MARKETING 2500 EXAM 2 WMU (Latest
Update ) Questions & Answers
{Grade A} 100% Correct
Business buyer process steps - correct answer problem recognition > general need
description > product specification > supplier search > proposal solicitation > supplier
selection > order-routine specification > performance review
Business buyer process step 1: problem recognition - correct answer when someone
in the company recognizes a problem or need that can be acquiring a specific product
or service
Business buyer process step 2: general need description - correct answer describes
the characteristics and quantity of the needed items or solutions
,Business buyer process step 3: product specification - correct answer once the buying
organization has defined the need, it develops the items's technical product
specifications, often with the help of a value analysis engineering team - product value
analysis is an approach to cost reduction in which the company carefully analyzes a
products or services components to determine if they can be redesigned and made
more effectively and efficiently to provide greater value
Business buyer process step 4: supplier search - correct answer find the best vendors
- the buyer can locate qualified suppliers through trade directories, computer
searches or recommendations from others
Business buyer process step 5: proposal solicitation - correct answer the buyer invites
qualified suppliers to submit proposals - proposals should be written documents and
should spell out how the sellers solution creates greater value to its costumers
, Business buyer process step 6: supplier selection - correct answer the buyer will
consider many supplier attributes and their relative importance - such attributes
include product and service quality, reputation, on time delivery, ethical corporate
behavior, honest communication, and competitive prices
Business buyer process step 7: order routine specification - correct answer includes
final order with the chosen supplier or suppliers and lists items such as technical
specifications, quantity needed, expected time of delivery, return policies, and
warranties
Business buyer process step 8: performance review - correct answer the buyer
assesses the suppliers performance and provides feedback
3 steps of target marketing - correct answer market segmentation, market targeting,
market positioning
Update ) Questions & Answers
{Grade A} 100% Correct
Business buyer process steps - correct answer problem recognition > general need
description > product specification > supplier search > proposal solicitation > supplier
selection > order-routine specification > performance review
Business buyer process step 1: problem recognition - correct answer when someone
in the company recognizes a problem or need that can be acquiring a specific product
or service
Business buyer process step 2: general need description - correct answer describes
the characteristics and quantity of the needed items or solutions
,Business buyer process step 3: product specification - correct answer once the buying
organization has defined the need, it develops the items's technical product
specifications, often with the help of a value analysis engineering team - product value
analysis is an approach to cost reduction in which the company carefully analyzes a
products or services components to determine if they can be redesigned and made
more effectively and efficiently to provide greater value
Business buyer process step 4: supplier search - correct answer find the best vendors
- the buyer can locate qualified suppliers through trade directories, computer
searches or recommendations from others
Business buyer process step 5: proposal solicitation - correct answer the buyer invites
qualified suppliers to submit proposals - proposals should be written documents and
should spell out how the sellers solution creates greater value to its costumers
, Business buyer process step 6: supplier selection - correct answer the buyer will
consider many supplier attributes and their relative importance - such attributes
include product and service quality, reputation, on time delivery, ethical corporate
behavior, honest communication, and competitive prices
Business buyer process step 7: order routine specification - correct answer includes
final order with the chosen supplier or suppliers and lists items such as technical
specifications, quantity needed, expected time of delivery, return policies, and
warranties
Business buyer process step 8: performance review - correct answer the buyer
assesses the suppliers performance and provides feedback
3 steps of target marketing - correct answer market segmentation, market targeting,
market positioning
