Chap 7 analyzing business markets dayday

TOP 10 Learning Questions for

Chapter 7:
Analyzing Business Markets
Briand Dayday
September 16, 2011

www.brianddayday.blogspot.com

Question 1:
_______ consists of all the organizations
that acquire goods & services used in the
production of other products & services
that are sold, rented or supplied to others

a. Consumer markets
b. Business markets
c. Demand markets
d. Supplier markets


Concept:

What are Business Markets?
Process of Producing and Selling Shoes
 Each party in the supply chain also buys goods to
support their operations

Shoe
Leather Wholesalers Retailers Consumers
Manufacturers


Concept Explanation:

Definition of Business Markets

Business markets
consists of all the
organizations that acquire
goods and services used in
the production of other
products or services that
are sold, rented, or
supplied to others.


Answer 1:
_______ consists of all the organizations
that acquire goods & services used in the
production of other products & services
that are sold, rented or supplied to others

a. Consumer markets
b. Business markets
c. Demand markets
d. Supplier markets


Question 2:

A monthly set order of office
supplies is an example of what?

a. Straight rebuy
b. Modified rebuy
c. New task
d. All of the above


Concept:

Business Buying Situations

Purchase decisions are based on
these buying situations

Straight Modified New
Rebuy Rebuy Task



Business Buying Situations

Straight • Reorders supplies (office supplies, bulk
chemicals) at a routine basis and chooses
Rebuy from list of suppliers.

Modified • The buyer wants to modify product specs,
prices, delivery requirements from previous
Rebuy orders.

New Task • Purchaser buys a product for the first time.


Answer 2:

A monthly set order of office
supplies is an example of what?

a. Straight rebuy
b. Modified rebuy
c. New task
d. All of the above


Question 3:

Telephone Operators are examples
of what?

a. Initiators
b. Users
c. Influencers
d. Gatekeepers
e. Deciders


Concept:

Roles in Business Buying Process

Initiators • Those requesting the product

Users • Those who will use the product or service

Influencers • Those who influence the buying decision

• Those who decide on product reqs &
Deciders suppliers

Approvers • Those authorizing actions of buyers

• Those who have authority to select
Buyers supplier & arrange purchase terms
• Those who prevent information from
Gatekeepers reaching members of buying center


Roles in Business Buying Process
Department in need
Initiators
Telephone Operator Department to use

Gatekeepers Users

Buying Center
Purchasing Dept. Technical Personnel

Buyers Influencers

Budget Committee Department Head
Approvers Deciders


Answer 3:

Telephone Operators are examples
of what?

a. Initiators
b. Users
c. Influencers
d. Gatekeepers
e. Deciders


Question 4:

Which of the ff. is true about
buying center targeting?

a. Business marketers need to figure out who are
the major decision participants.
b. Business marketers need to consider what
decisions do they influence.
c. Business marketers need to determine the
evaluation criteria to use for the decision.
d. All of the above.


Concept:
To target their efforts properly,
business marketers must figure out:

 Who are the major decision participants?
 What decisions do they influence?
 What is their level of influence?
 What evaluation criteria do they use?


Buying Center Targeting Situation

A company sells disposable Who are the major
surgical gowns to hospitals. Decision participants?
The hospital personnel who
participate in this buying
decision is the VP purchasing,
What decisions do they
Operating room
administrator, and the influence?
Surgeons. The VP analyses
whether the hospital should
buy disposable gowns or
reusable gowns.


Buying Center Targeting Situation

If the findings favour disposable What is the level of
gowns, then the operating- influence?
room administrator compares
various competitors’
products and prices and What evaluation
makes a choice. The Criteria did they use?
administrator considers
absorbency, antiseptic
quality, design and cost.


Answer 4:

Which of the ff. is true about
buying center targeting?

a. Business marketers need to figure out who are
the major decision participants.
b. Business marketers need to consider what
decisions do they influence.
c. Business marketers need to determine the
evaluation criteria to use for the decision.
d. All of the above.


Question 5:

All are stages in the Buying
Process, except?

a. Problem recognition
b. General need description
c. Product specification
d. Supplier solicitation
e. Order-routine specification


Concept:

Stages in Buying Process

New Task Modified Straight
Rebuy Buy
Problem recognition Maybe
General need description Maybe
Product specification
Supplier search Maybe
Proposal solicitation Maybe
Supplier selection Maybe
Order-routine specification Maybe
Performance review



Stages in Buying Process

Problem Supplier Order routine
recognition selection specification

General need Proposal Performance
description solicitation review

Product Supplier
specification search


Answer 5:

All are stages in the Buying
Process, except?

a. Problem recognition
b. General need description
c. Product specification
d. Supplier solicitation
e. Order-routine specification


Question 6:
Some companies handle price-oriented
buyers by, _______, _______, _______, and
_________.

a. Limiting quantity, allowing no refunds, making
no adjustments, and providing no services.
b. Allowing no refunds, making no adjustments,
providing no services, and limiting quantity.
c. Providing no services, limiting quantity, making
no adjustments, and allowing no refunds.
d. None of the above.



