Term
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Definition
occurs when an individual or group purchases a specific kind of product for resale, direct use in producing other products, or use in general operations
Four categories: producer markets, reseller markets, government markets, or institutional markets |
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Definition
| individuals or business organizations that purchase products to make profits by using them to produce other products or using them in their operations |
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| Resellers are intermediaries who buy finished goods and resell them for a profit |
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| federal, state, county or local governments that buy goods and services to support their internal operations and provide products to their constituencies |
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| organizations with charitable, educational, community or other nonbusiness goals |
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| Primary concerns of business customers |
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Definition
Price, quality, service, and supplier relationships
-very few firms wants to base it solely on price |
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Definition
| purchased item to be used to perform a new job or solve a new problem |
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Definition
| routine purchases of same products under approximately same terms |
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| new-task purchase that is changed on subsequent orders or when straight-rebuy requirements are modified |
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Term
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Definition
demand for industrial products that stems from demand for consumer products
(B2B products are solely based on the consumer market) |
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Definition
| demand that is not significantly altered by a price increase or decrease |
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demand involving two or more items in combination to produce a product
ex. building homes - more doors, building cars - need steel |
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Definition
| the demand for any given business product can change in response to consumer demand changes |
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| Business (organizational) buying behavior |
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Definition
| the purchase behavior of producers, government units, institutions, and resellers |
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Term
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Definition
the people within an organizations, including users, influencers, buyers, deciders, and gatekeepers, who make business purchase decisions
"purchasing agents" |
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Term
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Definition
| an evaluation of each component of a potential purchase |
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Term
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Definition
| a formal, systematic evaluation of current and potential vendors |
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Definition
| an organization's decision to use several suppliers |
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Definition
| an organization's decision to use only one supplier |
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| Establishing corporate credibility |
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Definition
expertise, trustworthy, and likeability
expertise and trustworthy are most important |
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