Upgrade to remove ads
MARK 3321 Chapter 7 - Business Marketing
Book used is 7th Ed MKTG Lamb/Hair/McDaniel. Spring 2014 UT Arlington with Dr. Elten Briggs
Terms in this set (57)
A network of interlocking corporate affiliates
What is business marketing?
The marketing of goods and services to individuals and organizations for purposes other than personal consumption
Goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment.
Expense items that do not become part of a final product
Business-to-business electronic commerce (B2B or B2B e-commerce)
The use of the internet to facilitate the exchange of goods, services, and information between organizations
Business-to-business online exchange
An electronic trading floor that provides companies with integrated links to their customers and suppliers
All those people in an organization who become involved in the purchase decision
Either finished items ready for assembly or products that need very little processing before becoming part of some other product
The demand for business products results from demand for consumer products
The elimination of intermediaries such as wholesalers or distributors from a marketing channel
The demand for two or more items used together in a final product. Demand for one item affects all.
Capital goods such as large expensive machines, mainframe computers, generators, airplanes and buildings
A situation in which the purchaser wants some change in the original good or service
Multiplier effect (accelerator principle)
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
A situation requiring the purchase of a product for the first time
North American Industry Classification System (NAICS)
A detailed numbering system developed by the US, Canada and Mexico to classify North American business establishments by their main production processes
Original Equipment Manufacturers (OEMs)
Individuals and organizations that buy business goods and incorporate them into the products the produce for eventual sale to other producers or to consumers.
Products used directly in manufacturing other products
Unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, fruits and vegetable and fish
A practice whereby business purchasers choose to buy from their own customers
The reintroduction of an intermediary between producers and users
A firm's belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely.
A measure of a website's effectiveness; calculated by multiplying the frequency of visits by the duration of a visit by the number of pages viewed during each visit (site reach)
A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers
Strategic alliance (strategic partnership)
A cooperative agreement between business firms
Consumable items that do not become part of the final product
The condition that exists when one part has confidence in an exchange partner's reliability and integrity
Which of the following is not an example of business marketing?
A. selling chemical supplies to a photo developing chain
B. selling residential cable TV packages (this one)
C. selling paper to the local school district
D. selling lumber to a furniture manufacturer
The main difference between a business product and a consumer product is:
According to the ________ concept, customers who have not bought a certain product in quite some time are unlikely to do so in the future.
Which of the following is NOT an example of a type of strategic alliance?
B. joint venture
C. corporate takeover (this one)
D. R & D consortium
Two web-design firms recently merged, in spite of the fact that managers in both firms had doubts about the importance and benefits of the merger. This relationship lacks:
Which of the following is an example of a producer?
A. Internet service provider
B. home builder (this one)
C. customer service center
Which of the following is NOT an example of a reseller?
A. gas station
B. magazine stand
D. community college (this one)
The demand that IKEA has for lumber depends on consumer demand for its furniture products. This is an example of:
In many cases, an increase in the price of a business product will cause consumer demand to:
The consumer demand for HDMI cables is directly related to consumer demand for HD TVs. This is an example of:
A law firm buys its paper and office supplies from a Company X, which in turn hires the law firm to provide legal counsel. This is an example of:
Sugar, leather and iron ore are all examples of:
Hard drives, processors, and USB ports are all examples of
An accounting firm purchases an entirely new telephone system to replace its current outdated system. This is an example of which buying situation?
A middle manager in the human resources division is assigned to make recommendations on which software package the firm should buy. This role is known as:
What are the four major categories of business customers?
Often called OEMs. They use purchased goods and services to produce other products, to incorporate into other products, or to facilitate the daily operations of the organization. Examples of producers include construction, manufacturing, transportation, finance, real estate, and food service firms.
Includes retail and wholesale businesses that buy finished goods and resell them for a profit.
Includes thousands of federal, state, and local buying units. They make up what may be the largest single market for goods and services in the world
These groups seek to achieve goals other than the standard business goals of profit, market share, and return on investment. This segment includes schools, hospitals, colleges and universities, churches, labor unions, fraternal organizations, civic clubs, foundations, and other so-called nonbusiness organizations
Demand for business products is more volatile than for consumer products
A change in price will not significantly affect the demand for the product
The person who suggests the purchase in the buying center
Help define specifications and provide information for evaluating options in the buying center
Group members who regulate the flow of information, often the purchasing agent of the buying center
The person with the power to choose or approve the selection in the buying center.
The person who negotiates the purchases in the buying center
Members of the organization who actually use the product in the buying center.
What criteria do business buyers use to evaluate products and suppliers?
Business demand is:
Derived, inelastic, joint, and fluctuating
THIS SET IS OFTEN IN FOLDERS WITH...
MARK 3321 Chapter 8 - Segmenting and Targeting Mar…
MARK 3321 Chapter 6 - Consumer Decision Making
MARK 3321 Chapter 9 - Decision Support Systems and…
MARK 3321 - Chapter 12 - Services and Nonprofit Or…
YOU MIGHT ALSO LIKE...
MKGT - Ch 07 - Business Marketing
MKT 3305 Chapter 7 Terms
Chapter 7: Business Marketing
mgmt 4 Lamb/Hair/McDaniel Chapter 7
OTHER SETS BY THIS CREATOR
Chapter 4 - Tools and Techniques for Quality Impro…
Chapter 3 - Tools and Techniques for Quality Desig…
Chapter 2 - Frameworks for Quality and Performance…
Chapter 1 Introduction to Quality and Performance…