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MKTG 250 Chapter 6

TermDefinition
Reseller Market wholesalers, retailers
Industrial Market non-profit, non-governemntal
Government Markets federal, local, state
Reciprocity when two organizations agree to buy from each other
Supply Partnership when buyer and supplier adopt mutually beneficial objectives
Derived Demand the demand for industrial products and services that is driven by, or derived from, the demand for consumer products and services
Org. Buying Criteria price, ability to meet quality specifications, ability to meet delivery schedules, technical capability, warrants + claim policies, past performance, production facilities + capacity
Org. Buying Behavior the decision-making process that organizations use to establish the need for product and services and identify, evaluate, and choose among alternative brands and suppliers
Org. Buying Behavior Steps problem recognition, information search, alternate evaluation, purchase decision, post-purchase behavior
Buying Center consists of 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
E-Marketplace are 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, is an online auction in which a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other
Reverse Auction in an e-marketplace, is 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
Market Characteristics demand is derived
Product of Service Characteristics few customers, buy more (ex: toilet paper + raw/semi-finished goods)
Buying Process Characteristics reciprocal arrangement, negotiate, online buying
Marketing Mix Characteristics direct selling is the rule, negotiate
Types of Buy new buy, modified rebuy, straight rebuy
Created by: user-2023011
 

 



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