MGKT Chapter 7

The flashcards below were created by user ndumas2 on FreezingBlue Flashcards.

  1. Business Marketing
    The marketing of goods and services to individuals and organizations for purposes other than personal consumption.
  2. Stickiness
    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
  3. Major Categories of Business Customers
    • Producers
    • Resellers
    • Governments
    • Institutions
  4. 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.
  5. Demand is Derived when
    Demand for business products result from demand for consumer products
  6. Demand is Inelastic when
    A change in price will not significantly affect the demand for product.
  7. Demand is Joint when
    Multiple items are used together in final product. Demand for one item affects all.
  8. Demand is Fluctuating when
    Demand for business products is more volatile than for consumer products.
  9. Multiplier Effect
    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.
  10. Types of Business Products
    • Major Equipment
    • Accessory Equipment
    • Raw Materials
    • Component Parts
    • Processed Materials
    • Supplies
    • Business Services
  11. Aspects of Business Buying Behavior
    • Buying Centers
    • Evaluative Criteria
    • Buying Situations
    • Business Ethics
    • Customer Service
  12. Buying Center
    All those persons in an organization who become involved in the purchase decision.
  13. New Buy
    A situation requiring the purchase of a product for the first time.
  14. Modified Rebuy
    A situation where the purchaser wants some change in the original good or service
  15. Straight Rebuy
    A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers.
  16. business-to-usiness electronic commerce
    the use of the internet to facilitate the exchange of goods, services, and information between organizations
  17. disintermediation
    the elimination of intermediaries such as wholesalers or distributers from a marketing channel
  18. reintermediation
    the reintroduction of an intermediary between producers and users
  19. strategic alliance (stregic partnership)
    a cooperative agreement between business firsm
  20. relationship commitment
    a frim's beilef that an ongoing relationship with another firm is so important taht the relationship warrants maximum efforts at maintaining it indefinitely
  21. trust
    the condition that exists when one party has confidence in an exchange partner's reliability and integrity
  22. keiretsu
    a network of interlocking corporate affiliates
  23. 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
  24. business-to-business online exchange
    an electronic trading floor that provides companies with intergrated links to their customers and suppliers
  25. reciprocity
    a pratice where business purchasers choose to buy from their own customrs
  26. major equipment (installations)
    capital goods such as a large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings
  27. accessory equipment
    goods, such as portable toosl and office equipment, that are less expensive and shorter lived than major equipment
  28. raw materials
    unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables and fish
  29. componet parts
    either finished items ready for assembly or products that need very little processing before becomign part of some other product
  30. processed materials
    products used directly in manufacturing other products
  31. supplies
    consumable items that do not become part of the final product
  32. business services
    expense items that donot become part of a final product
Card Set:
MGKT Chapter 7
2011-07-01 08:15:14

Cards from the slides so far
Show Answers: