Marketing Chapter 7
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Marketing of those goods and services that business and organizational customers need to produce other goods and services for resale or to support their operations
Another name for business-to-business marketing
What makes business-to-business marketing different from consumer marketing?
- Multiple Buyers
- Number of Customers
- Size of Purchases
- Geographic Concentration
What is business-to-business demand like?
- Derived from consumer demand
- Fluctuates due to acceleration principle
- Joint Demand
Demand for business or organizational products derived from demand for consumer goods or services
Demand where changes in price has little to no effect on the amount demanded (as in business-to-business marketing)
Acceleration Principle (multiplier effect)
A marketing phenomenon in which a small percentage change in consumer demand can create a large percentage change in business-to-business demand
Demand for two or more goods that are used together to create a product - makes it so demand for one good affects demand for the other.
What are the 3 types of business-to-business markets?
The individuals or organizations that purchase products for use in the production of other goods and services
The individuals or organizations that buy finished goods for the purpose of reselling, renting, or leasing to others to make a profit and to maintain their business operations
Gov. Markets make up the largest single business and organizational market in the U.S.
Federal, state, county and local governments that buy goods and services to carry out public objectives and to support their operations.
A business buying process in which two or more suppliers submit proposals (including price and associated data) for a proposed purchase and the firm providing the better offer gets the bid.
The organizations with charitable, educational, community, and other public service goals that buy goods and services to support their functions and to attract and serve their members
North American Industry Classification System. The numerical coding system that the U.S., Canada, and Mexico use to classify firms into detailed categories according to their business activities.
The three classifications of business buying situations that characterizes the degree of time and effort required to make a decision
A buying situation in which business buyers make routine purchases that require minimal decision making
A buying situation classification used by business buyers to categorize a previously made purchase that involves some change and that requires limited decision making
A new business-to-business purchase that is complex or risky and that requires extensive decision making
A business buying practice in which a single department does the buying for all the company's facilities, giving the purchaser great leverage.
The group of people in an organization who participate in a purchasing decision
What are the roles in the buying center?
A role in the buying center. The initiator first recognizes the need for purchase.
A role in the buying center. The user is the one in actual need of the product
Member of the buying center who controls flow of information to other members
Affects the buying decision by dispensing advice or sharing experience (like an engineer)
The member of the buying center who has the power to make the final decision
The person in the buying center who actually executes the purchase and its details
List the steps in the business buying decision process.
- Problem Recognition
- Information Search
- Evaluation of Alternatives
- Product and Supplier Selection
- Postpurchase Evalution
The business practice of buying a particular product from many suppliers
A trading partnership in which two firms agree to buy from one another
The business buying process of obtaining outside vendors to provide goods or services that otherwise might be supplied in house
A business practice in which a buyer firm attempts to identify suppliers who will produce products according to the buyer firm's specifications
Internet exchanges between two or more businesses or organizations
Private, Corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization
Systems that link an invited group of suppliers and partners over the Web
A combination of computer hardware and software that ensure only authorized individuals gain entry into a computer system
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