Deck 7 - Lecture 7 done

Question 1

what does B2B mean

Answer 1

business to business

Question 2

what does B2B entail

Answer 2

purchase products to meet specific business needs, emphasise economic benefits

Question 3

what are consumer markets

Answer 3

purchase products to meet individual or family needs, emphasise psychological benefits, buy on impulse

Question 4

characteristics of business markets

Answer 4

geographically concentrated (more so in the past),
derived demand,
more buyers,
a more professional purchasing effort

Question 5

what are the different types of business customers

Answer 5

distributors,
original equipment manufacturers (OEMs),
users,
retailers with intermediaries with different roles

Question 6

example of OEMs (original equipment manufacturers)

Answer 6

michelin tyre on ford focus

Question 7

what are users (different types of business customers)

Answer 7

not part of final product but used in process (vending machine in factory)

Question 8

example of users (different types of business customers)

Answer 8

vending machine in factory

Question 9

classifying business customers

Answer 9

government, institutions

Question 10

what are institutions

Answer 10

non-for-profit organisations, community based organisations

Question 11

what can government be split up into

Answer 11

national government,
regional government,
local government

Question 12

what is something that defence spending includes which you wouldn’t normally think of

Answer 12

socks for soldiers or the food they eat

Question 13

who is part of the decision making unit *

Answer 13

initiators,
gatekeepers,
buyers,
deciders,
users,
influencers

Question 14

what is gatekeepers (decision making unit)

Answer 14

control the flow of knowledge

Question 15

who are initiators (decision making unit)

Answer 15

individuals who first recognise the problem

Question 16

who are buyers (decision making unit)

Answer 16

individual given the task of sourcing suppliers and negotiating final deal

Question 17

who are deciders (decision making unit)

Answer 17

people who make final decision

Question 18

who are users (decision making unit)

Answer 18

people using the products which are supplied

Question 19

who are influencers (decision making unit)

Answer 19

trusted advisors (could be absolutely anyone such as family/friends)

Question 20

who does the influencer influence (decision making unit)

Answer 20

the decider

Question 21

are buyers risk averse or risk loving

Answer 21

risk averse

Question 22

what are the three different types of buying situation

Answer 22

straight rebuy,
modified rebuy,
new task

Question 23

what is an example of a straight rebuy

Answer 23

office supplies

Question 24

what is an example of a modified rebuy

Answer 24

consulting services, personal computers

Question 25

what is an example of a new task

Answer 25

custom-built offices

Question 26

what are the influences shaping organisational buying behaviour

Answer 26

internal, external (PEST), individual, relationship forces

Question 27

what are internal influences shaping organisational buying behaviour

Answer 27

purchasing structure (integrated vs decentralised)

Question 28

what is the organisational buying process

Answer 28

problem recognition -> general need description -> product specification -> supplier search -> proposal solicitation -> supplier selection -> order-routine specification -> performance review