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Marketing Quiz Ch 6
Question | Answer |
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Business buyer behavior | Buying behavior of the organizations, retailing and wholesaling firms that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others. |
Supplier development | the systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will use in making their own products or resell |
Straight rebuy | A routine purchase decision such as reorder without any modification |
Modified rebuy | A purchase decision that requires some research where the buyer wants to modify the product specification, price, terms, or suppliers |
New task | A purchase decision that requires thorough research such as a new product |
Systems selling | The purchase of a packaged solution from a single seller |
Two-step process of selling: | Interlocking products System of production, inventory control, distribution, and other services to meet the buyer’s need for a smooth-running operation |
Buying center | All of the individuals and units that participate in the business decision-making process |
Users | Are those that will use the product or service |
Influencers | Help define specifications and provide information for evaluating alternatives |
Buyers | Have formal authority to select the supplier and arrange terms of purchase |
Deciders | Have formal or informal power to select and approve final suppliers |
Gatekeepers | Control the flow of information |
General need | Description describes the characteristics and quantity of the needed item |
Product specification | Describes the technical criteria |
Value analysis | An approach to cost reduction where components are studied to determine if they can be redesigned, standardized, or made with less costly methods of production |
Supplier search | Compiling a list of qualified suppliers |
Proposal solicitation | The process of requesting proposals from qualified suppliers |
Supplier selection | The process when the buying center creates a list of desired supplier attributes and negotiates with preferred suppliers for favorable terms and conditions |
Order-routine specifications | Is the final order with the chosen supplier and lists all of the specifications and terms of the purchase |
Performance review | Involves a critique of supplier performance to the purchase terms |
Institutional markets | hospitals, nursing homes, and prisons that provide goods and services to people in their care |
Government markets | Favor domestic suppliers and require suppliers to submit bids and normally award to the lowest bidder |