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16 Cards in this Set

  • Front
  • Back
Business to Business Markets (B2B)
group of customers that include manufacturers, wholesalers, retailers, and other orgs
Organization Markets
Another name for business to business markets
The differences between Marketing to business customers and consumer marketing--making the process more complex
including multiple buyers, the number of customers, the size of purchases, and geographic concentration
* Population size is not one of these
The top trend for B2B marketers in 2007
rising influence of CMO(Chief marketing officer)
Derived Demand
Demand for ALL business for organizational products is derived from demand from consumer products
Inelastic Demand
Demand in which changes in price have little or no effect on the amount demanded
*business demand is also subject to greater fluctuations that is consumer demand
the individuals or orgs that purchase products for use in the production of other goods and services
Government Markets--Organizations
federal, state, county and local govts that buy goods and services to carry out public objectives and to support their operations
Top Category for Spending
Social Security
*Not National Defense
NAICS- North America Industry Classification System
numerical coding system that the United States, Canada, and Mexico, use to classify firms into detailed categories according to their business
*NAIC replaced SIC codes
Why is NAICS is better than the old SIC codes
Relevance, International Comparability, Consistency, Adatability
*Cost is not one of these
Straight Rebuy
buying situation in which business buyers make routine purchases that require minimal decision making
person who controls the flow of information to other members
Product Specifications
written description of the quality, size, weight, and so forth required of a product purchase
trading partnership in which two firms agree to buy from one another
Steps in the business buying process
Problem Recognition--> Information Search-->Evaluation of Alternatives--> Product and supplier Selection--> Postpurchase Evaluation