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36 Cards in this Set
- Front
- Back
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What is business to business marketing?
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the marketing of goods and services that businesses and other organizations buy for purposes other than personal consumption.
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What is B2B marketing for?
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- 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. |
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What are producers?
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Organizations that in some way reprocess a product or service they buy, before selling it again to the next buyer
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What are resellers?
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Organizations that buy finished goods and resell them again without any reprocessing.
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What are government units?
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Government Units are the federal, state, and local agencies that buy goods and services for the constituents they serve
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What are institutions?
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This segment includes hospitals, schools, churches, civic clubs, and private nonprofit organizations.
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What does the North American Industry Classification System do?
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provides common industry definitions for Canada, Mexico, and the United States.
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What are the characteristics of organizational buying?
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Multiple Buyers
Number of Customers Size of Purchases Geographic Concentration Distribution Structure Primary Promotional Method Buyer/Seller Relationships |
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What is reciprocity?
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is an industrial buying practice in which two organizations agree to purchase each other's products and services.
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What is derived demand?
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demand for business products results from the demand for consumer products.
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What are the four types of buying situations?
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Straight Rebuy
Modified Rebuy New buy The Professional Buyer |
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What is the buying center?
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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 |
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Who is the initiator?
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the person who first suggests making a purchase
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Who are the users?
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people in the organization who use the product or service.
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Who are the gatekeepers?
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control the flow of information to other members of the buying center.
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Who are the influencers?
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people who affect the buying decision.
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Who are deciders?
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have the formal or informal power to make the final decision.
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Who are buyers?
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have authority and responsibility to execute the purchase.
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What is business to business marketing?
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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
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What are business to business markets?
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The group of customers that include manufacturers, wholsesalers, retailers, and other organizations
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What are organizational markets?
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Another name for business to business markets.
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What is derived demand?
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Demand for business or organizational products derived from demand for consumer goods or services
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What is inelastic demand?
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Demand in which changes in price have little or no effect on the amount demanded
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What is joint demand?
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Demand for two or more goods that are used together to create a product
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What are producers?
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The individuals or organizations that purchase products for use in the production of other goods and services
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What are resellers?
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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
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Whar are government markets?
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The federal, state, county, and local governments that by goods and services to cary out public objectives, and to support their operations
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What is a buy class?
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One of three classifications of business buying situatiosn that characterizes the degree of time and effort required to make a decision.
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What is a straight rebuy?
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A buying situation in which business buyers make routine purchases that require minimal decision making.
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What is a modified rebuy?
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A buying situation in which business buyers categorize a previously made purcahse that involves some change and that requires limited decision making
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What is a new-task buy?
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A new business to business purchase that is complex or risky and that requires extensive decision making
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What is a buying center?
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The group of people in an organization who participate in a purchasing decision
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What are the six roles in the buying center?
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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 |
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What is reverse marketing?
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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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What is an extranet?
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A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization
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What are private exchanges?
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Systems that link an invited group of suppliers and partners over the web
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