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18 Cards in this Set
- Front
- Back
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Business marketing
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the marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others.
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Organizational buyers
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those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
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North American Industry Classification System (NAICS)
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provides common industry definitions for Canada, Mexico, and the United States, which makes easier the measurement of economic activity in the three member countries of the North American Free Trade Agreement (NAFTA).
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Derived demand
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the demand for industrial products and services is driven by, or derived from, demand for consumer products and services.
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Organizational buying criteria
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the objective attributes of the supplier’s products and services and the capabilities of the supplier itself.
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ISO 9000
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standards for registration and certification of a manufacturer’s quality management and assurance system based on an on-site audit of practices and procedures developed by the International Standards Organization (ISO).
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Supplier development
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the deliberate effort by organizational buyers to build relationships that shape suppliers’ products, services, and capabilities to fit a buyer’s needs and those of its customers.
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Reciprocity
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an industrial buying practice in which two organizations agree to purchase each other’s products and services.
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Supply partnership
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a relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer.
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buying center
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a group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.
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Buy classes
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three types of organizational buying situations: straight rebuy, new buy, and modified rebuy.
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Organizational buying behavior
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the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers.
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make-buy decision
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involves an evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself.
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Value analysis
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a systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs.
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bidder’s list
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a list of firms believed to be qualified to supply a given item.
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E-marketplaces
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online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services. Also called B2B exchanges or e-hubs.
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traditional auction
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is, within an e-marketplace, an online auction in which a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.
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reverse auction
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is, within an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other
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