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D099 - module 3

D099 - Unit 3

TermDefinition
buying centers The group responsible for making the buying decision in companies
selling centers a group that helps the salesperson through the selling process
economic buyers This individual is responsible for buying products that enable the company to achieve a business advantage.
infrastructure buyers This role influences the buying decision at the execution level.
user buyers This position influences the buying decision at the user level and decides whether the organization will achieve its financial objectives through the purchase.
merchandisers A staff member in a retail firm who is responsible for buying goods or products and displaying them in the store
stakeholders A person, a group, or an organization who can affect or be affected by the organization's actions, objectives, and policies
initiators the people within the organization who first see the need for the product.
Users the people and groups within the organization who actually use the product.
Influencers People who may or may not use the product but have experience or expertise that can help improve the buying decision.
Gatekeepers Individuals who will decide if and when one gets access to members of the buying center
Decision Makers the person who makes the final purchasing decision.
Producers Companies that buy products to make or build a product or service to sell for a profit.
Resellers Companies that purchase finished goods to sell, lease, or rent to B2B or B2C purchasers.
Business-to-government (B2G) markets when companies sell to local, state, and federal governments
prime contractors Those that hold a government vetted contract directly
subcontractors Sellers that do business with another company that holds the direct contract with the government
straight rebuy a purchaser buys the same product in the same quantities from the same vendor.
new task purchase when a firm purchases a product for the first time.
modified rebuy when a company wants to buy the same type of product it has in the past but make some modifications to it.
Functional relationships limited, ongoing relationships that develop when a buyer continues to purchase a product from a seller out of habit, as long as its needs are met.
MRO nuts and bolts used to repair manufacturing equipment, are often sold on the basis of functional relationships.
Affiliative selling relationships A situation where the buyer needs extensive expertise from the seller to make a decision
Strategic partnerships A partnership in which the buyer and seller commit resources to generate growth for both parties
Alliance agreements A formal agreement among companies who want to share resources to create a competitive advantage.
Joint R&D agreements Two or more businesses join to develop a specific product or service.
Co-marketing agreements An agreement where companies share resources to market their products together
Minority investments An investment by one organization in another organization in which the investor firm holds less than 50 percent of the shares
just-in-time (JIT) A system in which materials or components are delivered immediately before they are required in order to minimize inventory costs
preferred supplier a firm that is under contract with another business to provide it with goods or services.
preferred supplier agreement (PSA) An agreement entered into by a company and one of its third-party suppliers
consolidated purchasing everyday purchasing needs like office supplies that are centralized
conducting by negotiations after the company submits an RFP stating their needs and prices the company will negotiate with other party.
micro purchases Purchases under $10,000 and don't need a bid
simplifies acquisition purchases under $250,000. involve less paperwork and fewer approval levels
sealed bids this is a response to an invitation for bids that are reviewed by officers
Created by: lissmisstree
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