LO1 & LO2 What is Business Marketing & Business Marketing on the Internet
LO3 & LO4 Relationship Marketing and Strategic Alliances & Major Categories of Business Customers
LO5 & LO6 The North American Industry Classification System & Business versus Consumer Markets
LO7 Types of Business Products
LO8 Business Buying Behavior
100
The marketing of goods and services to individuals and organizations for purpose other than personal consumption.
What is business marketing?
100
The condition that exists when one party has confidence in an exchange partner’s reliability and integrity.
What is trust?
100
The demand for two or more items used together in a final product.
What is joint demand?
100
Consumable items that do not become part of the final product.
What is supplies?
100
All those persons in an organization who become involved in the purchase decision.
What is a buying center?
200
The use of the internet to facilitate activities between organizations.
What is business-to-business electronic commerce?
200
A cooperative agreement between business firms.
What is Strategic Alliance?
200
The demand for business products.
What is derived demand?
200
Unprocessed extractive or agricultural products, such as mineral ore, timber, wheat, corn, fruits, vegetables, and fish.
What is raw materials?
200
Quality, Service, and Price
What is the three important evaluative criteria?
300
A measure of a Web site’s effectiveness; calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewed during each visit (site reach).
What is stickiness?
300
Individuals and organizations that buy business goods and incorporate them into the products that they produce for eventual sale to other producers or to consumers.
What is original equipment manufacturers (OEMs)?
300
The practice of business purchasers choosing to buy from their own customers.
What is reciprocity?
300
Either finished items ready for assembly or products that need very little processing before becoming part of some other product.
What is component parts?
300
A situation requiring the purchase of a product for the first time.
What is a new buy?
400
The elimination of intermediaries such as wholesalers or distributors from a marketing channel.
What is disintermediation?
400
A firm’s belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely.
What is relationship commitment?
400
A detailed numbering system developed by the United States, Canada, and Mexico to classify North American business establishments by their main production processes.
What is North American Industry Classification System?
400
Products used directly in manufacturing other products.
What is processed materials?
400
A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers.
What is a straight rebuy?
500
A single customer can account for a huge volume of purchases in this market.
What is a business market?
500
A network of interlocking corporate affiliates.
What is keiretsu?
500
Phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.
What is multiplier effect?
500
Expense items that do not become part of a final product.
What is business services?
500
A situation where the purchaser wants some change in the original good or service.