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Chapter 6 MKTG250

TermDefinition
B2B Marketing The marketing of products and services to companies, governments, or nonprofit organizations for use in the creation of products and services that they can produce and market to others.
Organizational Buyers Those manufacturers, wholesalers, retailers, service companies, nonprofit organizations, and government agencies that buy products and services for their own use or for resale.
NAICS (north american inudstry classification service) Provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the United States–Mexico–Canada Agreement (USMCA).
Derived Demand The demand for industrial products and services that is driven by, or derived from, the demand for consumer products and services.
Organizational Buying Behavior The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers.
Buying Center The group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.
Buy Classes Consist of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy.
New Buy new purchase
Straight Rebuy routine reorder
Modified Rebuy change product or supplier
E-Market Places Online trading communities that bring together buyers and supplier organizations to make possible the real-time exchange of information, money, products, and services. Also called B2B exchanges or e-hubs.
Traditional Auction In an e-marketplace, an online auction in which a seller puts up an item for sale and would-be buyers are invited to bid in competition with each other.
Reverse Auction In an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other.
Organizational Buying Critera (how do they decide who to choose) price, quality for specific item, meet delivery schedule, technical capability, warranties/claim policies for bad performance,past performance,product facilities
Industrial firms buy product and reprocess it before selling to consumer
resellers buy goods and immediatly resell them
GOvernment units goods they buy in order to serve others
reciprocity two organizations agree to purchase each others products
supply partnership when buyer and seller adoot common pracitces in order to l ower costs or increase value of product to consumer
buying center The group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.
four q's whos in buying center, influence of each group member, buying criteria, each member percieve the firm
users people in business who use the product or service
influencers key influencer that affect decision, by defing specifications
buyers authority and responsibility to choose supplier and negotiate terms
deciders formal/informal power to select or approve the supplier that recieves product
gatekeepers control information flow
Created by: agk236
 

 



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