Exam (elaborations)
8.BUSML 3250 Exam 2 Questions with Latest Update
- Course
- Institution
8.BUSML 3250 Exam 2 Questions with Latest Update
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
