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The demand for business goods is ultimately derived from the demand for ________.

The demand for business goods is ultimately derived from the demand for ________.

A) raw materials
B) consumer goods
C) services
D) business solutions
E) e-commerce

Answer: B

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Question 1.
Derived demand refers to the fact that the demand for business goods is ultimately derived from the demand for _____.


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Question 2.
In the _____ situation the buyer has to determine product specifications, price limits, delivery terms and times, service terms, payment terms, order quantities, acceptable suppliers, and the selected supplier.


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Question 3.
One variant of systems selling is _____ where a single supplier provides the buyer with his or her entire requirement of MRO (maintenance, repair, operating) supplies.


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Question 4.
Some companies handle ________ buyers by setting a lower price but establish restrictive conditions.


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Question 5.
To create and capture value, sellers need to understand business organizations’ needs, resources, policies, and


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Question 6.
Webster and Wind define ________ as the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.


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Question 7.
The buyer-supplier relationship characterized by simple, routine exchanges with moderate levels of cooperation and information exchange is called _____.


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Question 8.
The buyer-supplier relationship characterized by a close cooperative relationship where the seller adapts to meet the customer’s needs without expecting much adaptation or change on the part of the customer in exchange is called _____.


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Question 9.
The _____ market consists of schools, hospitals, nursing homes, and prisons.


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Question 10.
The last stage in the industrial buying process is _____.


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Question 11.
Business markets have several characteristics that contrast sharply with those of consumer markets. Which of the following characteristics describes a scenario where suppliers are expected to customize their offerings to individual business customer needs?


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