Analyzing Business Markets – Organizational Buying - Quiz

1. The term ‘organizational buying behavior’ was first conceptualized by:

Drucker and Levitt

Porter and Kramer

Webster and Wind

Maslow and Herzberg

2. Vendor-managed inventory (VMI) means:

Inventory is managed by third-party logistics

Inventory is jointly managed by buyer and seller

The supplier manages the buyer’s inventory levels

The buyer manages supplier stock

3. An example of an institutional market is:

Car manufacturers buying steel

Supermarkets buying from farmers

Consumers buying from retailers

Hospitals and universities purchasing goods

4. Vendor-managed inventory (VMI) means:

Inventory is managed by third-party logistics

The buyer manages supplier stock

Inventory is jointly managed by buyer and seller

The supplier manages the buyer’s inventory levels

5. Which of the following is typically more formalized in business buying than consumer buying?

Impulse purchases

Decision-making process

Peer influence

Advertising exposure

6. A government market differs because:

It emphasizes transparency and bidding

It prefers emotional buying

It focuses on luxury products

It allows informal supplier relationships

7. In B2B buying, ‘gatekeepers’ are:

Those who control the flow of information to others in the buying center

Those who finalize purchase contracts

End users of the product

External suppliers

8. A ‘modified rebuy’ involves:

Buying a product or service for the first time

Routine reordering without changes

Termination of supplier relationships

A change in product specifications, price, or supplier

9. Buyers seek suppliers that provide:

Superior value across product quality, delivery, and service dimensions

Lowest cost alone

Local offices only

High advertising visibility

10. Business-to-business e-commerce platforms enable:

Elimination of supplier competition

Only retail transactions

Consumer impulse purchases

Streamlined procurement and supplier coordination

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