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MARKETING CH 6
| Term | Definition |
|---|---|
| Business-to-business marketing | involves the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others. |
| Organizational buyers | manufacturers, wholesalers, retailers, service companies, nonprofit organizations, and government agencies that buy goods and services for their own use or for resale. |
| Industrial Markets | |
| Reseller Markets (Wholesalers, Retailers) | |
| Government Markets | |
| Why does JCP buy so much paper? | Newspaper inserts and direct mail |
| Derived Demand | the demand for industrial products and services that is driven by, or derived from, the demand for consumer products and services |
| Product/Service | Raw and semifinished materials |
| NAICS | North American Industry Classification System |
| Organizational buying behavior | decision-making process that organizations use to establish the need for product and services and identify, evaluate, and choose among alternative brands and suppliers. |
| 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. |
| Buy classes | three types of organizational buying situations: straight rebuy, new buy, and modified rebuy. |
| Reciprocity | when two organizations agree to buy from each other |
| Supply partnership | when buyer and supplier adopt mutually beneficial objectives |
| Derived Demand Example | Fidget Spinner |