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29 Cards in this Set

  • Front
  • Back
Business-to-Business Marketing (B2B)
The marketing of those goods or services that business and organizational customers need to produce other goods and services for resale or to support their operations.
B2B Markets
The group of customers that include manufacturers, wholesalers, retailers, and other organizations.
Organizational Markets
Another name for B2B markets.
Differences in B2B Markets:
-Multiple Buyers
-Number of Customers
-Size of Purchases
-Geographic Concentration
B2B Demand
-Derived Demand
-Inelastic Demand
-Fluctuation Demand
-Joint Demand
Derived Demand
Demand for organizational or business products that flows from demand for consumer goods and services.
Inelastic Demand
Demand does not change with a change in price.
Fluctuating Demand
Small changes in consumer demand can lead to big changes in business demand. Business customers tend to buy big products infrequently.
Joint Demand
Demand for two or more goods that are used together to create a product.
The individuals or organizations that purchase products to use in the production of other goods or services.
Individuals or organizations that purchase finished goods to resale, leas or rent to others to make a profit and to maintain their business operations.
Government Markets
The biggest organizational market. The federal, state, and local governments that buy goods and services to carry out public services and support their operations.
Not-for-Profit Organizations
Organizations with charitable, educational, community, or other service goals that buy goods and service to support their functions and to attract and serve their members.
North America Industry Classification System (NAICS)
A coding system used by member of the NAFTA to classify firms into detailed categories according to their business activities.
Buy Class
One of the three business buying situations in that characterize the degree of time and effort to make a decision.
Straight Rebuy
A buying situation in which business buyers make routine purchases that require minimal time and effort. Sometimes automated on computers.
Modified Rebuy
A buying situation that involves some change and limited decision making. Buy the same product, but may come from new manufacturer or supplier.
New-task Buy
A new B2B purchase that is complex or risky and that requires extensive decision making.
Buying Center
Not a physical location, not the purchasing department. A cross-functional group of people who participate in a purchasing decision.
Product Specifications
A written description of the quality, size, weight, and so forth required of a product purchase.
Just in Time (JIT)
Inventory MGT and purchasing processes that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries arrive only when needed.
Single Sourcing
The business practice of buying a particular product from only one supplier.
Multiple Sourcing
The business practice of buying a specific product from many suppliers.
A trading partnership in which two firms agree to buy from one another.
The business buying process of obtaining outside vendors to provide goods or services that otherwise might be supplied in-house.
Reverse Marketing
A business practice in which a buyer first attempts to identify suppliers who will produce products according to the buyer firm's specifications.
B2B e-commerce
Internet exchanges between two or more business organizations.
A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization.
Private Exchanges
Systems that link an invited group of suppliers and partners over the web.