MArketing 6-10
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| What 3 categories are Organizational Buyers divided into? | industrial firms, which in some way reprocess a product/service they buy before selling again to the next buye(2) resellers, which are wholesalers/retailers that buy physical products/resell them again without any reprocessing; and (3) government units,
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| Name the 7 commonly used Organizational Buying Criteria 1-4 | (1) price, (2) ability to meet the quality specifications required for the item, (3) ability to meet required delivery schedules, (4) technical capability,
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| Name the 7 commonly used Organizational Buying Criteria 5-7 | (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity. Suppliers that meet or exceed these criteria create customer value.
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| What are the three buy class situation characteristics? New Buy | New buy. Here the organization is a first-time buyer of the product or service. This involves greater potential risks in the purchase, so the buying center is enlarged to include all those who have a stake in the new buy.
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| What are the three buy class situation characteristics? Straight Rebuy | Straight rebuy. Here the buyer or purchasing manager reorders an existing product or service from the list of acceptable suppliers, probably without even checking with users or influencers from the engineering, production, or quality control departments.
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| What are the three buy class situation characteristics? Modified Rebuy | Modified rebuy. In this buying situation the users, influencers, or deciders in the buying center want to change the product specifications, price, delivery schedule, or supplier.
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| Describe eMarketplace | A significant development in organizational buying has been the creation of online trading communities, called e-marketplaces, that bring together buyers and supplier organizations.
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| eMarketplace and its 2 different formats | a traditional auction - One Seller, Many Buyers
a reverse auction - Many sellers, One Buyer
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| What are Michael Porters key elements in competitive advantage? 1-2 | (1) Factor conditions—a nation's ability to turn its natural resources, education, and infrastructure into a competitive advantage. (2) Demand conditions—includes both the number and sophistication of domestic customers for an industry's product.
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| What are Michael Porters key elements in competitive advantage? 3-4 | Related/supporting industries—clusters of world-class suppliers that accelerate innovation.Company strategy, structure,rivalry—the conditions govrning the way a nations busineses are organized and managed, along with the intensity of domestic competition.
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| What is Competitive Advantage |
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| What is Protectionism | the practice of shieldin one or more industres within a countrys economy from foreign comptition thru the use of tarifs, a gvrnment tax on products or services enterin a country that primarily serve to raise prices on imports and quotas,
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| what is WTO? | The major industrialized nations of the world formed the World Trade Organization (WTO) in 1995 to address an array of world trade issues
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| Describe Global Competition | exists when firms originate, produce, and market their products and services worldwide.
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| What is Cross-cultural analysis |
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| What are the steps in Market research approach? | Define the problem, Develop the research plan, collect relevant information, Develop findings, Take marketingActions
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| Describe examples of market research | is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.
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| What are the m,ain types of sales forecasting | (1) judgments of the decision maker, (2) surveys of knowledgeable groups, and (3) statistical methods.
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| describe two types of synergies | Marketing synergies run horizontally across a market-product grid.
Product synergies run vertically down the market-product grid.
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| describe two types of synergies | Marketing synergies often come at the expense of product synergies because a single customer segment will likely require a variety of products, each of which will have to be designed and manufactured.
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| describe two types of synergies | Conversely, if product synergies are emphasized, marketing will have to address the concerns of a wide variety of consumers, which costs more time and money.
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| what is product repositioning? | involves changing the place a product occupies in a consumer's mind relative to competitive products.
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| Describe the substitutions for brand loyalty |
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| 8 primary market related factors for product failure 1-4 | Insignificant point of difference. Incomplete market and product protocol before product development starts. Not satisfying customer needs on critical factors. Bad timing.
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| 8 primary market related factors for product failure 5-8 | No economical access to buyers. Poor product quality. Poor execution of the marketing mix: brand name, package, price, promotion, distribution. Too little market attractiveness.
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