Marketing Chapter 6 : Business Marketing

Front 1

Business marketing

Back 1

The marketing of goods and services to individuals and organizations for the purposes other that personal consumption.

Front 2

Business-to-business electronic commerce

Back 2

The use of the internet to facilitate the exchange to goods, and 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 times the duration of a visit times the number of pages viewed during each visit (site reach).

Front 4

Disintermediation

Back 4

The elimination of intermediaries such as wholesalers or distributors from a marketing channel.

Front 5

Strategic alliance (strategic partnership)

Back 5

A cooperative agreement between business firms.

Front 6

Relationship commitment

Back 6

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 7

Trust

Back 7

The condition that exists when one party has confidence in an exchange partner's reliability and integriity.

Front 8

Keiretsu

Back 8

A network of interlocking corporate affiliates. (Usually found in Japan)

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Original equipment manufactures (OEMs)

Back 9

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

Front 10

North American Industry Classification System (NAICS)

Back 10

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

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Derived Demand

Back 11

The demand for business products.

Front 12

Joint demand

Back 12

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

Front 13

Multiplier effect (accelerator principle)

Back 13

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

Front 14

Business-to-business online exchange

Back 14

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

Front 15

Reciprocity

Back 15

A practice where business purchasers choose to buy from their own customers.

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Major equipment (installations)

Back 16

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

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Accessory equipment

Back 17

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

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Raw Materials

Back 18

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

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Component Parts

Back 19

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

Back 20

Products used directly in manufacturing other products.

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Supplies

Back 21

Consumable items that do not become a part of the final product.

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Business Services

Back 22

Expense items that do not become a part of the final product.

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Buying center

Back 23

All those people in an organization who become involved in the purchase decision.

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New Buy

Back 24

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

Front 25

Modified rebuy

Back 25

A situation where the purchaser wants some change in the original good or service.

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Straight rebuy

Back 26

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