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Exam 7: Analyzing Business Markets

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Question 71

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Which of the following is true about the buying center?

A) In a buying center,one person cannot play more than one role.
B) A typical buying center has a maximum of five or six members.
C) A buying center consists of only mid-level managers and below.
D) It is the decision-making unit of a buying organization.
E) Gatekeepers in a buying center are people who authorize the proposed actions of deciders or buyers.

F) B) and E)
G) A) and C)

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Question 72

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The relationship between a company and its office supplies vendor where competition rather than cooperation is the dominant form of governance is probably best described as ________.

A) basic buying and selling
B) contractual transaction
C) collaborative
D) customer supply
E) customer is king

F) A) and D)
G) B) and C)

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Question 73

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Researchers have found that buyer-supplier relationships differed according to four factors: availability of alternatives;importance of supply;complexity of supply;and supply market dynamism.Based on these four factors,they classified buyer-supplier relationships into eight different categories.What are those categories?

Sellers benefit from systems contracting through lower operating costs as a result of steady demand and reduced paperwork.

In the ________ method for assessing customer value,company engineers use laboratory tests to estimate the product's performance characteristics.However,this ignores the fact that in different applications,the product will have different economic value.

List the seven roles of people in a buying center.

In the purchasing decision process,the ________ are those who have the power to prevent sellers or information from reaching members of the buying center.

Sometimes a rise of only 10% in consumer demand can cause as much as a 200% rise in business demand for products for the next period.This is an example of ________.

As part of the buyer selection process,buying centers must decide how many suppliers to use.What might motivate a buyer to use multiple sources?

In most countries,________ are a major buyers of goods and services.They typically require suppliers to submit bids and normally they award the contract to the lowest bidder.

When purchasing disposable surgical gowns,Changi Hospital's vice president of purchasing analyzes whether the hospital should buy disposable gowns or reusable gowns.If the findings favor disposable gowns,then the operating-room administrator compares various competitors' products and prices and makes a choice.Surgeons influence the decision retroactively by reporting their satisfaction with the particular brand.In this situation,the operating-room administrator performs the role of the ________.

E-procurement Web sites are organized around two types of e-hubs.If you were in the advertising business and were seeking to take advantage of e-procurement,what type of e-hub should be constructed by your company?

The type of buyer-supplier relationship in which buyers and sellers make many relationship-specific adaptations,but without necessarily achieving strong trust or cooperation is termed as ________.

With reference to online buying,what are vertical markets? Give an example of a vertical market.

________ refers to the decision-making process by which formal organizations establish the need for purchased products and services and identify,evaluate,and choose among alternative brands and suppliers.

With respect to assessing customer value,in conjoint analysis customers are asked to rank their preference for alternative market offerings or concepts.

In the purchasing decision process,the major role of ________ is in selecting vendors and negotiating.

A ________ establishes a long-term relationship in which the supplier promises to resupply the buyer as needed,at agreed-upon prices,over a specified period of time.

In which of the following is a person performing the role of a gatekeeper?

The business buyer makes the fewest decisions in the straight rebuy situation and the most in the new-task situation.