Marketing Manag. 6-10

Front 1

Relationship with customer B2B

Back 1

invest more in maintaining personal relationships

Front 2

Number and size of customers

Back 2

Fewer but larger customers

Front 3

Geographic concentration

Back 3

supplier located strategically by the buyers

Front 4

complexity of buying process

Back 4

complex process that can take a long time and involve more people

Front 5

complexity of supply chain

Back 5

direct from supplier to manufacture

Front 6

demand for products

Back 6

derived from consumer demand, fluctuates with changes to consumer demand, and more inelastic

Front 7

supply chain

Back 7

the system synchronized movement of goods through the the channel.

Front 8

derived demand

Back 8

Demand for B2B products orginiates from the demand for consumer products, or demand for B2B products.

Front 9

Acceleration Effect

Back 9

Small changes in consumer demand can lead to considerable shift in business product demand and is called

Front 10

Straight Rebuy

Back 10

Reorder products that are used on a consistent basis

Front 11

Modified Rebuy

Back 11

Familiar with product and supplier but still seek additional information.

Front 12

New Purchase

Back 12

First time purchase of product or service.

Front 13

Three reasons for modified rebuy:

Back 13

1. poor performance by select company
2.new products have come into the market triggering a reappraisal of the current supplier.
3. Customer believes it is time for a change and wants to consider other suppliers.

Front 14

Buying Center

Back 14

Manages the purchase decision process and ultimately makes the decision.

Front 15

User

Back 15

Actual consumer of the product and play critical role.

Front 16

Initiator

Back 16

Starts the buying process usually.

Front 17

Influencers

Back 17

Relevant expertise in a particular area and provide information hat is used by the buying center.

Front 18

Gatekeepers

Back 18

Access to information and relevant individuals in the buying center is controlled by them.

Front 19

Deciders

Back 19

The purchase decision rest with one or more of these.

Front 20

NAICS

Back 20

SIC codes

Front 21

Steps in B2B buying process

Back 21

Problem Rec, Define the need, search for supplier, seek sales proposals, make the purchase decision, and post purchase eval

Front 22

Product Choice

Back 22

Based on single criterion.

Front 23

Supplier Choice

Back 23

Most important reliability

Front 24

Personal and Org. Factors

Back 24

Personal refers to the needs, desires, and objectives of those involved in the purchase decision.
Org. is risk factors.

Front 25

Market Segmentation

Back 25

Divide market into meaningful smaller markets or submarkets based on common characteristics.

Front 26

Target Market

Back 26

Evaluating the segments and deciding which shows the most promise for development.

Front 27

Positioning

Back 27

Connection b/w consumers need and wants and what the product has to offer.

Front 28

Differentiation

Back 28

Communicating and delivering value in different ways to different customer groups.

Front 29

Geographic Segmentation

Back 29

Divides consumer groups based on physical location.

Front 30

Demographic Segmentation

Back 30

Divides consumer groups based on a variety of readily measurable descriptive factors about the group.

Front 31

Physchographic Segmentation

Back 31

Relies on consumer variable such as personalities and AIOs to segment a market.

Front 32

Behavioral Segmentation

Back 32

Divides customers into groups according to similarities in benefits sought or product usage.

Front 33

Primary Target Market

Back 33

Those segments that clearly have the best chance of meeting ROI goals and the other attractiveness factors.

Front 34

Secondary Target Market

Back 34

Those segments that have reasonable potential but for one reason or another are not best suited for development immediately.

Front 35

Tertiary Target Market

Back 35

Those segments that may develop emerging attractiveness for investment in the future but that do not appear attractive at present.

Front 36

Undifferentiated Target Marketing

Back 36

A one market strategy. (mass market)

Front 37

Differentiated Target Marketing

Back 37

Developing different value offerings for different targeted segments.

Front 38

Concentrated Target Marketing

Back 38

Involves targeting a large portion of a small market.

Front 39

Customized Target Marketing

Back 39

You know.

Front 40

Product

Back 40

Be defined as anything that delivers value to satisfy a need or want and includes physical merchandise, services, events, people, places, orgs., info., even ideas.

Front 41

Stock Keeping Unit

Back 41

A unique identification number used to track a product through a distribution system, inventory management, and pricing.

Front 42

Essential Benefit

Back 42

The fundamental need met by the product.

Front 43

Core Product

Back 43

The essential benefit into physical, tangible elements known as this.

Front 44

Enhanced Product

Back 44

Extend the core product to include additional features, designs, and innovation that exceed the customers expectations.

Front 45

Durability

Back 45

References the length of product usage.

Front 46

Nondurable Products

Back 46

Usually consumed in a few uses and, in general, cost less than durable products.

Front 47

Durable Products

Back 47

A longer products life and are often more expensive.

Front 48

Convenience Goods

Back 48

Relatively low cost products for which customers have little interest in seeking new information or considering other options and rely heavily on prior brand experience and purchase behavior.

Front 49

Unsought Goods

Back 49

Products that consumers do not seek out and, indeed, often would rather not purchase at all.

Front 50

Shopping Goods

Back 50

Require consumers to do more research and compare across product dimensions such as color, size, features, and price are these.

Front 51

Specialty Goods

Back 51

A unique purchase made based on a defining characteristic for the consumer.

Front 52

Materials

Back 52

A result of the manufacturing process are either materials or parts.

Front 53

Parts

Back 53

consist of equipment either fully assembled or in smaller pieces that will be assembled into larger components and again, used in the production process.

Front 54

Supplies

Back 54

the everyday items that a company needs to keep running.

Front 55

MRO

Back 55

maintenance repair operating supplies.

Front 56

Capital Goods

Back 56

Major purchases in support of a significant business function.

Front 57

Conformance

Back 57

The product's ability to deliver on features and performance characteristics promised in marketing communications.

Front 58

Product Line

Back 58

Group of products linked through usage, customer profile, price points and distribution channels or needs satisfaction.

Front 59

Product Mix

Back 59

Combining all the products offered by a company is this.

Front 60

Stand Alone Brands

Back 60

Separate the company from the brand.

Front 61

Category Extension

Back 61

Use its brand to expand into new product categories.

Front 62

National Brands

Back 62

Are sold around the country

Front 63

Product ideas are generated external and internal.

Back 63

Product ideas generated what two ways.

Front 64

To help prioritize ideas that pass the initial screening and evaluation.

Back 64

Objective of screening new products.

Front 65

Inseparability

Back 65

Service that is produced and consumed at the same time and cannot be separated from its provider.

Front 66

Variability

Back 66

A service's quality can only be as good as that of the provider.

Front 67

Perishability

Back 67

The fact that a service can't be stored or saved up for future use.