Term
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Definition
| the process of buying and selling goods and services to be used in the production of other goods and services |
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Term
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Definition
| reflects the link between consumers' demand for a company's output and the company's purchase necessary inputs to manufacture or assemble that particular output |
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Term
| What is the difference between B2B and B2C? |
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Definition
| the ultimate user of that product or service |
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Definition
| resellers, manufacturers, institutions, and government |
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Definition
| buy raw materials, components, and parts that allow them to manufacture their own goods |
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| marketing intermediaries that resell manufactured goods without significantly altering their form. Wholesalers, and distributers. |
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Definition
| hospitals, educational orgs, religious orgs |
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Definition
| one of the largest purchases of goods and services (ex. child support programs) |
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Definition
| paralles B2C. B2B are more formal and structured, specify needs in writing, final decisions rests with a committee, |
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Term
| Need Recognition (Stage 1) |
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Definition
| recognizes there is an unfulfilled need |
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Term
| Product Specification (Stage 2) |
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Definition
| org begins to consider alternative solutions and comes up with potential specifications that vendors might use to develop their proposals |
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Term
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Definition
| organizations invite alternative vendors or suppliers to bid on supplying their required components or specifications |
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| Proposal Analysis, Vendor Negotiation, and Selection (Stage 4) |
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Definition
| evaluates all the proposals it receives in response to its RFP. |
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| Order Specification (Stage 5) |
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Definition
| firm places its order with its preferred supplier |
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Term
| Vendor Performance Assessment Using Metrics (Stage 6) |
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Definition
| analyze vendor purchase to decide about their future purchases |
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Definition
| initiator, influencer, decider, buyer, user, gatekeeper |
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Definition
| first suggests to buy the product |
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Definition
| views influence other members of the buying center in making the final decision |
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Definition
| ultimately determines any part or entire buying decision |
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Definition
| who consumers or uses the product |
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Definition
| handles the paperwork of the actual purchase |
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Definition
| controls information or access to decision makers and influencers |
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Definition
| reflects the values, traditions, and customs that guide its employees' behavior |
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Definition
| one person makes the decision alone |
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Definition
| majority rules in decision making |
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Definition
| all members reach a collective agreement |
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Term
| consultative buying center |
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Definition
| one person makes a decision but solicit input from others before doing so |
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Definition
| purchases good or service for the first time |
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Definition
| has purchased something similar in the pat but has decided to change some specifications |
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Definition
| buyer buys additional units of the same thing |
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