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Details Title: Define + Lists Description: Chapter 6 Total Flash Cards: 24 Created: 10/01/2007 12:19:08	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Business Buying Behavior Definition The buying behavior of the organizations that buy goods and services for use in other production of other products and services or for a purpose of reselling or renting to others at a profit Term Business Buying Process Definition The decision process by which business buyers determine which products and services their organizations need to purchase, and then find, evaluate, and choose among alternative suppliers Term Derived Demand Definition Business demand that ultimately comes for the demand for consumer goods Term Supplier Development Definition Systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will use in making their own products or resell others Term Straight Rebuy Definition Business buying situation in which the buyer routinely reorders something without modifications Term Modified Rebuy Definition Business buying situation in which the buyer wants to modify the product specifications,price,or suppliers Term New Task Definition Business buying situation in which the buyer purchases a product or service for the first time Term Systems Selling Definition Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation Term Buying Center Definition All the individual and units that participate in the business buying decision process Term Users Definition Members of the buying organization who will actually use the the purchased product or service Term Influencers Definition People in an organization's buying center who affect the buying decision; they often help define specifications and also provide information for evaluating alternatives Term Buyers Definition The people who make an actual purchase Term Deciders Definition People in the organization's buying center who have formal or informal power to select or approve the final suppliers Term Gatekeepers Definition People in an organization's buying center who control the flow of information to others Term Problem Recognition Definition The first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or service Term General Need Description Definition The stage in the business buying process in which the company describes the general characteristics and quantity of a needed item Term Product Specification Definition The stage in the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item Term Value Analysis Definition An approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made less costly methods of production Term Supplier Seacrh Definition The stage in the business buying process in which the buyer tries to find the best vendors Term Proposal Solicitation Definition The stage in the business buying process in which the buyer invites qualified suppliers to submit proposals Term Supplier Selection Definition The stage in the business buying process in which the buyer reviews proposals and chooses a supplier Term Performance review Definition The stage in the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement Term Institutional Market Definition Schools, hospitals, nursing, homes, prisons, and other institutions that provide goods and services to people in their care Term Government Market Definition Governmental units - federal, state, and local - that purchase or rent goods and services for carrying out the main functions of government