BUS 360 Exam 2 CH 7 || Already Passed.
________Blank reflects the link between consumers' demand for a company's product and the
company's purchase of necessary inputs to manufacture or assemble that particular product.
a. Institutional purchasing demand
b. distribution
c. derived demand
d. wholesaling
e. reselling demand correct answers c. derived demand
The demand for B2B sales is often derived from B2C sales in the same supply chain. Derived
demand reflects the link between consumers' demand for a company's output and the company's
purchase of necessary inputs to manufacture or assemble that particular output.
n B2B markets, ________Blank are firms that buy and reprocess products and services before
selling them again to the next buyer.
a. manufacturers
b. producers
c. resellers
d. institutions
e. governments correct answers a. manufacturers
Which intermediary is an example of a reseller?
a. manufacturer
b. producer
c. wholesaler
d. institution
e. government correct answers c. wholesaler
In terms of business markets, organizations like hospitals that provide services to people in their
care are classified as
a. manufacturers
b. producers
c. resellers
d. institutions
e. governments correct answers d. institutions
With its budget of over $700 billion, the Department of Defense represents which type of B2B
organization?
a. manufacturer
b. distributor
c. reseller
d. institution
e. government correct answers e. government
Which statement regarding the B2B buying process is true?
a. The B2B buying process is identical to the B2C buying process.
, b. The B2B buying process is less complex than the B2C buying process.
c. In the B2B buying process, decisions are made quickly and without much consideration.
d. In the B2B buying process, formal performance evaluations of the vendor generally do not
occur.
e. In the B2B buying process, the search for information and evaluation of alternatives is more
formal and structured. correct answers e. In the B2B buying process, the search for information
and evaluation of alternatives is more formal and structured.
What is the first step in the business-to-business buying process?
a. the RFP process
b. need recognition
c. proposal analysis
d. product specification
e. vendor performance assessment correct answers b. need recognition
The Performing Arts Studio has had the same sound system for the past 20 years. Concert-goers
have begun to complain that the music doesn't sound very good and that in some sections of the
theater you cannot hear anything. The owner of the PA Studio has decided it is time to replace
the old sound system. After recognizing this need, the owner should proceed to which step of the
B2B buying process?
a. vendor negotiation
b. order specification
c. product specification
d. RFP process
e. proposal analysis correct answers c. product specification
The acronym RFP, when used by those involved in business-to-business buying, stands for
a. request for pricing.
b. reorder for products.
c. request for products.
d. request for proposals.
e. request for performance. correct answers d. request for proposals.
In the B2B buying process, ________Blank can provide tremendous cost savings for firms
because they eliminate periodic negotiations and routine paperwork, and offer the means to form
a supply chain that can respond quickly to the buyer's needs.
a. buying centers
b. RFPs
c. microblogs
d. web portals
e. web links correct answers d. web portals
During which stage of the business-to-business buying process are firms likely to narrow their
selection to a few suppliers, often those with which they have existing relationships, and discuss
key terms of the sale.
a. the RFP process
________Blank reflects the link between consumers' demand for a company's product and the
company's purchase of necessary inputs to manufacture or assemble that particular product.
a. Institutional purchasing demand
b. distribution
c. derived demand
d. wholesaling
e. reselling demand correct answers c. derived demand
The demand for B2B sales is often derived from B2C sales in the same supply chain. Derived
demand reflects the link between consumers' demand for a company's output and the company's
purchase of necessary inputs to manufacture or assemble that particular output.
n B2B markets, ________Blank are firms that buy and reprocess products and services before
selling them again to the next buyer.
a. manufacturers
b. producers
c. resellers
d. institutions
e. governments correct answers a. manufacturers
Which intermediary is an example of a reseller?
a. manufacturer
b. producer
c. wholesaler
d. institution
e. government correct answers c. wholesaler
In terms of business markets, organizations like hospitals that provide services to people in their
care are classified as
a. manufacturers
b. producers
c. resellers
d. institutions
e. governments correct answers d. institutions
With its budget of over $700 billion, the Department of Defense represents which type of B2B
organization?
a. manufacturer
b. distributor
c. reseller
d. institution
e. government correct answers e. government
Which statement regarding the B2B buying process is true?
a. The B2B buying process is identical to the B2C buying process.
, b. The B2B buying process is less complex than the B2C buying process.
c. In the B2B buying process, decisions are made quickly and without much consideration.
d. In the B2B buying process, formal performance evaluations of the vendor generally do not
occur.
e. In the B2B buying process, the search for information and evaluation of alternatives is more
formal and structured. correct answers e. In the B2B buying process, the search for information
and evaluation of alternatives is more formal and structured.
What is the first step in the business-to-business buying process?
a. the RFP process
b. need recognition
c. proposal analysis
d. product specification
e. vendor performance assessment correct answers b. need recognition
The Performing Arts Studio has had the same sound system for the past 20 years. Concert-goers
have begun to complain that the music doesn't sound very good and that in some sections of the
theater you cannot hear anything. The owner of the PA Studio has decided it is time to replace
the old sound system. After recognizing this need, the owner should proceed to which step of the
B2B buying process?
a. vendor negotiation
b. order specification
c. product specification
d. RFP process
e. proposal analysis correct answers c. product specification
The acronym RFP, when used by those involved in business-to-business buying, stands for
a. request for pricing.
b. reorder for products.
c. request for products.
d. request for proposals.
e. request for performance. correct answers d. request for proposals.
In the B2B buying process, ________Blank can provide tremendous cost savings for firms
because they eliminate periodic negotiations and routine paperwork, and offer the means to form
a supply chain that can respond quickly to the buyer's needs.
a. buying centers
b. RFPs
c. microblogs
d. web portals
e. web links correct answers d. web portals
During which stage of the business-to-business buying process are firms likely to narrow their
selection to a few suppliers, often those with which they have existing relationships, and discuss
key terms of the sale.
a. the RFP process
