Institutions Constitute Another Important Market

question 105

Multiple Choice

Institutions constitute another important market. Institutional buyers include a wide variety of organizations, such as schools, hospitals, libraries, foundations, clinics, churches, and not-for-profit agencies. A small software company develops computer programs for different business institutions. Which of the following challenges can this company anticipate?​

• A) ​Institutions do not have buying centers.
• B) ​Different institutions have varying buying practices.
• C) ​Some institutions employ a purchasing manager to make decisions.
• D) ​Social media and marketing make institutional buying more complex.
• E) ​Institutional businesses sometimes join cooperative associations to pool their purchases.

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Definitions:

Social Comparison

The process by which individuals evaluate their own opinions and abilities by comparing themselves to others.

Intellectual Abilities

Mental capacities and skills that involve reasoning, problem-solving, planning, abstract thinking, complex idea comprehension, learning quickly, and learning from experience.

Social Abilities

are the skills and competencies that enable individuals to interact effectively with others, including communication, empathy, and relationship-building.

Stereotypical Gender Expectations

The societal norms and beliefs about the behaviors, roles, and attributes that are deemed appropriate for men and women.