Class Test 1

When is assignment 1 due for Business Marketing?

31 Aug at 14h00

25 Aug at 14h00

25 Aug at 17h00

Business Markets are markets for products and services, local to international, bought by:

Individuals and the government

Government only

Institutional customers and government

Commercial customers, institutional customers and government

Examples of Institutional customers are art galleries and schools

True

False

The government uses two general purchasing strategies

Negotiated contract and open bid

Close bid and advertising on street poles

Social Media

While serving different types of customers, business marketers and consumer-goods marketers have different job titles

True

False

Business Markets can be classified in the following

Entering goods and facilitating goods

Consumer goods

Facilitating goods, foundation goods and entering goods

Name 4 of the 8 major stages of the organisational buying process

There are 3 types of buying situations in business markets, namely new task, straight rebuy and modified rebuy. Give an example of a new task in business markets

Customer relationship management (CRM) aims to increase _______________________

by identifying the best customers within targeted segments and satisfying their needs in order to encourage these customer to remain ___________ and keep returning

In the inter-firm relationship marketing model, relationship strength is:

Quality x Quantity

Quality x Breadth

Quality x Composition