Marketing Ch. 7

Front 1

Business Marketing

Back 1

The marketing of goods and services to individuals and organizations for purposes other than personal consumption

Front 2

Business-to-business electronic commerce

Back 2

the use of the internet to facilitate the exchange of goods, services, and information between organizations

Front 3

Stickiness

Back 3

A measure of a Web site's effectiveness; calculated by multiplying the frequency of visits by the duration of a visit by the number of pages viewed during each visit (site reach)

Front 4

Disintermediation

Back 4

the elimination of intermediaries such as wholesalers or distributers from a marketing channel

Front 5

Reintermediation

Back 5

the reintroduction of an intermediary between producers and users

Front 6

Strategic Alliance (strategic partnership)

Back 6

a cooperative agreement between business frims

Front 7

Relationship Commitment

Back 7

A firm's belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely

Front 8

Trust

Back 8

The condition that exists when one party has confidence in an exchange partner's reliabilty and integrity

Front 9

Keiretsu

Back 9

a network of interlocking corporate affiliates

Front 10

Original Equipment Manufacturers (OEMs)

Back 10

individuals and organizations that buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers

Front 11

North American Industry Classification System (NAICS)

Back 11

A detailed numbering system developed by the United States, Canada, and Mexico to classify North American business establishments by their main production processes

Front 12

Derived Demand

Back 12

the demand for business products

Front 13

Joint demand

Back 13

the demand for two or more items used together in a final product

Front 14

Multiplier Effect (accelerator principle)

Back 14

phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product

Front 15

Business-to business online

Back 15

an electronic trading floor that provides companies with integrated links to their customers and suppliers

Front 16

Reciprocity

Back 16

A practice where business purchases choose to buy from their own customers

Front 17

Major equipment (installations)

Back 17

Capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings

Front 18

Accessory Equipment

Back 18

Goods such as portable tools and office equipment, that are less expensive and shorter lived than major equipment

Front 19

Raw Materials

Back 19

unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish

Front 20

Component Parts

Back 20

either finished items ready for assembly or products that need very little processing before becoming part of some other product.

Front 21

Processed Materials

Back 21

products used directly in manufacturing other products

Front 22

Supplies

Back 22

consumable items that do not become part of the final product

Front 23

Business Services

Back 23

Expense items that do not become part of a final product

Front 24

Buying Center

Back 24

all those people in an organization who become involved in the purchase decision

Front 25

New Buy

Back 25

a situation requiring the purchase of a product for the first time

Front 26

Modified Rebuy

Back 26

a situation in which the purchaser wants some change in the original good or service

Front 27

Straight Rebuy

Back 27

A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers