MKT 360 Ch. 6

The flashcards below were created by user jordanjms on FreezingBlue Flashcards.

  1. Business marketing
    Marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others
  2. Organizational buyers
    Those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale
  3. Three markets of industrial buyers
    • 1. industrial
    • 2. reseller
    • 3. government
  4. Industrial markets
    Include firms that in some way reprocess a product or service they buy before selling it again to the next buyer
  5. Reseller markets
    Buy physical products and resell them without any reprocessing
  6. Government markets
    Federal, state, and local agencies that buy goods and services for the constituents they serve
  7. NAICS
    • North American Industry Classification System
    • Groups economic activity to permit studies
  8. Derived demand
    Demand for industrial products is driven by consumer demand for products and services
  9. Organizational buying criteria
    • Price
    • Ability to meet quality specs
    • Ability to meet delivery schedules
    • Technical capability
    • Warranties and claim policies
    • Past performance
    • Production facilities and capacity
  10. ISO 9000
    Certifies companies manufacturing and service facilities to ensure quality
  11. Supplier development
    Deliberate effort to build relationships that shape suppliers' products to fit a buyer's needs and those of its customers
  12. Reciprocity
    Industrial buying practice in which two organizations agree to buy each other's products and services
  13. Buying center
    Group of people involved in making a buying decision
  14. Organizational buying behavior
    Decision making process that organizations use to establish what they need and who to buy from
  15. Value analysis
    Systematic appraisal of a product to reduce purchasing costs
Card Set:
MKT 360 Ch. 6
2013-10-19 15:57:17

Study guide
Show Answers: