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Marketing Essentials Ch. 23
Terms in this set (15)
Buyers who purchase goods for business purposes, usually in much greater quantities than the average consumer buys.
Bill of Materials
The total of all the materials necessary to make one individual good.
Wholesale and retail buyers
Purchase goods for resale; they forecast customers' needs and buy the necessary products.
six-month merchandise plan
The budget that estimates planned purchases for a six-month period.
the retail-dollar purchase figure a firm needs to achieve its sales and inventory projections for each month. (PS + EOM stock + R) - BOM stock = P
is the amount of money left for buying goods after all purchases received and on order have been considered. It is calculated this way:
P - (goods received + goods ordered) = OTB
Buying for all branches in a chain store operation done in a central location (company headquarters).
Localchain store managers are authorized to make special purchases for their individual stores.
Customer requests for items that are not carried in the store.
the buyer has had experience buying the good or service, but some aspect of the purchase changes.
a purchase is made for the first time.
the buyer routinely orders the goods and services purchased from the same vendor(s) in the past.
in which the supplier owns the goods until the wholesaler or retailer sells them.
in which the buyer pays for all goods but is later reimbursed for unsold goods
An auction where companies post what they want to buy and suppliers bid for the contract.
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