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23 Cards in this Set

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business marketing
marketing of goods/services to companies, govt, or not-for-profit organizations for use in creation of goods/services that they can produce and market to others
organizational buyers
manufacturers, wholesales, retailers, and govt. agencies that buy g/s
industrial firms
reprocess a product/service they buy b4 selling it again to the next buyer
resellers
wholesalers and retailers that buy physical products and resell them again without any reprocessing
government units
fed, state, and local agencies that buy g/s for the constituents they serve
North American Industry Classification System (NAICS)
provides common industry definitions for Canada, Mexico, and the US, which makes easier the measurement of economic activity in the 3 member countries of NAFTA.
derived demand
demand for industrial products and services is driven by, or derived from, demand for consumer products and services
organizational buying criteria
objective attributes of the supplier's products and services and the capabilities of the supplier itself
criteria include: price, ability to meet quality specifications and required delivery schedules, technical capability, warranties and claim policies, past performance, and production facilities and capacity
ISO 9000
standards for registration and certification of a manufacturer's quality mgmt and assurance system based on an on-site audit of practices and procedures
reverse marketing
build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its consumers
reciprocity
industrial buying practice in which 2 orgs agree to purchase each other's products and services
supply partnership
buyer and supplier adopt mut. beneficial objectives, policies, and procedures for the purpose of lowering the cost/increasing the value of products and services delivered to the ultimate consumer
buying center
share common goals, risks, and knowledge impt to a purchase decision
roles in the buying center:
users
influencers
buyers
deciders
gatekeepers
buy classes
straight rebuy
modified rebuy
new buy
organizational buying behavior
decision making process that orgs use to establish the need for products and services and id, evaluate, and choose among alternative brands and suppliers
stages in the buying decision process:
problem recognition
info search
alternative eval
purchase decision
postpurchase behavior
make-buy decision
eval of whether components and assemblies will be purchased from outside suppliers or built by the company itself
value analysis
systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs
bidder's list
list of firms believed to be qualified to supply a given item
e-marketplaces
bring together buyers and supplier organiations
traditional auction
seller puts up an item for sale and would-be buyers are invited to bide in competition w/each other
reverse auction
buyer communicates a need for a product/service and would-be suppliers are invited to bide in competition w/each other. ends when a single bidder remains and 'wins' the business w/its lowest prices. reduces cost of purchases