Which of the following is not a step in the formal business-to-business buying process?

Unlike consumer buying habits, businesses usually have a more formal approach toward purchasing. Rather than make impulse purchases, businesses will compare prices, compare suppliers and compare the quality of goods and services before completing a sale. Although some companies may spend more time on specific steps in the process or they may eliminate certain steps altogether, most business-to-business purchases can be divided into eight distinct steps.

1. A Problem Is Identified

The purchasing process does not begin until someone identifies a problem within the organization, which can be solved by purchasing a good or service. Anyone within the organization can initiate this – from a customer service rep out of printer paper – to the CEO who decides that it's time to expand to a larger facility. In some instances, a sales person may help someone in the organization to identify a need that no one had previously recognized.

2. General Need Description

After a problem is identified, the organization determines which product or service is required. When an office is out of printer paper, the office manager may decide that more paper is needed. However, a software engineer in the same company might suggest that the organization become paperless by providing all employees in the office with tablet computers.

3. Product or Service Specification

Once the general need is agreed upon by those who have purchasing authority in that organization, they will then narrow down the options by specifying what the product or service must offer. If they have decided on tablets, they would then specify the size they want, how much memory the tablets offer, and so on. If they decide on paper, then they would determine the quantity and quality of paper required.

4. Potential Supplier Search

The third step of the buying process involves looking for potential suppliers. If the company doesn't already have an established relationship with a vendor that offers the product, then often the company must look online, attend trade shows or contact suppliers by telephone. Purchasers determine if the suppliers are reputable, financially stable and if they'll be around for future requirements.

5. Request for Proposals

For large purchases, organizations usually write out a formal RFP, a Request for Proposal, and then send it to their preferred suppliers. Alternatively, they may make the process public so that anyone can send in a proposal. For smaller purchases, this could be as simple as looking at the price on a website.

6. Supplier Evaluation and Selection

In this part of the process, supplier proposals and prices are evaluated to determine who is offering the best price and the best quality. Often, price alone is enough to win an organization's business, as many businesses will weigh the price against financing options, supplier reputation and whether or not a supplier can provide the organization with future goods and services.

7. Establishing Credit and Order Specification

Once the winning supplier has been selected, the organization places the order. This may involve establishing credit with the supplier, agreeing on terms, as well as reviewing shipment times and any other deliverables that may come with the sale, such as installation or product training.

8. Supplier Performance Review

After the product has been delivered or the service has been performed, the organization will review the purchase to see if it meets acceptable standards. For larger purchases, this could be a formal review involving key decision makers in the organization and the supplier's sales staff. For smaller purchases, it is often informal. For example, if the company ordered a box of paper that arrived late or was damaged, the company may decide not to buy from that supplier again, without ever informing the supplier of a problem.

Although she wasn't told this when hired, at her new job Dana noticed that the employees eat lunch at their desks while continuing to work and that on Fridays most everyone dresses casually. These behaviors are most likely part of the

In B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.

In a(n) _____ buying center, one person is authorized to make a decision, but input from others is gathered before doing so.

In a(n) _____ buying center, there may be many participants, but one person makes the decision alone.

In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.

Proposal analysis, vendor negotiation, and selection

Which of the following is NOT one of the six buying center roles? Decider Gatekeeper Advisor Initiator Buyer

Which of the following statements regarding the B2B buying process is TRUE? The B2B buying process is less complex than the B2C buying process. In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured. The B2B buying process is identical to the B2C buying process. In the B2B buying process, formal performance evaluations of the vendor generally do not occur. In the B2B buying process, decisions are made quickly and without much consideration.

In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.

John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation?

The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a _____ situation.

The business-to-business buying process is initiated by which of the following steps? Need recognition Proposal analysis The RFP process Vendor performance assessment Product specification

Used by many smaller companies to help streamline procurement or distribution processes, _____ is an Internet site whose purpose is to be a major starting point for users when they connect to the web.

In _____ buying centers, all members of the team must reach a collective agreement that they can support a particular purchase.

In terms of business markets, organizations like hospitals that provide goods and services to people in their care are classified as

Autocratic buying centers are characterized by

When Kinko’s replenishes its supply of copy paper, it most likely involves a _____ situation.

Which of the following social media tools is mainly used for professional networking in the B2B marketplace?

_____ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer's needs.

Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation.

With its estimated outlay of over $500 billion dollars for fiscal year 2014, the Pentagon represents which type of B2B organization?

In _____, the buyer is often the only member of the buying center involved in the process.

What are the steps of the business to business buying process?

How many steps are in the B2B buying process?

Which of the following are roles within a buying center choose every correct answer?

What is the final stage in the B2B buying process?