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MKT 201 > CH. 6 > Flashcards

CH. 6 Flashcards

1
Q

Business buyer behavior

A

The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others

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2
Q

Business buying process

A

The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands

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3
Q

Derived demand

A

Business demand that ultimately comes from (derives from) the demand for consumer goods

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4
Q

Supplier development

A

Systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials for use in making products or reselling them to others

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5
Q

Major types of buying situations

A

Straight rebuy, Modified rebuy, New task

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6
Q

Straight rebuy

A

A business buying situation in which the buyer routinely reorders something without any modifications

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7
Q

Modified rebuy

A

A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers

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8
Q

New task

A

A business buying situation in which the buyer purchases a product or service for the first time

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9
Q

Systems selling (or solutions selling)

A

Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation

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10
Q

Buying center

A

All the individuals and units that play a role in the purchase decision-making process

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11
Q

Participants in the Business Buying Process

A

Users, Influencers, Buyers, Deciders, Gatekeepers

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12
Q

Users

A

Members of the buying organization who will actually use the purchased product or service

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13
Q

Influencers

A

People in an organization’s buying center who affect the buying decision; they often help define specifications and also provide information for evaluating alternatives

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14
Q

Buyers

A

People in an organization’s buying center who make an actual purchase

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15
Q

Deciders

A

People in an organization’s buying center who have formal or informal power to select or approve the final suppliers

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16
Q

Gatekeepers

A

People in an organization’s buying center who control the flow of information to others

17
Q

Major Influences on Business Buyer Behavior

A

Environmental, Organizational, Interpersonal, Individual

18
Q

Environmental Influences on Business Buyer Behavior

A

The economy, Supply conditions, Technology, Politics/regulation, Competition, Culture and customs

19
Q

Organizational Influences on Business Buyer Behavior

A

Objectives, Strategies, Structure, Systems, Procedures

20
Q

Interpersonal Influences on Business Buyer Behavior

A

Influence, Expertise, Authority, Dynamics

21
Q

Individual Influences on Business Buyer Behavior

A

Age/education, Job position, Motives, Personality, Preferences, Buying style

22
Q

Stages of the business buying process behavior

A

1) Problem recognition
2) General need description
3) Product specification
4) Supplier search
5) Proposal solicitation
6) Supplier selection
7) Order-routine specification
8) Performance review

23
Q

Problem recognition

A

The first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or a service

24
Q

General need description

A

The stage in the business buying process in which a buyer describes the general characteristics and quantity of a needed item

25
Q

Product specification

A

The stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item

26
Q

Supplier search

A

The stage of the business buying process in which the buyer tries to find the best vendors

27
Q

Proposal solicitation

A

The stage of the business buying process in which the buyer invites qualified suppliers to submit proposals

28
Q

Supplier selection

A

The stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers

29
Q

Order-routine specification

A

The stage of the business buying process in which the buyer writes the final order with the chosen supplier(s), listing the technical specifications, quantity needed, expected time of delivery, return policies, and warranties

30
Q

Performance review

A

The stage of the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement

31
Q

Institutional market

A

Schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care

32
Q

E-procurement

A

purchasing through electronic connections between buyers and sellers - usually online

32
Q

E-procurement

A
33
Q

Government market

A

Governmental units—federal, state, and local—that purchase or rent goods and services for carrying out the main functions of government

MKT 201 (8 decks)

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