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are those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
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| are organizational buyers that in some way reprocesses a product or service they buy before selling it again to the next buyer. |
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| are wholesalers and retailers that buy physical products and resell them again without any processing. |
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-the federal, state, and local agencies that buy goods and services for the constituents they serve. |
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| means the demand
for industrial products and services is driven by, or derived from, demand for consumer products and services. |
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| Organizational Buying Criteria |
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are
the objective attributes of the supplier’s products and services and the capabilities of the supplier itself. |
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is an industrial buying practice in which two organizations
agree to purchase each other’s products and services. |
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exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer. |
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is the group of people
in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision. |
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are online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services. |
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is an online auction in which a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other. |
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is an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other. |
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| is the practice of using barter rather than money for making global sales. |
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is the monetary value of all goods and services produced in a country during one year. |
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| is the difference between the monetary value of a nation’s exports and imports. |
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is the practice of shielding one or more industries within a country’s economy from foreign competition through the use of tariffs or quotas. |
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are a government tax on goods
or services entering a country, primarily serving to raise prices on imports. |
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is a restriction placed on the amount of a product allowed to enter
or leave a country. |
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| World Trade Organization (WTO) |
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is a permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions. |
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is a society’s personally or socially preferable modes of conduct
or states of existence that tend to persist over time. |
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are what is considered normal and expected about the way people do things in a specific country. |
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the price of one country’s currency expressed in terms of another country’s currency. |
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is when a foreign country and a local firm invest together to create a local business. |
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entails a domestic firm actually investing in and owning a foreign subsidiary or division. |
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when a firm sells a product in a foreign country below its domestic price or below its actual cost. |
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is the process
of defining a marketing problem and opportunity, systematically collecting
and analyzing information, and recommending actions. |
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the relatively homogeneous groups of prospective buyers that result from the market segmentation process. |
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the quantity consumed or patronage (store visits) during a specific period of time. |
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a concept that suggests 80 percent of a firm’s sales are obtained from 20 percent of its customers. |
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a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands relative to its own and then take marketing actions. |
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refers to the place an offering occupies in consumers’ minds on important attributes relative to competitive products. |
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involves
changing the place an offering
occupies in a consumer’s mind
relative to competitive products. |
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Roles in an Organizational Buying Center |
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Definition
1. Users 2. Influencers 3. Buyers 4. Deciders 5. Gatekeepers (decide what kind and how much info. is available to other parties in center) |
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| 3 types of Organizational Purchases |
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1. Straight Rebuy 2. Modified Rebuy 3. New Buy |
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| 2 Stages of Economic Development |
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1.DevelopED countries 2. DevelopING countries |
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| -allowing trademarks to be used by other companies for a fee |
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| allowing foreign factories to make your products with your name |
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| -Us parts, but assembled and sold in foreign country with the US name |
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a positive balance of trade -exports>imports |
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-a negative balance of trade -imports>exports |
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| 5 Steps of Marketing Research |
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1. Define the problem 2. Develop the Research Plan 3. Collect relevant information by specifying 4. develop findings 5. Take marketing actions |
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-gather in depth info. about something -small and non-random sample -always start with this |
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-use large and random sample -used to make conclusions about whole population |
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1. time (method of collection) 2. Monetary (budget, pay ppl, $ for supplies) |
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-data not collected for the project -data that already exists (ex:sales rev data) |
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-data doesn't exist before the project -data collected specifically for your project |
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| -data collected within an organization |
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any info. outside of the organization -(ex: census bureau, demographics, data from marketing research company) |
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| Observational Data (primary) |
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| -no communication with participants |
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| Questionnaire Data (primary) |
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-communication with participants -with oral (focus groups) -or written (survey) |
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Direct Observational Data |
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-researcher is physically present -(ex: who makes the decision of what type of cereal to buy in store) |
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| Indirect Observational Data |
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-researcher is not present -(ex: consumers scan their items at home and info is transmitted to researcher) |
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| 3 Segmentation Strategies |
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1. One product, multiple segments (nokia) 2. Multiple Products, Multiple segments (P&G) 3. Mass Customization (Dell) |
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Criteria to use in picking target segments |
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1. market size (in segment and have ABILITY to buy) 2. expected growth (if market has a future, see trends) 3. competitive position (other comp with same tarkets) 4. cost of reaching segment (paying distributers, advertising and transporting abroad) |
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| 2 product positioning approaches |
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1. Head-to-Head Positioning (compete in same way, same market and products) 2. Differentiation (make yourself different, target diff. people, better environment or quality) |
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