Chp 5 Business Behaviour Flashcards
Outsourcing
Contracting services previously done in house to another company
Organizational buying
The process firms use to establish what products they need and identifying a supplier
Derived demand
Products sold in business to business market that is driven by customer demands
Joint demand
When the production and marketing of one product is dependent on another
Vendor analysis
An evaluation of potential suppliers
Buying committee
A formal purchasing group involving member across the organization
Buying centre
An informal purchasing group in which individuals with a variety of roles influence the purchase
Partnership marketing
A process that involves cooperation and collaboration among members of a channel of distribution that do business with one another
Project teams
Groups of sales representatives formed to deal with customer needs more effectively
Reverse marketing
An effort by organizational buyers to build relationships that allow them to influence the specifications of suppliers goods and services to fit the buyers needs
E-procurement
An internet based business to business marketplace through which participants are able to purchase goods from one another
Problem recognition
Consumer discover a need
Need description
Identifies the general characteristics of the item it requires
Product description
Product specifications
Supplier search
Buyer looks for potential suppliers
