Glossary of Organizational Buying and Business Marketing Terms, Quizzes of Marketing Management

Download Glossary of Organizational Buying and Business Marketing Terms and more Quizzes Marketing Management in PDF only on Docsity! TERM 1 Bidder's List DEFINITION 1 A list of firms believed to be qualified to supply a given item. TERM 2 Organizational Buying Behavior DEFINITION 2 The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and supplies. TERM 3 Business Marketing DEFINITION 3 The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others. TERM 4 Organizational Buyers DEFINITION 4 Those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or resale. TERM 5 Buying Center DEFINITION 5 The group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision. TERM 6 Derived Demand DEFINITION 6 The demand for industrial products and services is driven by, or derived from, demand for consumer products and services. TERM 7 ISO 9000 DEFINITION 7 Standards for registration and certification of manufacturer's quality management and assurance system based on an on- site audit of practices and procedures developed by the International Standards Organization (ISO). TERM 8 Make-Buy Decision DEFINITION 8 An evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself. TERM 9 North American Industry Classification System (NAICS) DEFINITION 9 Provides common industry definitions for Canada, Mexico, and the US which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA). TERM 10 Traditional Auction DEFINITION 10 In an e-marketplace, it is an online auction in which a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.