chapter 4

Question 1

B2B

Answer 1

Business-to-Business

Question 2

Top Five Corporations Worldwide

Answer 2

Walmart Stores, Berkshire Hathaway, Apple, Exxon Mobil, McKesson

Question 3

decider

Answer 3

The person who makes the final purchasing decision.

Question 4

gatekeepers

Answer 4

People who decide if and when a salesperson gets access to members of the buying center.

Question 5

Influencers

Answer 5

People who may or may not use the product but actively participate in the purchasing process in order to secure a decision they consider favorable.

Question 6

RFP

Answer 6

Request for Proposal

Question 7

who writes RFP?

Answer 7

Qualified suppliers

Question 8

RFP Purpose?

Answer 8

an invitation to submit a bid to supply the good or service. - outlines what the vendor is able to offer in terms of its product.

Question 9

Stages of buying process

Answer 9

1) A need is recognized - 2) The need is described and quantified - 3) search for suppliers - 4) Complete RFPs - 5) proposals are evaluated & selected- 6) order routine - 7) postpurchase evaluation

Question 10

Duties of Professional Buyers

Answer 10

-Considering the availability of products, - Studying a company’s sales records and inventory - Identifying suppliers and obtaining bids - Negotiating prices, delivery dates, and payment terms - Keeping abreast of changes - Staying informed of the latest trends - Determining the ad media - Track ads

Question 11

Who do businesses want to do business with?

Answer 11

firms - suppliers