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27 Cards in this Set
- Front
- Back
the marketing of goods and services to individuals and organizations for purposes other than personal consumption
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business marketing
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the use of the internet to facilitate the exchange of goods, services, and information between organizations
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business-to-business electronic commerce
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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)
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stickiness
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the elimination of intermediaries such as wholesalers or distributers from a marketing channel
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disintermediation
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the reintroduction of an intermediary between producers and users
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reintermediation
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a cooperative agreement between business firms
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strategic alliance/ partnership
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a firm's belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely
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relationship commitment
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the condition that exists when one party has confidence in an exchange partner's reliability and integrity
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trust
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a network of interlocking corporate affiliates
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keiretsu
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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
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original equipment manufacturers (OEMs)
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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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North American Industry Classification System (NAICS)
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the demand for business products
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derived demand
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the demand for two or more items used together in a final product
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joint demand
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phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product
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multiplier effect (accelerator principle)
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an electronic trading floor that provides companies with integrated links to their consumers and suppliers
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business-to-business online exchange
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a practice where business purchasers choose to buy from their own customers
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reciprocity
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capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings
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major equipment (installations)
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goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment
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accessory equipment
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unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish
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raw materials
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either finished items ready for assembly or products that need very little processing before becoming part of some other product
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component parts
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products used directly in manufacturing other products
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processed materials
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consumable items that do not become part of the final product
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supplies
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expense items that do not become part of a final product
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business services
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all those people in an organization who become involved in the purchase decision
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buying center
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a situation requiring the purchase of a product for the first time
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new buy
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a situation where the purchaser wants some change in the original good or service
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modified rebuy
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a situation in which the purchaser reorders the same goods or services without looking for new information or investigation other suppliers
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straight rebuy
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