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29 Cards in this Set
- Front
- Back
Business-to-Business Marketing (B2B)
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The marketing of those goods or services that business and organizational customers need to produce other goods and services for resale or to support their operations.
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B2B Markets
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The group of customers that include manufacturers, wholesalers, retailers, and other organizations.
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Organizational Markets
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Another name for B2B markets.
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Differences in B2B Markets:
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-Multiple Buyers
-Number of Customers -Size of Purchases -Geographic Concentration |
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B2B Demand
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-Derived Demand
-Inelastic Demand -Fluctuation Demand -Joint Demand |
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Derived Demand
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Demand for organizational or business products that flows from demand for consumer goods and services.
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Inelastic Demand
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Demand does not change with a change in price.
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Fluctuating Demand
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Small changes in consumer demand can lead to big changes in business demand. Business customers tend to buy big products infrequently.
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Joint Demand
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Demand for two or more goods that are used together to create a product.
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Producers
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The individuals or organizations that purchase products to use in the production of other goods or services.
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Resellers
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Individuals or organizations that purchase finished goods to resale, leas or rent to others to make a profit and to maintain their business operations.
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Government Markets
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The biggest organizational market. The federal, state, and local governments that buy goods and services to carry out public services and support their operations.
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Not-for-Profit Organizations
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Organizations with charitable, educational, community, or other service goals that buy goods and service to support their functions and to attract and serve their members.
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North America Industry Classification System (NAICS)
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A coding system used by member of the NAFTA to classify firms into detailed categories according to their business activities.
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Buy Class
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One of the three business buying situations in that characterize the degree of time and effort to make a decision.
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Straight Rebuy
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A buying situation in which business buyers make routine purchases that require minimal time and effort. Sometimes automated on computers.
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Modified Rebuy
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A buying situation that involves some change and limited decision making. Buy the same product, but may come from new manufacturer or supplier.
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New-task Buy
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A new B2B purchase that is complex or risky and that requires extensive decision making.
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Buying Center
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Not a physical location, not the purchasing department. A cross-functional group of people who participate in a purchasing decision.
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Product Specifications
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A written description of the quality, size, weight, and so forth required of a product purchase.
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Just in Time (JIT)
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Inventory MGT and purchasing processes that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries arrive only when needed.
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Single Sourcing
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The business practice of buying a particular product from only one supplier.
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Multiple Sourcing
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The business practice of buying a specific product from many suppliers.
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Reciprocity
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A trading partnership in which two firms agree to buy from one another.
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Outsourcing
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The business buying process of obtaining outside vendors to provide goods or services that otherwise might be supplied in-house.
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Reverse Marketing
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A business practice in which a buyer first attempts to identify suppliers who will produce products according to the buyer firm's specifications.
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B2B e-commerce
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Internet exchanges between two or more business organizations.
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Extranet
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A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization.
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Private Exchanges
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Systems that link an invited group of suppliers and partners over the web.
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