Chapter 7 Study Questions.docx Chapter 7 Study Questions: 1.Identify and describe the four major characteristics of the B2B market. How do these characteristics differ from the B2C market? “B2B†stands for “b
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Chapter 7 Study Questions.docx Chapter 7 Study Questions: 1.Identify and describe the four major characteristics of the B2B market. How do these characteristics differ from the B2C market? “B2B†stands for “business to business,†while “B2C†means “business to consumer.†B2B businesses sell products and services directly to other businesses. B2C businesses sell products and services to customers for personal use. This can include cruises, clothing, cars, landscaping services and so much more. 2.Identify and describe the three major factors that influence purchase decisions in the B2B market. Imagine you are a medical supplies wholesaler. How might these factors influence your purchase decisions? Environmental- economic, political, regulatory, competitive, and technological considerations influence business buying decisions Organizational- marketers must understand their customers organizational structures, policies, and purchasing systems. Interpersonal- individuals and committees influence B2B buying decisions, marketers must know the influences and understand their priorities, sales personnel must have a good technical understanding of their products. 3.Identify the steps in the organizational buying process. Why are there more steps than the consumer buying process? 1.Recognize problem and general solution 2.Determine characteristics and quantity 3.Describe characteristics and quantity 4.Search for quality sources 5.Acquire and analyze proposals 6.Evaluate proposals and. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .
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