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Marketing Exam 3
Chapter 7
| Question | Answer |
|---|---|
| Business and organizational customers | any buyers who buy for resale or to produce other goods and services. |
| Purchasing specifications | a written or electronic description of what a firm wants to buy. |
| ISO 9000 | a way for a supplier to document its quality procedures according to internationally recognized standards. |
| Purchasing managers | buying specialists for their employers. |
| Multiple buying influence | several people share in making a purchase decision--perhaps even top management |
| Buying center | all the people who participate in or influence a purchase. |
| Vendor analysis | formal rating of suppliers on all relevant areas of performance. |
| Requisition | a request to buy something. |
| New-task buying | when an organization has a new need and the buyer wants a great deal of information. |
| Straight rebuy | a routine repurchase that may have been made many times before. |
| Modified rebuy | the in-between process where some review of the buying situation is done--though not as much as in new-task buying or as little as in straight rebuys. |
| Competitive bid | terms of sale offered by different suppliers in response to the buyer's purchase specifications. |
| Just-in-time delivery | reliably getting products there just before the customer needs them. |
| Negotiated contract buying | agreeing to a contract that allows for changes in the purchase arrangements. |
| Outsource | contract with an outside firm to produce goods or services rather than to produce them internally. |
| North American Industry Classification System (NAICS) codes | codes used to identify groups of firms in similar lines of business. |
| Open-to-buy | a buyer has budgeted funds that he can spend during the current time period. |
| Resident buyers | independent buying agents who work in central markets for several retailer or wholesaler customers based in outlying areas or other countries. |
| Foreign Corrupt Practices Act | a law passed by the U.S. Congress in 1977 that prohibits U.S. firms from paying bribes to foreign officials. |
Created by:
spage21
on 2012-03-05