marketing mid term ch 6
Help!
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| business to business marketing | the marketing of goods and services that businesses and other organizations buy for purposes other than personal consumption
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| organizational markets | aka business to business markets - the group of customers that include manufacturers, wholesalers, retailers, and other organizations
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| characteristics of business markets | multiple buyers, number of customers, size of purchases, geographic concentration
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| derived demand | demand for business or organizational products caused by demand for consumer goods or services
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| inelastic demand | demand in which changes in price have little or no effect on the amount demanded
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| fluctuating demand | caused by change in demand, a products life expectancy, economy changes, etc
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| joint demand | demand of two or more goods that are used together to create a product
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| types of business-to-business markets | producers, resellers, government and not-for-profit organizations
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| producers | the individuals or organizations that purchase products for use in the production of other goods and services that they, in turn sell to make a profit
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| resellers | individuals or organizations that buy finished goods for the purpose of reselling, renting or leasing to others to make a profit and to maintain their business operations
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| government organizations | the federal, state, county, and local governments that buy goods and services to carry out public objectives and to support their operations, largest single organizational market in the US
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| not-for-profit institutions | organizations with charitable, educational, community, and other public service goals that buy goods and services to support their functions and to attract and serve their members
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| business buying situations | buyclass framework- one of three classifications of business buying situations that characterizes the degree of time and effort required to make a decision-straight rebuy, modified rebuy, new-task rebuy
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| straight rebuy | a buying situation in which business buyers make routine purchases that require minimal decision making - contributes to the 'bread and butter' - company puts so much effort into these relationships
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| modified rebuy | abuying situation classification used by business buyers to categorize a previously made purchase that involves some change and that requires limited decision making - firm shops around for better prices, quality, etc
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| new-task buy | a new business-to-business purchase that is complex or risky and that requires extensive decision making - 1st time purchase, no previous experience
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| steps in buying decision process | 1.recognize the problem 2.search for information 3.evaluate the alternatives 4.select the product and shipper 5.evaluate postpurchase
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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