Term
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Definition
| individuals and organizations that buy goods and services to make other goods and services, resell, and conduct the organization's operations |
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Definition
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Term
| The ONLY way to do business with the government |
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Definition
- RFQ/RFP
*Request for Quotation
*Request for Proposal |
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Term
| Production of goods in the US |
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Definition
| - there are more services being produced in the US than physical goods |
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Term
| The Characteristics of Transactions with Business Customers |
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Definition
- orders are much larger and more costly/expensive
- purchases are made more frequently
- terms of sales contracts are longer
- a committee may be involved in the purchase decision
- a buyer and seller purchase from each other(reciprocity) |
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Term
| 3 Types of Business Purchases |
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Definition
- New-Task Purchase
- Straight Rebuy Purchase
- Modified Rebuy Purchase |
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Term
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Definition
| demand for business products stems from demand for consumer products |
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Term
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Definition
| - business customers often buy the same quantity whether the price goes up or down |
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Term
| The Business Buying Decision Process- which one is most important |
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Definition
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Term
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Definition
| the people within an organization who make business purchase decisions |
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Term
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Definition
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Term
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Definition
help develop the dispense of advice or share expertise
* business key influencers are consultants
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Term
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Definition
| - select suppliers and executes terms of the purchase |
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Term
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Definition
| actually choose the products |
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Term
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Definition
- control the flow of information to others in the buying center
* a purchasing agent in a large firm |
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Term
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Definition
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Term
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Definition
| - used in business operations |
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Term
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Definition
| - basic natural materials that become part of a physical product |
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Term
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Definition
| - items that become part of the physical product |
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Term
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Definition
| - the intangible products that many organizations use in their operations |
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Term
MRO Supplies
- Maintenance, Repair, and Operating Supplies |
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Definition
| - supplies that facilitate production and do not become part of the finished product |
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