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Marketing 351 > Test 2 > Flashcards

Test 2 Flashcards

1
Q

Producer markets

A

Individuals who purchase products to use them to make other products.

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2
Q

Reseller markets

A

Wholesalers who buy goods and resell them for a profit

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3
Q

Government markets

A

Governments that buy goods to support their internal operations

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4
Q

Institutional markets

A

Organizations with nonbusiness goals

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5
Q

Attributes of business customers

A

Demand details

Partnerships (mutually beneficial)

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6
Q

Concerns of B customers

A

Price
Quality
Service
Supplier

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7
Q

Methods of business buying

A

Description
Inspection
Sampling
Negotiation

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8
Q

Business purchases

A

New task
Straight rebuy
Modified rebuy

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9
Q

New task purchase

A

Purchase of an item to be used to perform a new job or solve a problem

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10
Q

Straight rebuy purchase

A

Buy products continuously for the same price

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11
Q

Modified rebuy purchase

A

New task purchase is altered after two or theee orders

Ex (lower prices, different quality)

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12
Q

Demand for business products

A

Derived
Inelastic
Joint
Fluctuating

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13
Q

Derived demand

A

Demand to business products derived from demand for consumer products

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14
Q

Inelastic demand

A

Price increase or decrease doesn’t alter demand. There are no ready substitutes

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15
Q

Joint demand

A

Two or more items combined to produce a product (patron example)

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16
Q

Stages of business buying decisions

A 
Problem
Product specifications to solve problem
Search products/suppliers
Select products/supplies
Evaluate
17
Q

Value analysis

A

Evaluation of each component of a potential purchase

18
Q

Influences on business buying decision process

A

Environmental
Organizational
Interpersonal
Individual

19
Q

Environmental forces in the global market

A 
Sociocultural 
Economic forces
Political legal 
Ethical responsibility 
Competition
Technology

Marketing 351 (2 decks)

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