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36 Cards in this Set

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What is business to business marketing?
the marketing of goods and services that businesses and other organizations buy for purposes other than personal consumption.
What is B2B marketing for?
- Are used to manufacture other products
- Become part of another product
- Aid the normal operations of an organization
- Are acquired for resale without any substantial change in form.
What are producers?
Organizations that in some way reprocess a product or service they buy, before selling it again to the next buyer
What are resellers?
Organizations that buy finished goods and resell them again without any reprocessing.
What are government units?
Government Units are the federal, state, and local agencies that buy goods and services for the constituents they serve
What are institutions?
This segment includes hospitals, schools, churches, civic clubs, and private nonprofit organizations.
What does the North American Industry Classification System do?
provides common industry definitions for Canada, Mexico, and the United States.
What are the characteristics of organizational buying?
Multiple Buyers
Number of Customers
Size of Purchases
Geographic Concentration
Distribution Structure
Primary Promotional Method
Buyer/Seller Relationships
What is reciprocity?
is an industrial buying practice in which two organizations agree to purchase each other's products and services.
What is derived demand?
demand for business products results from the demand for consumer products.
What are the four types of buying situations?
Straight Rebuy
Modified Rebuy
New buy
The Professional Buyer
What is the buying center?
includes everyone in an organization who becomes involved in the purchase decision.
- It does not appear on organizational charts
- People can perform one or more roles in a purchase decision
Who is the initiator?
the person who first suggests making a purchase
Who are the users?
people in the organization who use the product or service.
Who are the gatekeepers?
control the flow of information to other members of the buying center.
Who are the influencers?
people who affect the buying decision.
Who are deciders?
have the formal or informal power to make the final decision.
Who are buyers?
have authority and responsibility to execute the purchase.
What is business to business marketing?
The marketing of those goods and services thar business and orgnizational customers need to produce other goods and services for resale or to support their operations
What are business to business markets?
The group of customers that include manufacturers, wholsesalers, retailers, and other organizations
What are organizational markets?
Another name for business to business markets.
What is derived demand?
Demand for business or organizational products derived from demand for consumer goods or services
What is inelastic demand?
Demand in which changes in price have little or no effect on the amount demanded
What is joint demand?
Demand for two or more goods that are used together to create a product
What are producers?
The individuals or organizations that purchase products for use in the production of other goods and services
What are resellers?
The individuals or organizations that buy finished goods for the purpose of reselling, renting, or leasing to others to make a profit and to maintain their business operations
Whar are government markets?
The federal, state, county, and local governments that by goods and services to cary out public objectives, and to support their operations
What is a buy class?
One of three classifications of business buying situatiosn that characterizes the degree of time and effort required to make a decision.
What is a straight rebuy?
A buying situation in which business buyers make routine purchases that require minimal decision making.
What is a modified rebuy?
A buying situation in which business buyers categorize a previously made purcahse that involves some change and that requires limited decision making
What is a new-task buy?
A new business to business purchase that is complex or risky and that requires extensive decision making
What is a buying center?
The group of people in an organization who participate in a purchasing decision
What are the six roles in the buying center?
1. Initiator - initiates sale by recognizing that a purcahse needs to be made
2. User - Ultimately uses the product
3. Gatekeeper - controls flow of information
4. Influencer - Affects decision by giving advice
5. Decider - actually makes the decision
6. Buyer - person who actually executes the purchase
What is reverse marketing?
A business practice in which a buyer firm attempts to identify suppliers who will produce products according to the buyer firm's specifications
What is an extranet?
A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization
What are private exchanges?
Systems that link an invited group of suppliers and partners over the web