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11 Cards in this Set
- Front
- Back
Which are the major types of buying situations? |
Straight rebuy - routine purchase decision such as reorder without any modification |
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What is supplier development? |
Customer companies are practicing systematic development of networks of supplier-partners to ensure an appropriate and dependable supply - that they will use when they make their own products |
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What is the business buying process? |
Business buyers determine which products and services are needed to purchase, and then find, evaluate and choose among alternative brands |
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Who are the participants in the business buying process? |
Users, influencers, buyers, deciders, gatekeepers and procurement personnel |
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Which are the major influences on business buyers? |
Economic factors: price, service |
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Which are the environmental factors? |
Demand for product, economic outlook, cost of money, supply of materials, technology, culture, politics and competition |
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Which are the organisational influences? |
Objectives |
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Which are the individual factors? |
Motives, perceptions, preferences, age, income, education and attitude towards risk |
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What are the steps in the buying process? |
Problem recognition > general need description > product specification > supplier search > proposal solicitation > supplier selection > order-routine specification > performance review |
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Tell me more about the buying process |
The problem recognition occurs when someone in the company recognises a problem or need. There are two types: internal stimuli and external stimuli. Internal: the need for a new product or production equipment. External: the idea from a trade show or advertising. |
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How do business markets differ from consumer markets? |
macro forces, stimuli exist in both of them. The decision making processes are different. Fewer in number, but amounts they buy is higher. |