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ch 6-7
| Term | Definition |
|---|---|
| traditional auction | e marketplace, online bid in competition with each other |
| e marketplaces | online trading communities that bring together buyer and suppliers' organization to make possible the real time exchange of information, money, products services. (B2B exchanges or e hubs) |
| buying classes | consist of 3 types of organizations (straight rebuy) (new buy) (modified rebuy) |
| buying center | group of people in an organization who participate the buying process and share common goals, risks, and knowledge important to a purchase decision |
| organizational buying behavior | the decision-making process that organizations use to establish the need for products/services and identify, evaluate, choose among alternative brands/suppliers |
| sustainable procurement | integrates environmental considerations |
| supply partnership | when buys/supplier adopt mutually benefiical objectives |
| reciprocity | when two organizations to buy from each other |
| derived demand | industrial products/services that is driven by, or deprived from, the demand for consumer products/services |
| organizational buyers | manufacturers, wholesalers, retailers, service companies, nonprofit organizations, and government agencies that buy goods/services for their own use or for resale |
| b2b | involves the marketing of products and services to companies, government, or not for profit organizations for use in the creation of goods/services that they can produce and market to others. |
| reverse auction | marketplace, online auction need for a product invite on how much they'd charge in competition |
| CH. 7 | |
| countertrade | the practice of using barter rather than money for making global sales |
| balance of trade | the difference between the monetary value of a nation's exports and imports |
| globalization | the focus on creating economic, cultural, political, and technological interdependence among individuals' national intuitions and economies |
| protectionism | the practice of shielding one or more industries within a country's economy from foreign competition through the use or tariffs or quotas |
| tariffs | government taxes on products or services entering a country that primarily serve to raise prices on imports |
| quota | restriction placed on the amount of a product allowed to enter or leave a country |
| global competition | exists when firms originate, produce, and market their products and services worldwide |
| multidomestic marketing strategy | used by multinational firms that have as many different product variations, brand names, and advertisng programs as countries in which they do business |
| global marketing strategy | used by transnational firms that employ the practice or strategizing marketing activities when there are cultural similarities and adapting them when cultures differ |
| global brand | brand marketed under the same name is multiple countries with similar and centrally coordinated marketing programs |
| global consumers | consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services |
| cross cultural analysis | study of similarities and differences among consumers in two or more nations or societies |
| customs | what is considered normal and expected about the way people do things in a specific country |
| cultural symbols | things that represent ideas and concepts in a specific culture |
| back translation | the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors |
| consumer ethnocentrism | the tendency to believe that it is inappropriate to, indeed imported, to purchase foreign made products |
| currency exchange rate | price of one country's currency expressed in terms of another country's currency |
| exporting | global market entry strategy in which a company produces products in one country and sells them in another country |
| joint venture | global market entry strategy in which a foreign company and a local firm invest together to create a local business in order to share the ownership, control, and profits of the new company |
| economic espionage | the clandestine collection of trade secrets of proprietary information about a company's competitors |
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user-2064626