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