal needs

Question 12

common practice of asking for suppliers to quote a piece of business

Answer 12

Request for quotation

Question 13

the total of all impressions that a customer has of the firm

Answer 13

value image

Question 14

What determines the needs of the organization?

Answer 14

The organization’s customer needs

Question 15

How do buyers protect themselves from single-source and inflexible price situations

Answer 15

By seeking alternate and additional suppliers

Question 16

Business markets are often oligopolies: T or F

Answer 16

T

Question 17

What activities are included in the solution stage of the process flow model?

Answer 17

Customization, testing of early versions, delivery of prototypes, and incorporation into manufacturing trials, installation and testing of the full-scale solution, training of the buyer’s employees, and resolution of supply chain issues

Question 18

Building relationships helps to address which needs?

Answer 18

Personal and role related needs

Question 19

A requirement for a quick decision tends to do what?

Answer 19

Work against rigor and care and tends to reduce scope of investigation

Question 20

Complexity in the buying process tends to do what?

Answer 20

Complexity tends to lengthen the process

Question 21

Importance and risk aversion tend to do what in the buying process?

Answer 21

It tends to make them proceed with more vigor and care while also involving people higher in the organizational hierarchy

Question 22

What influences the decision making of individuals in the buying center?

Answer 22

Culture of the firm
Risk aversion present in the culture
Reward system in place
Amount of vertical and horizontal management involvement

Question 23

What determines the attitude toward projects in an organization?

Answer 23

The mission, goals, and objectives of the organization

Question 24

Do individuals in the organization react to situations in the buying center with the same beliefs as in their private lives?

Answer 24

Yes

Question 25

How do business marketers create customer loyalty?

Answer 25

1. Long term contracts
2. Financial and emotional investment by both the selling organization and the buying organization in the success of the effort
3. Organizational relationships are built on commitment, personal relationships are built on trust

Question 26

What model states that the decision makers do not know all possible outcomes or payoffs and have limited motivation to search for additional alternatives, opting for the first alternative that meets minimum standards of performance.

Answer 26

Bounded rationality

Question 27

Who forms the value image of a business marketer’s offering?

Answer 27

The customer