Marketing 301 Chapter 6 vocab/quizzes
Customer-base segmentation
a business to business market into homogeneous groups based on buyer's product speficiations
Geographic location is considered a demographic basis for segmenting the business market
false
In a B2B market, relationships between for-profit and not-for-profit organizations are not as important as those between two commercial organizations
false
India has emerged as the preferred destination for production offshoring, while China has emerge as the dominant player in services offshoring
false
The biggest distinction between B2B marketing and consumer marketing is the lack of advertising and visibility in the marketplace the company services.
false
outsourcing
using outside vendors to provide goods and services formerly produced in-house
Customer relationship management
Combination of strategies and tools that drives relationship programs, reorienting the entire organizations to a concentrated focus on satisfying customers
Due to the complexity of the buying process and the sheer volume of transactions involved, the distribution channels in the B2B marketplace tend to be longer than those in the consumer market
False
Personal selling plays a much bigger role in consumer markets than in business markets.
False
Commercial Market
Individuals and firms that acquire products to support, directly or indirectly, production of other goods and services.
Resellers
Marketing intermediaries that operate in the trade sector
A firm has decided to purchase hybride delivery vehicles in response to rising gasoline prices. Which step in the business buying process does this illustrate?
Recognizing a problem or opportunity
End-use application
Segmenting a business-to-business market based on how industrial purchasers will use the product
Assume the price of jet fuel rises, but airline continue to purchase the same amount of fuel in order to meet operational needs. As a results, the demand for jet fuel is said to be inelastic
True
Compared to the SIC systems of classifications, the NAICS not only standardizes classsifications among nations, but also provide flexibility for each country to measure its own business activity
True
Systems integration
centralization of the procurement function within an internal division or as a service of an external supplier
joint demand
demand for a product that depends on the demand for another product used in combination with it
Derived demand
demand for a resource that results from demand for the goods and services produced by that resources
Inelastic demand
demand that, throughout an industry, will not change significantly due to price change
A buying center is a basic component of a firm's formal organization structure
false
offshoring
movement of high-wage from one country to lower-cost overseas location
nearshoring
moving jobs to vendors in countries close to the business's home country
A buying center
participants in an organizational buying action
Sole sourcing
purchasing a firm's entire stock of an item from one vendor
global sourcing
purchasing goods and services from suppliers worldwide
Trade industries
retailers or wholesalers that purchase products for resale to others
Category advisor
trade industry vendor who develops a comprehensive procurement plan for a retail buyer
merchandiser
trade sector buyers who secure needed products at the best possible price
