Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

22 Cards in this Set

  • Front
  • Back
Business Marketing
Marketing of goods and services to individuals and organizations for purposes other than personal consumption
Strategic Alliance
A cooperative agreements between business firms
a network of interlocking corporate affiliates
4 Categories of Business customers
Manufacturers, Resellers, Government, and Institutions
North American Information Classification System (NIACS)
a detailed numbering system to classify North American business establishments
derived demand
demand for business products
Inelastic demand
Demand which doesn't change significantly with changes in price
joint demand
demand for two products that will be put into the same final product
multiplier effect
The phenomenon where business demand increases at a much greater portion than it's related consumer demand
Buying products from customers
Major equipment
includes capital goods of a company (buildings, blast furnaces, land, airplanes)
accesory equipment
goods that are less expensive and shorter lived than major equipment
Raw materials
unprocessed extractive or agricultural products
Component Products
Products which are ready for assembly or which require little or no assembly before becoming a part of another product
processed materials
materials used in the manufacturing of another material
consumable materials that aren't part of the final product
buying center
all those individuals who become part of a purchasing decision
business services
expenses that don't become a part of the final product
Evaluative Criteria
Quality, service, and price
New Buy
a situation requiring the purchase of a product for the first time
modified rebuy
a situation where the buyer wants some change in the original good or service
straight rebuy
a situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers
--prefered by suppliers