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MKTG 3310 - Chapter 6
Terms in this set (22)
The 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
Those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
Markets for goods and services bought by businesses to be used in the production process of other products.
Wholesalers and retailers that buy physical products and resell them again without any reprocessing
Federal, state, county, or local governments that buy goods and services to support their internal operations and provide products to their constituencies
Global Organization Markets
Industrial, reseller and government markets on a global scale that involve exporting with a focus on organizational buyers, not ultimate consumers.
North American Industry Classification System (NAICS)
Provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA); NAICS replaces the Standard Industrial Classification (SIC) system, which was in place for over 50 years in three NAFTA countries. SIC neither permitted comparability across countries nor accurately measured new or emerging industries.
Demand for industrial products and services driven by demand for consumer products and services.
Organizational Buying Criteria
Objective attributes of the supplier's products and services and the capabilities of the supplier itself.
Price, ability to meet quality specifications required for the item, ability to meet required delivery schedules, technical capability, warranties and claim policies in the event of poor performance, past performance on previous contracts and production facilitates and capacity.
A family of generic standards for quality management systems established by the International Organization for Standardization
Involves the deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers.
An industrial buying practice in which two organizations agree to purchase each other's products and services.
Exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer.
The people or group of people within and organization who share common goals, risks and knowledge important to a purchase decision.
Users - are the people within the organization who actually use the product or service
Influencers - affect the buying decision, usually by helping define the specifications for what is bought.
Buyers - have the formal authority/responsibility to select the supplier and negotiate the terms of the contract
Deciders - have the formal/informal power to select/approve the supplier that receives the contract
Gatekeepers - control the flow of information within the buying center
New buy - First-time buyer of product or service involving greatest potential risk
Straight rebuy - buyer or purchasing manager reorders an existing product or service from the list of acceptable suppliers (order is exactly the same as previous order - low risk)
Modified rebuy - users, influencers or deciders in the buying center want to change the product/purchase order in some way (product specification, price, delivery, schedule or supplier)
Organizational Buying Behavior
Decision-making process that organizations use to establish the need for products and services and identify, evaluate and choose among alternative brands and suppliers.
Evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself.
Systematic appraisal of the design, quality and performance of a product to reduce purchasing costs.
List of firms believed to be qualified to supply a given item.
Online trading communities that bring buyer and supplier organizations together.
Seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.
Buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other.
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