Overcoming Price Pressures

1. Limit quantity purchased
2. Allow no refunds
3. Make no adjustments
4. Provide no services


Answer 6:
Some companies handle price-oriented
buyers by, _______, _______, _______, and
_________.

a. Limiting quantity, allowing no refunds,
making no adjustments, and providing no
services.
b. Allowing no refunds, making no adjustments,
providing no services, and limiting quantity.
c. Providing no services, limiting quantity, making
no adjustments, and allowing no refunds.
d. None of the above.


Question 7:

Ebay, Amazon, and Sulit.com are
examples of what?

a. Catalog sites
b. Spot markets
c. Pure Play auction sites
d. Barter markets
e. Buying alliances


Concept 7:

Searching for Suppliers

 Catalog sites
 Vertical markets
 Pure play auction sites
 Spot markets
 Private exchanges
 Barter markets
 Buying alliances



Searching for Suppliers

Catalog sites • Electronic catalogs

• Ordering raw materials from specialized
Vertical markets websites (Plastics.com)

Pure play auction sites • Online marketplaces (Ebay, Amazon)

• On spot electronic markets, prices change by
Spot markets the minute
• Private exchanges to link groups of suppliers
Private exchanges over the web

Barter markets • Participants offer to trade goods or service

• Companies buying the same goods join
Buying alliances together to form purchasing consortia

Answer 7:

Ebay, Amazon, and Sulit.com are
examples of what?

a. Catalog sites
b. Spot markets
c. Pure Play auction sites
d. Barter markets
e. Buying alliances


Question 8:

Which of the following is true?

a. Direct survey; where customers are asked to
place a direct dollar value on one or more
changes in the market offering
b. Importance ratings; where customers rank their
preferences for alternative market offerings or
concepts.
c. Conjoint analysis; where customers attack
monetary value of 3 levels of a given attribute.
d. None of the above


Concept:

Researching Customer Value
Check definitions in the
Book p. 236
 Internal engineering assessment
 Field value-in-use assessment
 Focus-group value assessment
 Direct survey questions
 Conjoint analysis
 Benchmarks
 Compositional approach
 Importance ratings

Answer 8:

Which of the following is true?

a. Direct survey; where customers are asked to
place a direct dollar value on one or more
changes in the market offering
b. Importance ratings; where customers rank their
preferences for alternative market offerings or
concepts.
c. Conjoint analysis; where customers attack
monetary value of 3 levels of a given attribute.
d. None of the above


Question 9:

All are factors of buyer-supplier
relationships, except?

a. Importance of supply
b. Availability of alternatives
c. Complexity of demand
d. Supply market dynamism
e. All of the above.



Buyer-supplier Relationship
Factors

 Availability of alternatives
 Importance of supply
 Complexity of supply
 Supply market dynamism


Answer 9:

All are factors of buyer-supplier
relationships, except?

a. Importance of supply
b. Availability of alternatives
c. Complexity of demand
d. Supply market dynamism
e. All of the above.


Question 10:
Supplier adapting to consumer
requests w/o any demands in return,
is an example of what category?

a. Mutually adaptive
b. Cooperative systems
c. Customer is king
d. Bare bones
e. None of the above


Concept:

Buyer-seller Relationships

 Basic buying and selling – routine exchanges with
moderate levels of cooperation and information
exchange
 Bare bones – adaptation by the seller and less
cooperation and information exchange.
 Contractual transaction – defined by a formal
contract, with low levels of trust, and cooperation.
 Customer supply – competition rather than
cooperation is the dominant form of governance.



Buyer-seller Relationships

 Cooperative systems – united in operational ways,
but neither demonstrates commitment through legal
means or adaptation.
 Collaborative – trust and commitment lead to true
partnership.
 Mutually adaptive – make many relationship-specific
adaptations, but w/o achieving trust and cooperation.
 Customer is king – seller adapts to meet the
customer needs w/o expecting much adaptation or
change in exchange.


Answer 10:
Supplier adapting to consumer
requests w/o any demands in return,
is an example of what category?

a. Mutually adaptive
b. Cooperative systems
c. Customer is king
d. Bare bones
e. None of the above


Chap 7 analyzing business markets dayday

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