Term
| Participators in Business to Business Marketing |
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Definition
Manufacturers or Producers
Resellers
o Resellers are marketing intermediaries that resell manufactured products without significantly altering them
o Ex. Wholesalers and distributers
Institutions
o Ex. Hospitals, educational org, religious org, etc
Government
o One of the largest purchasers of goods and services
o U.S. gov spends about $2.8 trillion annually |
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Term
| Business to Business Buying Process Elements (in order) |
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Definition
Need recognition
Product specification
RFP Process (request for proposals)
Proposal analysis, vendor negotiations, selection
Order specification
Vendor performance assessment using metrics |
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Term
| Elements in a Buying Center |
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Definition
Initiator
Influencer
Decider
Buyer
User
Gatekeeper |
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Term
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Definition
| One person makes decision |
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Term
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Definition
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Term
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Definition
| One person solicits input from others, but ultimately makes the decision |
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Term
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Definition
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Term
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Definition
Consumer buys product for first time
All six steps in buying process will be considered
Quite involved process |
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Term
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Definition
o Buyer has purchases a similar product in the past, but has decided to change some specifications such as price, quality level, customer service level, options, or so forth
o Current vendors have an advantage to get the sale |
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Term
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Definition
o Buyer simply buys additional units of products that have been previously purchased
o Most B2B purchases |
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Term
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Definition
| The linkage between consumers’ demand for a company’s output and its purchase of necessary inputs to manufacture or assemble that particular product |
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