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71 Cards in this Set
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What is Business Marketing?
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involves 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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JCPenny buying paper is a global business deicision
not for the consumer |
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Who are Organizational Buyers?
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are those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
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not consumers.. the middle men... IKEA
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What is NAICS?
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The North American Industry Classification System (NAICS) 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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What is derived demand?
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Derived demand is the demand for industrial products and services is driven by, or derived from, demand for consumer products and services.
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what is the Organizational buying criteria?
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Organizational buying criteria are the objective attributes of the supplier’s products and services and the capabilities of the supplier itself.
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What is ISO 9000 ?
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ISO 9000 consists of 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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How suppliers determine demand?
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Supplier development is 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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What is a buy class?
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Buy classes consists of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy.
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What is organizational buying behavior?
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Organizational buying behavior is 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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What is a make-buy decision
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A make-buy decision involves an evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself.
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What are the three types of Organizational Buyers?
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1.Industrial Markets
2.Reseller Markets (Staples Book) 3.Government Markets (Traffic Lights, pavement) |
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Which is the most important person in the buying center?
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Deciders (one with the money) or the Buyers
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What is value analysis?
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Value analysis involves a systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs.
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what is a buying center?
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A buying center consists of 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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what is an e-marketplace?
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E-marketplaces are 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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What is a traditional auction?
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A traditional auction 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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What is a bidders list?
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A bidder’s list is a list of firms believed to be qualified to supply a given item.
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What is a reverse auction?
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A reverse auction 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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What is consumer behavior?
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Consumer behavior consists of the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions.
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What is the purchase decision?
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The purchase decision process consists of the five stages a buyer passes through in making choices about which products and services to buy: (1) problem recognition, (2) information search, (3) alternative evaluation, (4) purchase decision, and (5) postpurchase behavior
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What is evaluation criteria?
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Evaluative criteria consist of Factors that represent both the objective attributes of a brand and the subjective ones a consumer uses to compare different products and brands
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what is a consideration set?
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A consideration set is the group of brands that a consumer would consider acceptable from among all the brands in the product class of which he or she is aware.
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What is cognative dissonance?
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Cognitive dissonance is the feeling of postpurchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives.
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What is involvement?
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Involvement is the personal, social, and economic significance of the purchase to the consumer.
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What are situational influences?
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Situational influences consist of the five aspects of the purchase situation that impacts the consumer’s purchase decision process:(1) the purchase task,(2) social surroundings,(3) physical surroundings,(4) temporal effects, and(5) antecedent states.
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What is motivation?
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Motivation is the energizing force that stimulates behavior to satisfy a need.
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What is personality?
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Personality is a person’s consistent behaviors or responses to recurring situations.
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what is self concept
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Self-concept is the way people see themselves and the way they believe others see them.
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what is perception?
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Perception is the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world.
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what is percieved risk?
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Perceived risk is the anxieties felt because the consumer cannot anticipate the outcomes of a purchase but believes that there may be negative consequences.
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What is subliminal perception
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Subliminal perception involves seeing or hearing messages without being aware of them.
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What is attitude?
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An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.
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What are beliefs?
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Beliefs are a consumer’s subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people.
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What is lifestyles?
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Lifestyle is a mode of living that is identified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them.
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What are opinion leaders?
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An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.
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What are reference groups?
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Reference groups consists of people to whom an individual looks as a basis for self-appraisal or as a source of personal standards.
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What is consumer socialization?
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Consumer socialization is the process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers.
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What is the family life cycle?
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A family life cycle consists of the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors.
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What is social Class?
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Social class consists of the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped.
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What are subcultures?
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Subcultures are the subgroups within the larger, or national, culture with unique values, ideas, and attitudes.
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What is counter trade?
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Countertrade is the practice of using barter rather than money for making global sales.
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What is balance of trade?
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Balance of trade is the practice of exchanging goods and services for other goods and services rather than for money.
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What is the economic espionage act?
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The Economic Espionage Act (1996) is a law that makes the theft of trade secrets by foreign entities a federal crime in the United States.
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What is protectionism?
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Protectionism is the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas.
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What are tariffs?
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Tariffs are a government tax on goods or services entering a country, primarily serving to raise prices on imports.
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What is a quota?
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A quota is a restriction placed on the amount of a product allowed to enter or leave a country.
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What is a global marketing strategy
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A global marketing strategy involves transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
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What is a strategic alliance?
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Strategic alliances are agreements among two or more independent firms to cooperate for the purpose of achieving common goals.
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What is a multi domestic marketing strategy?
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A multidomestic marketing strategy involves multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.
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What is global competition?
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Global competition exists when firms originate, produce, and market their products and services worldwide.
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What is a cross-cultural analysis?
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Cross-cultural analysis involves the study of similarities and differences among consumers in two or more nations or societies.
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The Foreign Corrupt Practices Act (1977) ?
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The Foreign Corrupt Practices Act (1977) is a law, amended by the International Anti-Dumping and Fair Competition Act (1998), that makes it a crime for U.S. corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country.
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Bottom of the Pyramid?
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Bottom of the pyramid is the largest but poorest socioeconomic group in the world consisting of 4 billion people who reside in developing countries and live on less than $2 per day.
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What is dumping?
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Dumping occurs when a firm sells a product in a foreign country below its domestic price or below its actual cost.
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Semiotics
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Semiotics is a field of study that examines the correspondence between symbols and their role in the assignment of meaning for people.
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Micro finance is?
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Microfinance is the practice of offering small, collateral-free loans to individuals who otherwise would not have access to the capital necessary to begin small businesses or other income-generation activities.
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What is a direct investment?
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Direct investment is a global market-entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division.
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what is a gray market?
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A gray market is a situation where products are sold through unauthorized channels of distribution. Also called parallel importing.
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what is marketing research?
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Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
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what is a measure of success?
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Measures of success are criteria or standards used in evaluating proposed solutions to a problem.
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What is sampling?
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Sampling involves selecting representative elements from a population.
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What is probability sampling?
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Probability sampling involves using precise rules to select the sample such that each element of the population has a specific known chance of being selected.
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what is non probability sampling?
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Nonprobability sampling involves using arbitrary judgments to select the sample so that the chance of selecting a particular element may be unknown or zero.
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what is statistical inference?
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Statistical inference involves drawing conclusions about a population from a sample taken from that population.
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what is data
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Data are the facts and figures related to the problem, divided into two main parts: secondary data and primary data.
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What is primary data?
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Primary data are the facts and figures that are newly collected for the project.
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What is secondary data?
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Secondary data are the facts and figures that have already been recorded before the project at hand.
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What is observational data?
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Observational data are the facts and figures obtained by watching, either mechanically or in person, how people actually behave.
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What is information technology?
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Information technology involves operating computer networks that collect, store, and process data.
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What is questionnarie data?
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Questionnaire data are the facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors.
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What is data mining?
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Data mining is the extraction of hidden predictive information from large databases.
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