Term
What are the 5 brand strategies? (technically 6)
with defn |
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Definition
Multi-Product/ Family brand- using a brand name to associate a variety of products. ( SONY PS3, SONY PSP)
Multi-Brand/Individual- brand made by same company. (cheers, tide, oxydol)
- busch brand makes a variety of brands of beer
Dealer/Private/Store Brand- kenmore or craftsman from sears, or safeway
Generic Plain Label- black and white packages
-seldom used
Licensed Brand- Donald duck orange juice, using Disney character as a brand, had to purchase a license to do so from Walt Disney
Co-branding- ford and eddie bauer, ben&jerrys with reeses |
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Term
What is B2B Marketing?
DEFN |
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Definition
| marketing of goods/services to other businesses/organizational customers need in order to produce other goods/services or for resell or to support business operations |
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Term
| Characteristics of B2B markets (4) |
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Definition
- multiple buyers
- geographic concentration
- small number of costumers
- large size of purchases |
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Term
TYPES OF CUSTOMERS/ classifying business to business markets
(3 types) |
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Definition
Producers- purchase products for use in production of other goods/services to make a profit.
ex dell buys microchips from intel, Marriott buys furniture/food/linens
Resellers- Buy finished goods for the purpose of reselling/renting/leasing to consumers and other businesses.
- make goods available when people want them
Organaizations-
government: federal, state, local, county
- not for profit organizations |
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Term
| Nature of Business & 3 types of buying |
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Definition
straight rebuy- lowest effort, routine purchase repeated usually through same vendor. costumer should not have to think twice about reordering, meets quality, time, and price needs
Modified Rebuy: some effort, make some changes to a rebuy. shop around for better prices, quality, and delivery time. POSSIBLE new needs for products it already buys
New Task Rebuy- high effort, complex and takes time. involves risk
-a first time purchase
- professor assigning a text book |
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Term
| 2 methods of organizing, "buying function" |
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Definition
Professional Buyer-
trained professional who makes purchasing decisions
Buying Center-
group of people who influence/participate in purchasing condtions |
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Term
| Roles in the buying center- 6 total/ 2 different sides |
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Definition
Initiator- identifies or uses a problem/issue
User- person that is problem/facing problem/ using solution
Gate-Keeper- controls flow of information, position in management that decides if it should go up to a higher person in management
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Influencer- impacts decsion, dispenses advice or shares expertise
Decider- makes decision, greatest power in decision process. Makes final decision
Buyer- responsibility to execute purchase. identifying and evaluating alternative suppliers. handles details of transaction |
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Term
| Types Of Demand B2B... 4 TYPES |
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Definition
Derived Demand- demand for goods and services comes from either indirect/direct from consumers demand for its products. Demand could be derived from another product.
- school demand goes up, paper for textbooks goes up, more demand for trees
Inelastic Demand- demand for products does not chanfe because of increases/decreases in price.
-Price increase in parts has little effect on consumer price.
** if price gets to high for consumers they find alternatives (ELASTIC)
Fluctuating Demand:
changing in consimer demand can create large increases/ decreases in business deamand.
- life expectancy, inventory poicy
- fuel prices
Joint Demand- demand for two or more products to create a product. sale of one product partially depends on availability of the other. GOODS ARE NECESSARY TO CREATE PRODUCT
- cars need tires, spark plugs, batteries
- if supply decreases in one of these, they will have to produce less. |
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