Chapter 5 Flashcards
the demand for industrial products and services is driven by, or derived from, demand for consumer products and services
derived demand
the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products and services that they can produce and market to others
business-to-business marketing
those manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy products and services for their own use or for resale
organizational buyers
3 markets that organizational buyers are divided into:
industrial, reseller, and government
Provides common industry definitions for Canada, Mexico, and US
North American Industry Classification System (NAICS)
an industrial buying practice in which two organizations agree to purchase each other’s products and services
reciprocity
the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers
organizational buying behavior
