chapter 2

Question 1

types of business customers

Answer 1

commercial enterprises, non-profit, government users

Question 2

commercial enterprise

Answer 2

for-profit organizations based on how the products or services in question are going to be used

Industrial Distributers
Value Added Resellers
Original Equipment Manufacturers (OEM)
Users and End Users

Question 3

Industrial distributor

Answer 3

act as middlemen providing that buys noncompeting products or product lines, warehouses them, and resells them to retailers or direct to the end users or customers

Question 4

value added resellers

Answer 4

provide an offering with unique enhancements to manufacturers products. typically provide systems to its consumers (computer software) tailored to a particular customer need

Question 5

value network

Answer 5

integration of offerings from many sources

Question 6

original equipment manufactures

Answer 6

purchase goods to incorporate them into goods they produce and sell to their customers. largest volume users of goods and services

Question 7

end user

Answer 7

purchase goods or services for consumption or incorporation into its own end products

Question 8

government units

Answer 8

local, state, and federal government units make up about 1/3 of the US gross national product. it is the largest consuming group in the U.S

Question 9

nonprofit and not-for-profit

Answer 9

hospitals, churches, nursing homes

Question 10

component parts

Answer 10

parts retain their same form when incorporated. ingredient brand
ex: Intel Processor

Question 11

accessory equipment

Answer 11

complementary products from 3rd party supplier (Ex: phone cases)

Question 12

publics

Answer 12

communities of interested parties who are not direct participants in market (internal public: employees, financial- investors)

Question 13

direct participants

Answer 13

customers, channel members, suppliers, competitors

Question 14

capital goods

Answer 14

those goods used to product output- are purchased with input from other parts of org.
ex: machinery or real estate

Question 15

public B2B environment

Answer 15

various publics or communities of interested parties who are not consumers, channel members, suppliers, or competitors. –not direct participants in the market

Question 16

financial publics

Answer 16

include banks and other lending institutions, investors, investment banks, stock exchanges

Question 17

independent press

Answer 17

media that can publish news that can enhance or destroy market position

Question 18

public interest groups

Answer 18

groups comprising a minority int eh population, are often able to get the attention of the media or opinion leaders and thus focus popular attention on their issues

Question 19

internal publics

Answer 19

every employee is a representative of the organization to the general public

Question 20

microenvironment

Answer 20

existing trends (demographic, economic, sociocultural, natural, technological, etc.)

Question 21

pure competition

Answer 21

many buyers and sellers exist with no single entity. have much effect on the price
ex: raw materials and agricultural products

Question 22

monopolistic

Answer 22

many buyers and sellers, but product is differentiable such as that a range of prices are possible

Question 23

oligopolistic competition

Answer 23

market consists of few sellers who are highly sensitive to each other (autos, airlines)

Question 24

pure monopoly

Answer 24

consists of one seller (postal service)

Question 25

monopsony:

Answer 25

one dominant buyer

Question 26

product life cycle

Answer 26

introduction, growth , maturity, decline

product categories go through serval life stages

Question 27

technology adaption life cycle

Answer 27

focuses more on the kinds of consumers and how they come to adapt to new technology–describes how a breakthrough innovation becomes adapted in the market

Question 28

chasm

Answer 28

break in the sales growth curve for new technology. gap between what is a good idea and mass market–still hasn’t made money (between visionaries and pragmatists or early and majority adapters)

Question 29

tornado

Answer 29

period of rapid growth–eventually produces the emergence of a dominate supplier
ex: whatsapp

Question 30

adaption life cycle step by step

Answer 30

technophiles, visionaries, pragmatists, conservative, laggards

Question 31

product types

Answer 31

capital goods, raw materials, accessory equipment, component parts

Question 32

types of publics

Answer 32

independent press
financial publics
internal
public interest groups