Question

What will be an ideal response?

Answer 1

In a new buy situation, a customer purchases a good or service for the first time, which means the buying decision is likely to be quite involved because the buyer or the buying organization does not have any experience with the item. In the B2B context, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision.

Answer 2

Answer: B

Answer 3

A potential customer in a new buy situation will require more information and involve more members of a buying center, while a modified rebuy situation will involve more comparison of alternatives, and will probably involve a smaller buying center.

Answer 4

False

The consumer decision process begins with need recognition.

Answer 5

The four B2B markets are resellers, manufacturers and service providers, institutions, and governments. Resellers may be wholesalers or distributors who buy products and then sell them to retailers. Manufacturers buy raw materials, components, and parts that allow them to make and market their own goods and ancillary services. Institutions are schools, hospitals, and religious organizations. In most countries, the central government is one of the largest purchasers of goods and services.