11 terms

Marketing 300- Final Exam Ch. 6

Business Marketing (B2B)
________ is the marketing of goods and services to companies, governements, or non-for-profit organizations for use in the creation of goods and services that they can produce and market to others.
Organizational Buyers
_______ are those manufacturers, wholesalers, retailers, and governement agencies that buy goods and services for their own use or for resale.
INclude all buyers in a nation except ultimate consumer.
Ex: Organizations buy computers and telephone services for their own use.
Manufacturing Firms
_______ buy raw materials and parts that they reprocess into finished goods that they sell
Service Firms
______ sell diverse services such as legal advice, auto repair, and dry cleaning. Along with finance, insurance, and real estate businesses, and transportation, communication, public utility firms, and not-for-profit organizations, _______ represent about 75% of all industrial firms.
_______ resell the goods they buy without reprocessing them.
Also a "reseller," ________ buy physical products and resell them again without any reprocessing.
Government Markets
________ are the federal, state, and local agencies that buy goods and servieces for the constituents they serve
Characteristics of Organizational Buying
1. Market Characterisitcs
2. Product or Service Characteristics
3. Buying Process Characteristics
4. Marketing Mix Characterisitcs
Organizational Buying Objectives
Increasing profits, Efficiency, Woman/Minority Suppliers/Vendors, Enviornmental Initiatives
Supplier Development
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.
Buy Classes
The Three types of buying situations:
1. New Buy - organization is a first time buyer of the product or srevice, involves greater potential risk.
2. Straight Rebuy - the buyer or purchasing manager reorders an existing product or service from the list of acceptable suppliers, probably without even checking with users or influencers
3. Modified Rebuy - The users, influencers, or deciders in the buying center want to change the product specifications, price, delivery, schedule, or supplier.