Chap 6- Business market and business buyer behavior Flashcards

1
Q

Business buyer behavior

A

Buying behavior of the organization that goods and services for use in the production of other products and services that are sold, rented, or supplied to others

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2
Q

Business buyer process

A

Business buyers determine which products and services are needed to purchase and then find, evaluate, and choose among alternative brands

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3
Q

Supplier development

A

The systemic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and material for use in making products or reselling them to others

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4
Q

Straight rebuy

A

Buying situation in which the buyer routinely reorders something without any modification

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5
Q

Modified buy

A

Buying situation in which the buyer wants to modify product specifications, price, terms, or suppliers

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6
Q

New task

A

Buying situation in which the buyer purchases a product or service for the first time

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7
Q

System selling

A

Buying a complete solution to a problem from a single seller

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8
Q

Buying center

A

All the individuals and units that play a role in the business purchase decision making process

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9
Q

Users

A

Those that will use the product and or service

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10
Q

Influencer

A

They help define specifications and provide information for evaluating alternatives

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11
Q

Deciders

A

Have formal or informal power to select and approve final suppliers

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12
Q

Buyers

A

Have formal authority to select the supplier and arrange terms of purchase

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13
Q

Gatekeeper

A

Controls the flow of information

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14
Q

Problem recognition

A

This occurs when someone in the company recognizes a problem or a need

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15
Q

Value analysis

A

An approach to cost reduction where components are studied to determine if they can be redesigned, standardized or made with less costly methods of production

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16
Q

Production specification

A

This describes the technical criteria

17
Q

General need description

A

This describes the characteristics and quality of a needed item

18
Q

Supplier search

A

Involves compiling a list of qualified suppliers to find the best vendors

19
Q

Proposal solicitation

A

The process of requesting proposals from qualified suppliers

20
Q

Supplier selection

A

The buying center creates a list of desired supplier attributes and negotiates with preferred suppliers for favorable terms & conditions

21
Q

Performance review

A

It involves a critique of supplier performance to the order routine specifications

22
Q

Order routine specifications

A

The final order with the chosen supplier and list of all the specifications and terms of the purchase

23
Q

Institutional markets

A

These consist of schools, hospital, nursing home and prisons that provide goods and services to people in their care

24
Q

Government market

A

They tend to favor domestic suppliers that require them to submit bids and normally award the contract to the lowest bidder