Term
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Definition
| When you market to organizations such as government, non profit organizations, the stores |
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Term
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Definition
When manufactures such as
1: Industrial Markets (industrial firms)
2: Reseller Markets (resellers), whole sellers, retailers
3: Government Markets (government units |
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Term
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Definition
| North American Industry Classification System |
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Term
| What are the two purposes of the Organizational Market? |
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Definition
#1 What do they make?
#2 How much? |
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Term
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Definition
| Demand of an organization for a product comes from the demand from the consumer |
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Term
| What are the size of orders from an organization? |
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Definition
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Term
| How many buyers do organizations look at? |
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Definition
| Few buyers, but large buyers |
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Term
| What is the buying objective for an organization? |
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Definition
| Buy cheap to sell for a little more to make a profit |
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Term
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Definition
| They receive criteria, then convert it into specifications (#s) X amount, and then build relationships |
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Term
| Organizational buying Criteria |
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Definition
| This is what I want, so supplier can do it |
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Term
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Definition
| When you order something custom those criteria become specifications, for supplier. They say all the products need to come at the same time to produce. Some may even come right up until production, but don't have to use a warehouse. |
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Term
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Definition
| Buy and sell to each other |
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Term
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Definition
| Team up with another supplier |
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Term
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Definition
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Term
| (5) Roles in the buying center |
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Definition
1. users- finally use products
2. Influencers- influence decision process
3. Buyers- one who negotiates
4. Deciders- approve
5. Gate Keepers- Keeps track of all the info |
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Term
| What are the (3) buying classes? |
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Definition
1. Straight Rebuy- always buy
2. Modified Rebuy- Bought before but making minor changes in specifications
3. New Rebuy- Never before |
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Term
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Definition
| There are few countries that do 2/3 of global trade |
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Term
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Definition
| barter system, 10-15%of countries that can't afford to purchase the US $ to buy US products |
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Term
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Definition
| Things we send out have an effect on things we buy, exports affect imports, vis versa |
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Term
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Definition
| Monetary value of all g&s produced in the US in one year |
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Term
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Definition
| Balance of imports and exports |
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Term
| What is porter's diamond? |
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Definition
| A companies strategy, structure, and rivalry. # of companies in an industry, intensity of competition, public or private ownership |
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Term
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Definition
| how much of a resource do you have, education, wage rates |
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Term
| Related and supporting industries |
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Definition
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Term
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Definition
| Size of market, consumer sophistication, media exposure of products # of companies in an industry, intensity of competition, public or private ownership |
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Term
| #1 Trend: Decline of economic protectionism |
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Definition
| protecting our own companies from competition |
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Term
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Definition
| increase in prices, decrease in trade |
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Term
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Definition
| Increases prices, decreases supply, decreases trade |
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Term
| If you remove protectionism what happens to trade? |
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Definition
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Term
| Trend 2- Rise of economic integration |
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Definition
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Term
| Trend 3 Global Competition |
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Definition
| Strategic alliances- get together with a common goal; trade together |
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Term
| Trend 4: Rise in integrated networks |
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Definition
More travel people go global
Internet |
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Term
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Definition
| Manufacture in own country, send somewhere else |
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Term
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Definition
| Needs/wants of our country different than others, have product for each different country |
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Term
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Definition
| whole world is one, so global business make some changes but still same name "global brand" Coke |
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Term
| What are the (4) aspects of culture? |
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Definition
1. value
2. customs
3. symbols
4. languages |
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Term
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Definition
| Similarities and differences among consumers in different countries |
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Term
| Values (modes of conduct) |
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Definition
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Term
| Customs (normal, expected way) |
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Definition
| shake hands, using chop sticks |
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Term
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Definition
| Study of symbols and their meanings |
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Term
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Definition
| think its immoral to buy foreign goods |
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Term
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Definition
| Exporting lower risk, lower profit- licensing increased risk, profit, joint venture |
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Term
| What is the difference between direct and indirect exports? |
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Definition
| Direct you send yourself and indirect are sent through an agent |
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Term
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Definition
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Term
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Definition
| send them the components and let them put the work together |
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Term
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Definition
| alliances, both share risk/ reward |
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Term
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Definition
| your company only in another country |
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Term
| What are the (5) steps of the marketing research? |
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Definition
1. Identify problem
2. design a solution
3. collect data
4. analyze data
5. make a recommendation |
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Term
Step 1: Define the problem
Exploratory research
Descriptive research
Casual research |
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Definition
try to find the ideas about the problem (ask questions)
all about finding relationships
put advertisement in one area and not in another then sell and see where it does better |
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Term
Step 2 Develop the research plan
What are the two constraints |
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Definition
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Term
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Definition
| randomly pick, all them, satellite sends it in, look at a small sample multiplying it by everyone else |
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Term
| What is the difference between probability sampling and non probability sampling? |
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Definition
probability is random and everyone has an equal chance
non probability don't know the chance, may pick whoever you want/ feel you can trust |
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Term
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Definition
| the conclusions you draw from the sample can be applied to the entire population |
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Term
Step 3 Collect relevant information/data
data
primary
secondary |
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Definition
facts, "age" "gender"
data collected for the question
collected before but used for something else |
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Term
| For primary data what is mechanical observation? |
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Definition
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Term
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Definition
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Term
| Step 5 Take marketing actions |
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Definition
| actually do what they found |
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Term
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Definition
| aggregating (taking) all the needs into common needs |
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Term
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Definition
| different parts of the categories of the market (genres of music) |
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Term
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Definition
| they all have to be different |
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