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Marketing > marketing ch.6 > Flashcards

marketing ch.6 Flashcards

1
Q

Business Marketing

A

marketing of stuff to companies/organizations/government

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2
Q

Organizational Buyers

A

Manufacturers, wholesalers, retailers and govt agencies who buy/sell for own use or resale

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3
Q

3 Organizational Buyer Markets

A

industrial, reseller, govt

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4
Q

industrial markets

A

reprocesses a product before selling it

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5
Q

reseller markets

A

wholesalers/retailers who buy physical products and resell without reprocessing

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6
Q

Government Markets

A

government agencies that buy goods/services for the constituents they serve

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7
Q

NAICS (North American Industry Classifciation System)

A

measures markets. Provides definitions. Designates with numerical codes

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8
Q

Derived Demand

A

demand for industrial products and services is derived from demand for consumer products and services

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9
Q

Size of organizational buy orders

A

size is larger –> more money at stak –> constraints and competitive bids

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10
Q

Number of potential buyers

A

firms selling to organizations restricted to fewer buyers. ex.jets

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11
Q

Organizational Buying Objectives for business firms

A

icnrease profits through reducing costs/ increasing revenue

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12
Q

Organizational buying objectives for governmnet

A

usually to meet needs of groups they serve

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13
Q

Organizational Buying Criteria

A

objective attributes of the suppliers products and services as well as capibilities of supplier itself

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14
Q

ISO 9000

A

standards developed by international standards organization for registration/certification of quality mangment and assurance system

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15
Q

Supplier development

A

effort by org. buyers to build relationships that shape suppliers products/services/capabilities to fit buyers needs

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16
Q

JIT Manufacturing

A

reduces the inventory of production part to those to be used within hours or dats

17
Q

Reciprocity

A
  • industrial buying practice where organizations agree to by each other’s good. Legal, but Justice Department disapproves
18
Q

Supply Partnership

A
  • when a buyer and its supplier adopt mutually beneficial objectives, policies and procedures to lower costs or increase value of products.
19
Q

Buying Center

A
  • several people in an organization sharing common goals, risk and knowledge important to purchase decisions.
20
Q

Roles in the Buying Center

A

Users, influencers, buyers, deciders, gatekeepers

21
Q

Users-

A

people in the organization who use product

22
Q

Influencers

A

Influencers- affect buying decisions usually by helping to define specifications

23
Q

Buyers

A

Buyers- have the formal authority to choose suppliers, negotiate contract

24
Q

DEciders

A

Deciders formal/informal power to select/approve supplier that receives

25
Q

Gatekeepers

A

Gatekeepers- control flow of info.

26
Q

buy classes

A

Buy Classes- three types of buying situations

27
Q

New Buy

A

New Buy- first time buyer of product/service. Greater risk involved. Buying center therefore enlarged to include all who have stake in new buy

28
Q

Straight reBuy

A

Straight Rebuy - reordering an existing product/service from list of acceptable suppliers. Small buying center (ex. Office supplies)

29
Q

Modified Rebuy

A

Modified Rebuy- users/influencers/deciders want to change the product/specs/delivery/supplier. Item purchased largely the same. Larger buying center

30
Q

Organizational buying behavior

A
  • decision making process that orgs use to establish need for products/services and to choose among brands/suppliers
31
Q

Stages in Organizational Buying Process

A

Stages in Organizational Buying Process- very similar to consumers, but more people, bigger, more formal

32
Q

Make-buy decision

A

whether components are purchased or produced internally

33
Q

Value Analysis

A

systematic appraisal of design, quality and performance of a product to reduce purchasing cost.

34
Q

Bidder’s list

A

list of firms qualified to supply. Generated from databank and engineering inputs

35
Q

Post purchase Behavior

A

supplier performance is monitored, Items examined formally (product acceptance process)

36
Q

Traditional Auction

A

Seller puts an item up for sale. Buyers invited to bid.

More buyers=more upward pressure on prices

37
Q

Reverse auction

A

Buyer communicates need.
Suppliers make offers
Downward pressure on bid prices

Marketing (18 decks)

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