Chapter 7
Order by
21 terms
Terms | Definitions |
|---|---|
 Business Marketing | marketing of goods and services to individuals and organizations for purposes other than personal consumption |
| Business Market Relationships | long term relationships |
| Business Market Customers | 1. Producers 2. Resellers 3. Governments 4. Institutions |
| Producers | profit-oriented; use purchased goods and services to incorporate other products |
| Resellers | retail and wholesale businesses; buy finished goods and resell for a profit |
| Governments | federal, state, and local buying units; contracts for government purchases put out for bid |
| Institutions | schools, hospitals, colleges, churches, etc. |
| Derived Demand | the demand for business products |
| Business Market Products | major equipment, accessory equipment, raw materials, component parts, processed materials, supplies, business services |
| Major Equipment | capital goods-machines, mainframe computers, blast furnaces, generators, airplanes, and buildings |
| Accessory Equipment | less expensive than major equipment; portable drills, power tools, microcomputers, fax machines |
| Raw Materials | unprocessed, extractive, or agricultural products; mine ore, timber, etc. |
| Component Parts | finished items ready for assembly or products that need very little processing before becoming part of some other product |
| Processed Materials | products used directly in manufacturing other products |
| Supplies | consumable items that do not become part of the final product-lubricants, detergent, etc |
| Business Services | expense items that do not become part of the final product (janitorial services, advertising, etc) |
| Buying Business Behaviors | 1. Buying Centers 2. Evaluative Criteria 3. Buying Situations 4. Business Ethics 5. Customer Service |
| Buying Centers | members of organization-part of purchase decision |
| Evaluative Criteria | quality, service, price |
| Buying Situations | new buy, modified rebuy, straight rebuy |
| Business Ethics | standard behavior by which conduct is judged |
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