Topic 4: Analysing Business Markets and Buyer Behaviour

What is organizational buying?

• a) Selling products to consumers

• b) The process by which organizations purchase goods and services they need

• c) Purchasing services from individuals

• d) Buying goods for personal use

2. What is a key difference between the business market and the consumer market?

• a) Consumer markets are more structured than business markets

• b) Business markets involve only small purchases

• c) Consumer markets have more professional buyers

• d) Business markets have fewer, larger buyers

3. What is an example of a routine product?

• a) Specialized manufacturing equipment

• b) Custom-made machinery

• c) High-end software

• d) Printer paper

4. What type of buying involves purchasing a product or service for the first time?

• a) New task

• b) System buying

• c) Straight rebuy

• d) Modified rebuy

5. What does the term “system buying” mean?

• a) Relying on intermediaries for purchases

• b) Using trade shows for purchases

• c) Purchasing a complete solution or package

• d) Buying multiple items separately

6. Which of the following is a characteristic of institutional markets?

• a) They serve captive audiences

• b) They typically buy products for resale

• c) They are not concerned with cost or quality

• d) They focus on maximizing profit

7. Who controls the flow of information in the buying center?

• a) Buyers

• b) Gatekeepers

• b) Gatekeepers

• d) Approvers

8. What is the primary goal of supply chain management orientation?

• a) Focusing only on short-term gains

• b) Reducing supplier involvement

• c) Improving efficiency through long-term partnerships

• d) Reducing costs without considering quality

9. Which type of buyer values quality, support, and reliable delivery the most?

• a) Solution-oriented buyers

• b) Strategic-value buyers

• c) Gold-standard buyers

• d) Price-oriented buyers

10. What is the primary goal of e-procurement?

• a) Avoiding online platforms

• b) Simplifying and speeding up the purchasing process

• c) Reducing supplier involvement

• d) Replacing all suppliers with a single vendor