6

Question 1

differences between business buying behaviour and consumer buying behaviour

Answer 1

-more complex longer and formalized buying process
-sellers and buyers are more dependant on each other
-structure and demand, the nature of the buying units
-fewer but larger buyers
-derived demand of consumer demand of goods.

Question 2

supplier development

Answer 2

Systematic development of networks
of supplier-partners to ensure an
appropriate and dependable supply of
products and materials for use in making
products or reselling them to others

Question 3

three major types of buying situations

Answer 3

straight rebuy
modified rebuy
new task

Question 4

straight rebuy

Answer 4

A business buying situation in which
the buyer routinely reorders something
without modifications

Question 5

modified rebuy

Answer 5

A business buying situation in which
the buyer wants to modify product
specifications, prices, terms, or suppliers.

Question 6

new task

Answer 6

A business buying situation in which the
buyer purchases a product or service for
the first time.

Question 7

system selling or solutions selling

Answer 7

Buying a packaged solution to a problem
from a single seller, thus avoiding all the
separate decisions involved in a complex
buying situation.

Question 8

Discuss how online, mobile, and
social media have changed business-to-business
marketing.

Answer 8

Rapid advances in information and digital technology have given
birth to “e-procurement,” by which business buyers are purchasing
all kinds of products and services online. The internet gives business buyers access to new suppliers, lowers purchasing costs,
and hastens order processing and delivery. Today’s business marketers also connect extensively with customers online and through
digital, mobile, and social media to engage customers, share marketing information, sell products and services, provide customer
support services, and maintain ongoing customer relationships.

Question 9

Define the business market and explain
how business markets differ from consumer markets

Answer 9

The business market comprises all organizations that buy goods
and services for use in the production of other products and services or for the purpose of reselling or renting them to others at
a profit. As compared to consumer markets, business markets
usually have fewer but larger buyers. Business demand is derived demand, which tends to be more inelastic and fluctuating
than consumer demand. The business buying decision usually
involves more, and more professional, buyers. Business buyers usually face more complex buying decisions, and the buying
process tends to be more formalized. Finally, business buyers
and sellers are often more dependent on each other

Question 10

identify the major factors that influence
business buyer behavio

Answer 10

Business buyers make decisions that vary with the three types of
buying situations: straight rebuys, modified rebuys, and new tasks.
The decision-making unit of a buying organization—the buying center—can consist of many different persons playing many different roles. The business marketer needs to know the following:
Who are the major buying center participants? In what decisions do they exercise influence and to what degree? What evaluation criteria does each decision participant use? The business marketer also needs to understand the major environmental, organizational,
interpersonal, and individual influences on the buying process.