Understanding Business Markets Question

INTRODUCTION: When a business purchases product from other businesses, the buyer typically is concerned about services provided by the seller, the price of the product, and the degree to which the product meets the buyer's specifications. How much do you know about the business-to-business (B2B) buying process? How do you think online buying has affected business transactions?

INSTRUCTIONS: You will agree with some of these statements and disagree with others. You may find it hard to make a decision, but you should go ahead and make a choice. Record your answers next to the statement according to the following scale: Strongly Disagree (1), Disagree (2), Agree (3), or Strongly Agree (4). Strongly Disagree Disagree Agree Strongly Agree Question

1. Transactions involving businesses do not differ from transactions involving consumers.

2. Business transactions tend to be larger, and negotiations occur less frequently than in consumer transactions.

3. Consumers are usually better informed and more likely to seek information about specific product features than business buyers.

4. Business customers are particularly concerned about quality, service, price, and supplier relationships.

5. Quality is important because it directly affects the quality of products the buyers firm produces.

6. Factors such as market information, on-time delivery, and availability of parts are important to a business buyer.

7. Price is of primary concern to business buyers because it directly influences a firms profitability.

8. Industrial demand derives from demand for consumer products.

9. Business buyers often begin by searching online for information to solve a problem or address a need.

10. Online catalogs, blogs, videos, webinars, white papers, and peer reviews helps business buyers find the best products and suppliers.

11. Online marketing efforts make the buying process more efficient by saving time and reducing costs.

12. Organizational buyers can purchase directly from a companys website or from an online retailer.

13. Buyers and sellers from around the world can exchange information, goods, services, ideas, and payments.

14. Online auctions are especially popular for liquidating unsold, returned, and used merchandise.

15. Online exchanges let small businesses expand their customer base while reducing marketing costs.