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25 Cards in this Set
- Front
- Back
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Business Buyer Behavior |
The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others. |
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Business Buying Process |
The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands |
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Derived Demand |
Business demand that ultimately comes from the demand for consumer goods. |
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Supplier Development |
Systematic development of networks 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 |
A business buying situation in which the buyer routinely reorders something without any modifications |
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Modified Rebuy |
A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers |
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New Task |
A business buying situation in which the buyer purchases a product or service for the first time. |
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Systems/Solutions Selling |
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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Buying Center |
All the individuals and units that play a role in the purchase decision-making process |
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Users |
Members of the buying organization who will actually use the purchased product or service |
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Influencers |
People in an organization's buying center who affect the buying decision; they often help define specifications and also provide info for evaluating alternatives. |
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Buyers |
People in an organization's buying center who make an actual purchase |
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Deciders |
People in an organization's buying center who have formal or informal power to select or approve the final suppliers. |
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Gatekeepers |
People in an organization's buying center who control the flow of information to others |
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Problem Recognition |
Can result from internal or external stimuli |
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General Need Description |
Describes characteristics and quality of the needed item |
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Product Specification |
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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Supplier Search |
The stage of the business buying process in which the buyer tries to find the best vendors |
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Proposal Solicitation |
Stage of business buying process in which the buyer invites qualified supliers to submit proposals |
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Supplier Selection |
The stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers. |
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Order-routine Specification |
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 |
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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E-Procurement |
Purchasing through electronic connections between buyers and sellers- usually online |
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Institutional Market |
Consists of schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care. |
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Government Market |
Governmental units- federal, state, and local- that purchase or rent goods and services for carrying out the main functions of government. |
