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The marketing of goods and services to individuals and organizations for purposes other than personal consumption.
A measure of a Web site’s effectiveness; calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewed during each visit.
Stickiness = Frequency x Duration x Site Reach
Major Categories of Business Customers
NAICS North American Industry Classification System
A detailed numbering system developed by the U.S., Canada, and Mexico to classify North American business establishments by their main production processes.
Demand is Derived when
Demand for business products result from demand for consumer products
Demand is Inelastic when
A change in price will not significantly affect the demand for product.
Demand is Joint when
Multiple items are used together in final product. Demand for one item affects all.
Demand is Fluctuating when
Demand for business products is more volatile than for consumer products.
Phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.
Types of Business Products
- Major Equipment
- Accessory Equipment
- Raw Materials
- Component Parts
- Processed Materials
- Business Services
Aspects of Business Buying Behavior
- Buying Centers
- Evaluative Criteria
- Buying Situations
- Business Ethics
- Customer Service
All those persons in an organization who become involved in the purchase decision.
A situation requiring the purchase of a product for the first time.
A situation where the purchaser wants some change in the original good or service
A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers.
business-to-usiness electronic commerce
the use of the internet to facilitate the exchange of goods, services, and information between organizations
the elimination of intermediaries such as wholesalers or distributers from a marketing channel
the reintroduction of an intermediary between producers and users
strategic alliance (stregic partnership)
a cooperative agreement between business firsm
a frim's beilef that an ongoing relationship with another firm is so important taht the relationship warrants maximum efforts at maintaining it indefinitely
the condition that exists when one party has confidence in an exchange partner's reliability and integrity
a network of interlocking corporate affiliates
orginal equipment manufactures (OEMs)
individuals and organizations that buy business gods and incoporate them into the products that they produce for eventual sale to otehr producers or to consumers
business-to-business online exchange
an electronic trading floor that provides companies with intergrated links to their customers and suppliers
a pratice where business purchasers choose to buy from their own customrs
major equipment (installations)
capital goods such as a large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings
goods, such as portable toosl and office equipment, that are less expensive and shorter lived than major equipment
unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables and fish
either finished items ready for assembly or products that need very little processing before becomign part of some other product
products used directly in manufacturing other products
consumable items that do not become part of the final product
expense items that donot become part of a final product