Topic 3: Understanding Buyers Flashcards

1
Q

categories of buyers (2)

A
  1. consumer markets

2. business markets (firms, institutions, governments)

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2
Q

distinguishing characteristics of business markets (6)

A
  1. concentrated demand
  2. derived demand
  3. higher levels of demand fluctuation
  4. purchasing professionals
  5. multiple buying influences
  6. closer buyer-seller relationships
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3
Q

buying decision process (7)

A
  1. Recognition of a Need 2.Description of Desired Characteristics
  2. Determination of Desired Characteristics
  3. Search for Qualified Sources
  4. Acquisition and analysis of proposals
  5. Evaluation and Selection
  6. Performance feedback and evaluation
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4
Q

needs gap

A

between the desire state and actual state

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5
Q

types of buyer needs (5)

A
  1. situational needs
  2. functional needs
  3. social needs
  4. psychological needs
  5. knowledge needs
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6
Q

procedures for evaluating suppliers and products (3)

A
  1. descriptive rating
  2. performance score rating
  3. multi-attribute model
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7
Q

buyer evaluation procedures

A
  • modify the product offering being proposed
  • alter the buyer’s beliefs about the proposed offering
  • alter the buyer’s beliefs about the competitors offering
  • alter the importance weights
  • call attention to neglected attributes
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8
Q

two factor model of buyer evaluation

A
  1. functional attributes

2. psychological attributes

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9
Q

types of purchasing decisions

A
  1. straight rebuy
  2. modified rebuy
  3. new task
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10
Q

communication styles (4)

A
  1. low assertiveness
  2. los responsiveness
  3. high assertiveness
  4. high responsiveness
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11
Q

low assertiveness

A

team player
easygoing
avoids risk
cooperate

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12
Q

low responsiveness

A

task-oriented

formal

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13
Q

high assertiveness

A

fast paced
competitive
confrontational

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14
Q

high responsiveness

A

relationship-oriented
emotional
informal

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15
Q

communication style flexing

A

the process by which the salesperson adjusts his/her communication style to fit that of the customers in order to facility effective communciation

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16
Q

buying teams (6)

A
  1. initiators
  2. influencers
  3. users
  4. deciders
  5. purchasers
  6. gatekeepers