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14 Cards in this Set
- Front
- Back
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Demand for business or organizational products derived from demand for consumer goods or services.
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Derived Demand
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A buy class framework identifies the degree of effort required of the firm’s personnel to collect information and make a purchase decision
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The Buying Situation
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The business buying process of obtaining outside vendors to provide goods or services that otherwise might be supplied in-house.
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Outsourcing
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A trading partnership in which two firms agree to buy from one another.
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Reciprocity
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A business practice in which a buyer firm attempts to identify suppliers who will produce products according to the buyer firm’s specifications.
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Reverse Marketing
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The process of dividing a larger market into smaller pieces based on one or more meaningful, shared characteristic(s).
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Segmentation
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The generation of children born between 1946 and 1964.
Characteristics Include: Children of World War II parents More single families Resist aging |
Baby Boomers
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Born between 1965 and 1978.
Characteristics Include: Cynical attitude toward marketing 70% of new start-up businesses in US Values-oriented & value-oriented Savers |
Generation X
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Refers to Americans born between 1979 and 1994, includes 71 million children of the baby boomers.
Characteristics Include: Grew up online More ethnically diverse Resist reading Free-spenders |
Generation Y
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Newly defined segment born after 1984.
Characteristics Include: Grew up online Tech Savvy Mobile Phone Users/Text |
Millennials
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Segments markets in terms of shared attitudes, interests, and opinions.
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Psychographics
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Slices consumers on the basis of how they act toward, feel about, or use a product
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Segmenting by Behavior
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A marketing rule of thumb that 20% of purchasers account for 80% of the product’s sales.
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80/20 Rule
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A new approach to segmentation based on the idea that companies can make money by selling small amounts of items that only a few people want, provided they sell enough different items.
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Long Tail
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