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Marketing Chap 10
Marketing Chap 10
12
Marketing
Undergraduate 1
02/24/2007

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Term
business to business (B2B) marketing
Definition
Purchases by organizations of goods and services to support production of other goods and services, for use in daily company operations, or for resale
Term
derived demand
Definition
Demand for a business product resulting from demand for a consumer product of which it is a part.
Term
commercial market
Definition
Individuals and firms that acquire products (goods and services) to support production of other products whether directly or indirectly.
Term
joint demand
Definition
Demand for one business product that depends on the demand for a second business product that is required to use the first
Term
customer-based segmentation
Definition
Dividing a business to business market into homogeneous groups based on buyers’ product specifications
Term
reciprocity
Definition
Policy of extending purchasing preference to suppliers who are also customers
Term
North American Industrial Classification System (NAICS)
Definition
Replacement for the Standard Industrial Classification (SIC) now used by NAFTA countries to categorize the business market into detailed segments
Term
value analysis
Definition
Systematic study of the components of a purchase to determine the most cost effective way to acquire the needed goods or services.
Term
vendor analysis
Definition
Assessment of supplier performance in areas such as price, back orders, timeliness of deliveries, and attention to special requests.
Term
end-use application segmentation
Definition
Segmentation of a B2B market based on how industrial purchasers will use the product.
Term
buying center
Definition
Participants in an organizational buying action
Term
global sourcing
Definition
Contracting to purchase goods and services from suppliers worldwide
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