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MKC1Collins

chapter 4 - Business Buying Behavior

QuestionAnswer
Derived demand Demand that springs from, or is derived from, a secondary source other than the primary buyer of the product. Ex: consumers.
Fluctuating demand Demand that fluctuates sharply in response to a change in consumer demand.
Joint demand When the demand for one product increases the demand for another.
Producers companies that purchase goods and services that they transform into other products. They include both manufacturers and service providers.Ex: GM, McD's
Resellers companies that sell goods and services produced by other firms without materially changing them. They include wholesalers, brokers, and retailers. Ex: Walmart
Business-to-government (B2G) markets Markets in which local, state, and federal govt's by products.
Institutional markets Nonprofit orgs such as the American Red Cross, churches, hospitals, private colleges and civic clubs.
Buying centers groups of people within organizations who make purchasing decisions.
Users people and groups within the organization that actually use the product.
Influencers people who may or may not use the product but have experience or expertise that can help improve the buying decision.
Gatekeepers people who will decide if and when you get access to members of the buying center. Ex: people at Walmart who allow access to sell to Walmart.
Decider the person who makes the final purchasing decision. Often but no necessarily the purchasing manager.
requests for proposal (RFPs) An invitation to submit a bid to supply the good or service.
Straight rebuy When a purchaser buys the same product in the same quantities from the same vendor.
New-buy(selling) When a firm purchases a product for the first time.
Modified rebuy occurs when a company wants to buy the same type of product it has in the past but make some modifications to it(ex: qty, delivery, etc).
e-commerce commerce conducted electronically, such as over the Internet.
sell-side (e-commerce) site is a site in which a single seller sells products to many different buyers.
buy-side (e-commerce) site is one in which a business buys products from multiple sellers that go there to do business with the firm.
B2B auctions (aka reverse auction) Web-based auctions that occur between businesses. The auctions can be either sell side or buy side. Ex: AssetAuctions.com where surplus industrial equipment is sold.Roles of buyers/sellers reversed.
Created by: bobcollins
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