Term
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Definition
| provides common industry definitions for Canada, USA, and Mexico to make economic activity relatable |
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Term
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Definition
| demand for product drives by demand for consumer products |
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Term
| Organizational Buying criteria |
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Definition
| 1. price 2. ability to meet specifications 3. schedule 4. technical capability 5. warranties and claims policy |
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Term
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Definition
| the deliberate effort by organization buyers to build relationships that shape suppliers products to fit buyer's needs |
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Term
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Definition
| exists when a buyer and supplier adopy mutually beneficial objectives for the purpose of lowering costs or increasing value |
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Term
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Definition
| people in an organization who participate in the buying process |
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Term
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Definition
3 types of buying situations:
1. straight rebuy
2. new buy
3. modified rebuy |
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Term
| organizational buying behavior |
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Definition
| decision making process that organizations use to establish the need for products among alternative brands |
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Term
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Definition
| evaluation of whether components and assemblies will be purchased from outside suppliers or company itself |
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Term
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Definition
| systematic appraisal of design, quality, and performace of a product |
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Term
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Definition
| list of firms believed to be qualified to supply a given item |
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Term
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Definition
| online places of info exchange |
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Term
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Definition
| sellers puts out item for sale and invites buyers to bid |
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Term
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Definition
| buyer communicates need for a product and suppliers are invited to compete for business |
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