Shared Flashcard Set

Details

Chapter 6
Business to Business Marketing
11
Business
Undergraduate 3
10/16/2012

Additional Business Flashcards

 


 

Cards

Term
Participators in Business to Business Marketing
Definition
Manufacturers or Producers
Resellers
o Resellers are marketing intermediaries that resell manufactured products without significantly altering them
o Ex. Wholesalers and distributers
Institutions
o Ex. Hospitals, educational org, religious org, etc
Government
o One of the largest purchasers of goods and services
o U.S. gov spends about $2.8 trillion annually
Term
Business to Business Buying Process Elements (in order)
Definition
Need recognition
Product specification
RFP Process (request for proposals)
Proposal analysis, vendor negotiations, selection
Order specification
Vendor performance assessment using metrics
Term
Elements in a Buying Center
Definition
Initiator
Influencer
Decider
Buyer
User
Gatekeeper
Term
Autocratic buying center
Definition
One person makes decision
Term
Democratic buying center
Definition
Majority rules
Term
Consultive buying center
Definition
One person solicits input from others, but ultimately makes the decision
Term
Consensus buying center
Definition
Everyone must agree
Term
New buys
Definition
Consumer buys product for first time
All six steps in buying process will be considered
Quite involved process
Term
Modified rebuy
Definition
o Buyer has purchases a similar product in the past, but has decided to change some specifications such as price, quality level, customer service level, options, or so forth
o Current vendors have an advantage to get the sale
Term
Straight rebuy
Definition
o Buyer simply buys additional units of products that have been previously purchased
o Most B2B purchases
Term
Derived demand
Definition
The linkage between consumers’ demand for a company’s output and its purchase of necessary inputs to manufacture or assemble that particular product
Supporting users have an ad free experience!