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Marketing Exam 2 Study Guide > Chapter 7 > Flashcards

Chapter 7 Flashcards

1
Q

B2B marketing

A
  • Process of buying/selling goods/services to be used in the production of other goods/services
  • consumption by the buying organization; and/or resale by wholesalers and retailers
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2
Q

B2C marketing

A

How product or service improves life

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3
Q

B2B markets

A

Reseller, Institutions, Government, Manufacturers/service providers

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4
Q

Reseller

A

Purchase products from businesses and sell them to other businesses without significantly altering them (Wholesalers, Distributers, Retailers)

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5
Q

Institutions

A

Schools, museums and religious organizations

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6
Q

Government

A

State and local gov.

Firms specialize in selling to the government

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7
Q

Manufacturers/service providers

A

Buy raw materials, components or parts, manufacture their own goods

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8
Q

B2B buying process

A
  1. Need recognition
  2. Product specification
  3. request for proposal (RFP)
  4. Proposal analysis
  5. Order specification
  6. Vendor analysis
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9
Q

Amazon

A

Retailer and Manufacturer

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10
Q

Buying center and roles

A 
Initiator
Influencer
Gatekeeper
Decider
Buyer
User
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11
Q

Organizational culture

A

Autocratic - one vote
Democratic - majority rules
Consultative - one person makes decision, solicits input from others
Consensus - all agree

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12
Q

Buying situations

A

New Buy
Straight Rebuy
Modified Rebuy

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13
Q

New buy

A

Purchasing for the 1st time
Lengthy process
The buying center will probably use all 6 steps

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14
Q

Straight rebuy

A

Buying additional units or products that have been previously purchased
Most B2B purchases fall in the category

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15
Q

Straight rebuy

A

Buying additional units or products that have been previously purchased
Most B@B purchases fall in the category

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16
Q

Modified rebuy

A

Purchasing a similar product but changing specifications

Current vendor have an advantage

17
Q

Initiator

A

the person who first suggests buying the particular product or service

18
Q

Influencer

A

the person whose views influence other members of the buying center in making the final decision

19
Q

decider

A

the person who ultimately determines any part of or the entire buying decision - whether to buy, what to buy, how to buy, or where to buy

20
Q

buyer

A

the person who handles the paperwork of the actual purchase

21
Q

user

A

the person who consumes or uses the product or service

22
Q

gatekeeper

A

the person who controls information or access, or both, to decision makers and influencers

Marketing Exam 2 Study Guide (4 decks)

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