Organizational Buying: Terms, Concepts, and Decision-Making Processes, Quizzes of Marketing Management

Download Organizational Buying: Terms, Concepts, and Decision-Making Processes and more Quizzes Marketing Management in PDF only on Docsity! TERM 1 organizational buyers DEFINITION 1 organizations and government agenicies that buy goods and services for their own use or for resale larger market in $ than consumer markets TERM 2 NAICS DEFINITION 2 North american industry classification system classifies organizational buyers into inudstry segments TERM 3 types of organizational markets DEFINITION 3 industrial markets resellers goverment TERM 4 iNDUSTRIAL MARKETS DEFINITION 4 reprocess a product or service they buy before selling it to the next buyer TERM 5 Resellers DEFINITION 5 Resel without any reprocessing TERM 6 Government DEFINITION 6 federal state local agencies that buy for constituents TERM 7 orginizational vs. Consumer buying DEFINITION 7 Derived demand hard for marketer to stimulate demand inelastic fewer, larger, more geographically concentarted buyers direct channels personal selling more important TERM 8 organizational vs. consumer buyign decision process DEFINITION 8 more formal more negotiations more objective criteria explicit value analysis TERM 9 Organizational vs. consumer buying decision makers DEFINITION 9 professionally trained buyers more complex unit still people TERM 10 organizational vs. consumer buying relationship[s are more important DEFINITION 10 Opportunities to increase efficiency, effectiveness risks due to greate investment higehr switching costs