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17 Cards in this Set
- Front
- Back
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Business Marketing
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Marketing of goods and services to individuals and organizations for purposes other than personal consumption.
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Consumer products
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products and services bought by final consumers for personal consumption
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Business (Industrial) products
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Products purchased for further processing or for use in conducting a business
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Categories of Business Customers
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Producers, Resellers, Governments, institutions
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Major equipment
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capital goods such as large or expensive machines mainframe computers, blast furnaces, generators, airplanes, and building.
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Accessory equipment
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goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment.
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Raw materials
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unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish.
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Component Parts
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either finished items ready for assembly or products that need very little processing before becoming part of some other product.
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Processed materials
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product used directly in manufacturing other products
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Supplies
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consumable items that do not become part of the final product
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Business services
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expense items that do not become part of a final product.
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Buying Center
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Decision-making unit of a buying organization. Includes all individuals and units that participate in decision making
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Evaluate Criteria and Ethical Behavior
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Business buyers evaluate products and suppliers against quality, service and price. Opens the door for manipulation and unethical behavior.
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Buyer Behavior
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Straight rebuy (no modification), modified rebuy (modification prior to purchase), new task (first-time purchase)
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nature of demand
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Demand derives, price is inelastic, and fluctuates more
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Types of demand
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more complex buying decisions, buying process more formalized
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Nature of Buying Unit
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Involve more buyers in decision process, more professional purchasing effort
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