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8.BUSML 3250 Exam 2 Questions with Latest Update
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8.BUSML 3250 Exam 2 Questions with Latest Update
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8.BUSML 3250 Exam 2 Questions withLatest Update
pure tangible good - Answer-any product that can be offered to the market for
acquisition or consumption that does not include a service
pure service - Answer-only a service no product to sell
service - Answer-nontangible product, where a benefit, activity, or satisfaction is offered
business buyer behavior - Answer-buying behavior of organizations
business buying process - Answer-decision process which business buyers determine
what product/service to buy
derived demand - Answer-business demand that ultimately comes from demand for
consumer goods
supplier development - Answer-development of networks of suppliers to ensure
dependable supply of products for making products to sell to consumers
straight rebuy - Answer-business buying stituation where the buyer routinely reorders
something without any modifications
modified rebuy - Answer-buyer wants to modify product specifications, prices, terms, or
suppliers
New task - Answer-buyer purchases a product or service for the first time
Systems selling (or solutions selling) - Answer-buying a packaged solution from a single
seller
buying center - Answer-all individuals and units that play a role in decision making
process of purchase
users - Answer-members of the buying company who will actually use the product
influencers - Answer-people in the organization's buying center who affect the buying
decision
buyers - Answer-people making the actual purchase
deciders - Answer-people in the buying center that have the formal or informal power to
select or approve the final suppliers
, gatekeepers - Answer-people in an organization's buying center who control the flow of
information to others
Problem recognition - Answer-stage in business buying process which a company
recognizes a problem that needs to be met by aquiring a good or service
general need description - Answer-stage is bbp which a buyer describes the
characteristics and quantity of what is needed
product specification - Answer-stage of bbp which buying organization decides on and
specifies the best technical product characteristic for a needed item
Supplier search - Answer-stage of bbp which the buyer tries to find the best vendors
Proposal solicitation - Answer-stage of bbp which buyer invites qualified suppliers to
submit proposals
supplier selection - Answer-Stage of business buying process which the buyer reviews
proposals and selects a supplier
order-routine specification - Answer-stage of bbp which buyer writes final order to
supplier
performance review - Answer-stage of bbp which buyer assess the performance of the
supplier and decides to continue, modify, or drop the arrangement
E-procurement - Answer-purchasing through electronic connections, gives buyers
access to new suppliers, lower costs, and sped up processing and delivering
institutional market - Answer-schools, hosptials, nursing homes, prison, and other
institutions, provide services to people in their care
government market - Answer-government units that purchase/rent goods or services for
carrying out main functions of government
market segmentation - Answer-dividing a marketing into smaller segments of buyers
with distinct needs, characteristics, or behaviors
market targeting - Answer-evaluating each market segment's attractiveness and
selecting one or more segment to enter
Differentiation - Answer-differentiating the market offering to create superior customer
value
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