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MKTG EXAM 2

TermDefinition
Business-to -business the marketing of products and services to companies, government, or nonprofit organizations for use in the creation of products and services that they can PRODUCE AND MARKET TO OTHERS
Organizational buyers manufacturers, wholesalers, retailers, service companies, non profit organizations and government agencies that BUY PRODUCTS and services for their OWN use or for SALE.
Ultimate buyer consumer
Industrial market Companies that sell FINISHED goods. Take the unfinished good and come out finished.
Reseller Retailer who buy physical goods and RESSEL it Wholesaler → buys from manufacturers and sells to other businesses. Retailer → buys products from wholesalers sells them directly to the final consumer.
Derived demans + example the DEMAND FOR INDUSTRIAL products is DRIVEN BY or derived from,DEMAND FOR CONUMER product and services ex: FIDGED SPINNER = used other places in the industry, but ran out because consumers wanted
Organizational buyer criterai the objective attributes of the supplier’s product
Why does JC Penny buys tons of paper? To insert and direct mail
MARKET CHARACTERISTIC of organizaitonal buying behavior Demand for industrial products is derived Few customers = larger orders
PRODUCT CHARACTERISTICS of organizaitonal buying behavior Prodcts/services are TECHINICAL IN NATURE and purchased on the basis of SPECIFICATIONS Many pruchased goods are RAW or semifinished
BUYING PROCESS of organizaiton buying behavior ONLINE BUYING over the internet is widespread
MARKETING MIX of organization buying behavior DIRECT SELLING to organiational buyers is the rule advertisinf and other forms of PROMOTION are TECHNICAL IN NATURE PRICE is NEGOTIATD + affected by QUANTITY discounts
organizational buyer CRITERIA teh OBJECTIVE ATTIRBUTES of the supplier's product and services and the CAPABILITY of the supplieritslef
Most common criteria 1. PRICE 2. ability to meet QUALITY specification 3. ability to meet DELEVIREY schedules 4. TECHNICAL capabalityt (can the supplier figure out the problems?) 5. WARRANTIES 6. production FACILITIES and CAPACITY
What is RECIPROCITY When two organizations agree to buy from each other
What is SUPPLY PARTNERSHIP when buyer and supplier adopt MUTUALLY BENEFICIAL OBJECTIVES
What isSUSTAINABLE PROCUREMENT Integrated ENVIRONMENT considerations ex: not buying from someone because they hurt the environment
What is ORGANIZATIONAL BUYING BEHAVIOR the DECISION-MAKING PROCESS that organizations use to establish the need for the producst and identify, evaluate and choose among alternative brands and suppliers.
What is the organizational purchase decision process and how is it different from consumer one? 1. Problem recognition 2. Information search 3. Alternative evaluation 4. PRUCHASE DECISION = NEGOTIATE TERMS and CONTRACTS 5. Postpurchase behavior = use FORMAL vendor rating system
Buying Center is synonom of..... and means...... purchasing and procurement SEVERAL PEOPLE in the organization PARTICIPATING in the BUYING PROCESS
What are the types of BUYING SITUATIONS New buy Straight buy Modified rebuy
meaning and characteristics of NEW BUY situation something NEVER BOUGHT before - MANY people involved - LONG decision time - UNCERTAIN problem definition - GOOD SOLUTION for buying objective - NEW/PRESENT suppliers consideration - TECHNICAL buying influence
meaning and characteristics of STARIGH REBUY situation buying something again. Just placing a new order - ONE people involved - SHORT decision time - WELL-DEFINED problem definition - LOW-PRICED SUPPLIER for buying objective - PRESENT suppliers consideration - PURCHASING AGENTbuying influence
meaning and characteristics of MODIFIED REBUY situation Placing a new order but sightely modified - 2/3 people involved - MODERATE decision time - MINOR MODIFICATIONS problem definition - LOW-PRICED SUPPLIER for buying objective - PRESENT suppliers consideration - PURCHASING AGENT buying influence
Buying a bike sitting but made out of a different material is...... a modified rebuy.
e-marketplace ONLINE communities that bring BUYERS + SELLERS TOGETHER
Traditional auction seller puts an item for sale and would-be BUYERS are INVITED TO BID in compeition with each other HIGHEST BIDS Leilao
Reverse auction a buyer communicates a need for a product or service and would-be SUPPLIERS are invited to bid competition with each other consumer request the information and suppliers bid
Created by: alicerpio
 

 



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