In comparing the B2B and B2C buying processes:
a. the B2B process is more complex, but usually the buying is done by a purchasing agent which makes it easier for marketers
b. B2B buying is often as impulsive as B2C, frequently due to the persuasive power of good sales representatives
c. the B2B process has more discrete steps, though once relationship is established and the buyer is satisfied with the current goods, many steps can be eliminated
d. B2C begins with need recognition, while B2B begins with product or service specifications
e. there is no way to compare them, for they are completely different processes
Ans: c. the B2B process has more discrete steps, though once relationship is established and the buyer is satisfied with the current goods, many steps can be eliminated
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Penetration pricing means charging a relatively low price for a product as a way to reach the mass market. The low price is designed to capture a large share of a substantial market. Thus, which of the following BEST describes penetration pricing in this case?
a. It tends to lower production costs. b. It recoups product development costs quickly. c. It tempts competitors to enter the market. d. It provides a large profit per unit sold.
Life insurance policies that have dividend payments are known as
A) term life policies. B) modified life policies. C) participating life policies. D) renewable life policies.