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Essentials of Marketing
Chapter 7
15
Marketing
Undergraduate 4
10/09/2010

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Term
business and organizational customers
Definition
any buyers who buy for resale or to produce other goods and services
Term
1. producers of goods and services
2. intermediaries
3. government units
4. nonprofit organizations
Definition
types of organizational customers
Term
purchasing managers
Definition
buying specialists for their employers. in large organizations, they usually specialize by product area and are real experts
Term
multiple buying influence
Definition
when several people play a part in making a purchase decision. (users, influencers, buyers, deciders, gatekeepers)
Term
buying center
Definition
all the people who participate in or influence a purchase
Term
vendor analysis
Definition
a formal rating of suppliers on all relevant areas of performance
Term
new-task buying
Definition
when a customer organization has a new need and wants a great deal of information
Term
straight rebuy
Definition
a routine repurchase that may have been made many times before
Term
modified rebuy
Definition
the in-between process where some review of the buying situation is done
Term
competitive bid
Definition
the terms of sale offered by the supplier in response to the purchase specifications posted by a buyer
Term
just-in-time delivery
Definition
reliably getting products there just before the customer needs them
Term
negotiated contract buying
Definition
agreeing to contracts that allow for changes in the purchase arrangements
Term
outsource
Definition
contract with an outside firm to produce goods or services rather than to produce them internally
Term
open to buy
Definition
the buyers have budgeted funds that can be spent during the current period
Term
resident buyers
Definition
independent buying agents who work in central markets
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