WGU D099 Unit 3 with 34 questions already graded A+ ( DOWNLOAD TO PASS )

What are buying centers?

A group of people within an organization who make business purchasing decisions.

What are selling centers?

Functional representation that supports a sales person to create a team-selling approach.

Who is the economic buyer?

The individual decision maker or group within the customer organization who controls the budget and writes the checks for new product purchases.

Who is the infrastructure buyer?

Someone who makes sure that purchasing rules defined in corporate governance procedures are followed.

Who is the user buyer?

Someone who influences the buying decision as the person who will actually use the solution after the purchase decision is made.

Who are initiators?

Individuals who suggest purchasing a product or service for a business.

Who are users?

Individuals within an organization who actually use the product.

Who are influencers?

Individuals who have experience or expertise that can help improve the buying decision.

Who are gatekeepers?

Individuals who will decide if and when one gets access to members of the buying center.

Who are decision makers?

The person who makes the final purchasing decision.

Who are buyers?

The people who sign the contract. Focused on the financial aspects of the purchase and how the purchase can positively impact organizational metrics.

Who are procurement officers?

Persons who are responsible for the management, administration, and supervision of the company's acquisition programs.

What is the organizational buying process?

Process through which industrial buyers make a purchase decision.

What happens during the stage of recognizing the need?

Someone recognizes that the organization has a need that can be solved by purchasing a good or service. Users often drive this stage, although others can serve the role of initiator.

What happens during the stage of defining the need?

Usually involves users as well as initiators to put more definition around the type of product or service that will help meet the need.

What is the process of searching for suppliers?

People involved in the buying process seek out information about the products they are looking for and the vendors who can supply them.

What is bid analysis?

Qualified suppliers are asked to complete responses to requests for proposals.

What is a request for proposals (RFP)?

An invitation to submit a bid to supply a good or service.

What is supplier selection?

RFPs are reviewed and the vendor or vendors selected.

How is an order typically placed?

Order is typically placed electronically and can be one transaction or continuous.

What is performance review?

Buyer surveys quality and satisfaction levels.

Who are purchasers?

A company that purchases parts, products, or ingredients to produce other goods and services to sell to other companies or consumers.

Who are resellers?

A company that buys finished goods to sell, lease, or rent to other companies or consumers.

Who are organizations?

A government agency or nonprofit group that purchases products or services to serve or sell to its constituents.

What is a straight rebuy?

The duplicate purchase of the identical goods in the identical amount under the identical terms from the identical supplier.

What is a new task purchase?

A business buying situation in which the buyer purchases a product or service for the first time.

What is a modified rebuy?

A buying situation in which an individual or organization buys goods that have been purchased previously but changes other elements of the previous order.

What are functional relationships?

Limited, ongoing relationships that develop when a buyer continues to purchase a product from a seller out of habit, as long as its needs are met.

What are affiliative relationships?

A situation where the buyer needs extensive expertise from the seller to make a decision.

What is a strategic partnership?

A partnership in which the buyer and seller commit resources to generate growth for both parties.

What is an alliance agreement?

A formal agreement among companies who want to share resources to create a competitive advantage.

What are joint R&D agreements?

Businesses joining to develop a specific product or service.

What are co-marketing agreements?

Agreements where companies share resources to market their products together.

What are minority investments?

Investments by one organization in another organization where the investor firm holds less than 50 percent of the shares.