Chapter 6
Chapter 6
Chapter 6
Chapter 6
Chapter 6
100
What is Business Marketing by definition?
The marketing of good and services to individuals and organizations for purposes other than personal consumption.
100
What are (2) of 4 major categories of business customers?
Resellers - wholesalers (takes ownership, agents don’t) or retailers, they buy finished good to resell at a profit.
100
What are the Three Digit Industry Sub-sector?
Publishing industries ( except internet ) Motion Picture and sound recording industries Broadcasting( except internet )
100
What is Business Market vs Consumer Market for: "# of CUSTOMERS"
Business Market - Fewer Consumer Market - Many
100
What is reciprocity?
When two businesses benefit from one another, a “you scratch my back and I’ll scratch yours” mentality.
200
What is the key to business marketing?
WHO is buying and WHAT is the products intended use.
200
What are (3) of 4 major categories of business customers?
Governments - examples are federal, state and local. This is the largest single market for goods and services in the world.
200
What are the 4 criteria of good segmentation scheme?
sustainability identifiability/measurability accessibility responsiveness
200
What is Business Market vs Consumer Market for: "DISTRIBUTION"
Business Market - More Direct Consumer Market - More Indirect
200
What are the various types of business products?
Major Equipment - computers, airplanes and buildings Accessory Equipment - personal computers, power tools Raw Materials - minerals, timber, wheat,corn and fish Component Parts - finished items ready for assembly Processed Materials - sheet metals... Supplies - supplies used for maintenance repair Business Services - janitorial, advertising, legal and marketing research
300
What is a Japanese term that means a network of interlocking corporate affiliates?
What is a Keiretsu?
300
What are (4) of 4 major categories of business customers?
Institutions - (a.k.a. non-profit) examples of these are schools, churches, civic clubs, hospitals, unions, foundations, colleges, fraternal groups and nonbusiness organizations.
300
What is cannibalization?
The negative impact of a company's new product on the sales performance of its existing and related products
300
What is Business Market vs Consumer Market for: "NEGOTIATIONS"
Business Market - More Complex Consumer Market - Simpler
300
Who works at the buying center?
All those people in an organization who become involved in the purchase decision, it’s a formal and larger organization.
400
What strategic relationships are highly integrated?
Companies have executives sitting on each other’s boards. Maintain dedicated trade efforts. Joint development, finance and marketing.
400
What is the largest business customer
The government
400
What is synergy?
The increased customer value achieved through performing organizational functions like marketing or manufacturing more efficiently.
400
What is Business Market vs Consumer Market for: "RECIPROCITY"
Business Market - Yes Consumer Market - No
400
In the buying center the initiator is who?
The person who suggests the purchase, the one who has the problem
500
What are (1) of 4 major categories of business customers?
Producers - OEMs: Produce finished good and services
500
What does NAICS stand for?
North American Industry Classification System
500
What is Business Market vs Consumer Market for: "VOLUME"
Business Market - Larger Consumer Market - Smaller
500
What is Derived Demand?
Demand for business products results from demand for consumer products. there is no B2B without consumer demand.
500
Who is the person that helps define the specifications and provide info for evaluating options
The Influencer aka evaluator
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