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19 Cards in this Set
- Front
- Back
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business buyer behavior
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the buying behavior of the organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit
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business buying process
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the decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and chose among alt suppliers and brands
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derived demand
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business demand that ultimately comes from the demand for consumer goods.
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supplier development
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systematic development of networkds of supplier-partners to ensure an appropriate and dependable supply of products and materials for use in making products or reselling them to others.
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straight rebuy
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a business buying situation in which the buyer routinely reorders something without any modifications.
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modified rebuy
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a business situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.
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new task
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a business buying situation in which the buyer purchases a product or service for the first time.
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systems selling
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buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation
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problem recognition
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the first stage of business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or service
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general need description
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the stage in the business buying process in which the company describes the general characteristics and quantity needed of them
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product specification
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the stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item
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value analysis
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an approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made less by costly methods of production.
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supplier search
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the stage of the business buying process in which the buyer tries to find the best vendors
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proposal solicitation
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the stage of the business buying process in which the buyer invites qualified suppliers to submit proposals
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supplier selection
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the stage of the business buying process in which the buyer reviews suppliers proposals and selects a supplier
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order- routine specification
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the stage of the business buying process in which the buyer writes the final order with the chosen suppliers listing the technical specifications, quantity, needed, expected time of delivery, return policies and warranties.
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performance review
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the stage of the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement.
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institutional market
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schools, hospitals, homes, prisons, and other institutions that provide goods and services to people in their care.
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government market
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governmental units- federal, state, local- that purchase or rent goods and services for carrying out the main functions of government.
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