Chapter 8

Question 1

Categories of differences between business and consumer markets

Answer 1

Relationship w/ customers, Number & size of customers, geographic concentration, complexity of buying process, complexity of supply chain

Question 2

Relationship w/ customers

Answer 2

B2B: Personal, relational.
Consumer: Impersonal, electronic communication

Question 3

Number and Size of Customers

Answer 3

B2B: Few, but larger
Consumer: More, but buy in smaller less frequent quantities

Question 4

Complexity of buying Process

Answer 4

B2B: Complex, involve more people
Consumer: Fewer involved, based on personal and psychological benefits

Question 5

Complexity of Supply Chain

Answer 5

B2B: Direct from supplier to manufacturer
Consumer: Complex, movement through channels

Question 6

Demand for Products

Answer 6

B2B: Derived from consumer demand (more inelastic)
Consumer: Perceptions about their needs, marketing stimuli, more elastic

Question 7

Acceleration Effect

Answer 7

Small changes in consumer demand can be a major issue for suppliers

Question 8

Buying Center

Answer 8

A number of individuals with a stake in the purchase decision who have come together to manage the decision process

Question 9

Buying Centers consist of…

Answer 9

Initiator, Influencer, Gatekeeper, Decider, Users

Question 10

Steps in the B2B Decision Process

Answer 10

1. Problem recognition
2. Define need & product specifications
3. Search for suppliers
4. Seek sales proposals
5. Making the purchase decision
6. Post-purchase evaluation of product and vendor