Chapter 5 Flashcards
Derived demand
Business demand that ultimately comes from consumer demand
Supplier development
Systematic development of networks o suppliers in order to make sure the company always has goods to sell
Straight rebuy
A business buying situation in which the buyer routinely reorders something without any modification
Modified rebuy
A business buying situation in which the buyer wants to modify product specifications, price terms, or suppliers
Buying center
All individuals and units that play a role in the purchase decision making process
Business buyer behavior
The buying behavior of organizations that buy goods for use in other products that are then sold to others
Business buying process
The decision process by which business’s determine which products their organization needs to purchase and then evaluate amounts the brand and companies
E procurement
Purchasing through electronic connections between buyers and sellers online
Product value analysis
Carefully analyzing products or services components to determine if they can be redesigned and made more efficient and effectively to provide greater value
New task
A business buying situation in which the buyer purchases a product or service for the 1st time
System selling
Buying a packaged solution to a problem from a single buyer, thus avoiding all the separate decisions involved in a complex buying process
Consumer buyer behavior
Buying behavior of consumers, individuals, and households that buy goods for personal consumption
Consumer market
All the individual and households that buy or acquire goods or services for personal consumption
Culture
The set of basic values perceptions wants and behaviors learned by a member of society from family and other institutions
Sub culture
A group of people with shared value systems based on a common life experiences and situations
