Exam (elaborations)
7.BUSML 3250-CHAPTER 6 Exam Questions and Answers
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7.BUSML 3250-CHAPTER 6 Exam Questions and Answers
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7.BUSML 3250-CHAPTER 6 ExamQuestions and Answers
Objective 6-1 - Answer-Business Markets
Business Markets - Answer-This is where businesses buy goods and services
Business Buying Behavior - Answer-The buying behavior of organizations that buy
goods and services for use in producing other products and services that are sold,
rented, or supplied to others.
Business Buying Process - Answer-The process by which business buyers determine
which products and services their organizations need to purchase and then find,
evaluate, and choose among alternative suppliers and brands
Market Demand and Structure - Answer--less buyers but larger buyers
-inelastic demand
-derived demand
Derived Demand - Answer-Business demand that ultimately comes from (derives from)
the demand for consumer goods.
Nature of Buying - Answer--More decision participants
-More professional effort.
-They professional buyers spend their whole life learning how to buy better.
Types of Decisions and the Decision Process - Answer-• Usually involves large sums of
money
• More technical information
• More people in company involved
Supplier Development - Answer-The 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
Objective 6-2 - Answer-Business Buyer Behavior
Straight rebuy - Answer-A business buying situation in which the buyer routinely
reorders something without any modifications
Modified rebuy - Answer-A business buying situation in which the buyer wants to modify
product specifications, prices, terms, or suppliers
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