Chapter 6: Business Market Flashcards Preview

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Flashcards in Chapter 6: Business Market Deck (14):
1

Business market (1)

- sold for any use other than consumption

2

Business market characteristics (5)

- short distribution channel
- derived demand (inelastic)
- unique marketing strategies
- personal/direct selling
- buyer and seller relationship (JIT)

3

The organization buying process (3)

- purchase type influence (need)
- structural influence (analysis)
- behaviour influence (post purchase)

4

Purchase type comparison (4)

B2C
- high involvement
significant difference: complexity
limited difference: dissonance reducing
- low involvement
significant difference:
variety seeking
limited difference: habitual

B2b
- high involvement
modified rebuy
new task buy
- low involvement
straight rebuy

5

Structural influence comparison (7)

B2C:
- influencer, initiator, decider, user, buyer
B2B:
- influencer, initiator, decider, user, buyer, gatekeeper, approver

6

Buying process comparison (13)

B2C:
1. recognize problem
2. information search
3. evaluation of alternative
4. purchase decision
5. post purchase behaviour

B2B:
1. recognize problem
2. need description
3. product specification
4. supplier search
5. proposal solicitation
6. supplier selection
7. order specification
8. product/vendor performance

7

Behaviour influencer comparison (4)

B2C
- psychological, personal social/cultural, situational

B2B
- situation
- buying centre (fragment, vertical/horizontal, formal)
- interpersonal

8

Nest segmentation approach (3)

Macro
- organization demographic
- operating variables

Intermediate
- purchasing approach
- situational factor

Micro
- personal characteristic

9

Target market development (3)

- identify problem
- market
- relationship development

10

Relationship development (3)

- transactional: purchase
- functional: buyer and seller
- strategic partnership commitment

11

The value of relationship (4)

- acquisition, profit, revenue, cost

12

Sales representation- selling situation (5)

- response selling
- trade selling
- missionary selling
- technical selling
- creative selling

13

sales representation - selling process (6)

- qualifying and screening
- research
- introduction
- communicatoin
- clarification
- closing
- follow up

14

Extemporaneous (1)

- planned in advance but delivered spontaneous