product: Business to Business

Question 1

who are business to business products purchased by

Answer 1

individuals and organisations for use in the production of other products or for use in their daily business operations

Question 2

examples of business to business products

Answer 2

1. parts and materials
2. equipment
3. services and supplies

Question 3

parts and materials inclusions

Answer 3

1. raw materials

2. components

Question 4

raw materials

Answer 4

unprocessed natural materials that are used in the production process to form parrt of the business’s products

Question 5

components

Answer 5

processed ittems that form part of a business’s product

Question 6

equipment

Answer 6

business to obusiness products that are used in the production of the business’s products

Question 7

capital equipment

Answer 7

installations such as buildings and machinery

Question 8

accessory equipment

Answer 8

smaller items that support the production of a process but do not form part of the product

Question 9

services and supplies

Answer 9

business to business products that are essential to operations but do not directly form part of the production process

Question 10

services and supplies examples

Answer 10

1. business services

2. maintnence

Question 11

business services

Answer 11

speciialised services which support the company’s operations

Question 12

product life cycle stages

Answer 12

1. new product development
2. introduction
3. grwoth
4. maturity
5. decline

Question 13

when does new product development occur

Answer 13

when the organisatitoon develps the idea, does research, and prepares prototypes to ttest the product

Question 14

new product development stages

Answer 14

1. idea generation
2. screening
3. concept evaluattion
4. marketitng strategy
5. business analysis
6. product development
7. test marketing
8. commercialisation

Question 15

idea generation

Answer 15

when ideas for new products are generated

Question 16

screening

Answer 16

when organisation undertakes a process to eliminate ideas that are not feasible

Question 17

what does screening involve

Answer 17

analysing the organisations ability to produce the product, the target markets interest, the market size, product cost and breka even point

Question 18

concept evaluation

Answer 18

when ideas are developed into a product concept that customers, managers and stakeholders can evaluate

Question 19

marketing strategy process

Answer 19

when management descrribes the projected sales, market positioning, potential markweting

Question 20

product adaption process

Answer 20

the sequential process of awareness, interest,k evaluation, trial and adoption tthrough which a consumer decides to puchase a new product

Question 21

catagories of product adaptors

Answer 21

1. innovators
2. early adoptors
3. early majority
4. late majority
5. laggards

Question 22

innovators

Answer 22

first adopters of new products and are adventurous and willing to take rrisks

Question 23

early adopters

Answer 23

likely to carefully choose new products and are opinion leaders

Question 24

early majority

Answer 24

moore deliveratte in thteir choice of a new product and avoid taking risks

Question 25

late majority

Answer 25

more cautious about new productts but will eventually adopt the new product after most people hav e due to economic necessity

Question 26

laggards

Answer 26

last adopters and are weary of new products

Question 27

when do innovators buy products

Answer 27

in the introduction stage

Question 28

when do early adopters buy product

Answer 28

inbetween the introduction and growth ohase

Question 29

when do the early majority buy new products

Answer 29

in between the growth and maturity phase

Question 30

when do the late majority buy new products

Answer 30

After the maturity phase

Question 31

when do laggards buy the products

Answer 31

at the decline phase