Ch 6

  1. Bidder's List
    A list of firms believed to be qualified to supply a given item
  2. Business Marketing
    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.
  3. Buy Classes
    consists of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy.
  4. Buying Center
    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.
  5. Derived Demand
    The demand for industrial products and services is driven by, or derived from, demand for consumer products and services.
  6. E-Marketplaces
    Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services.
  7. ISO 9000
    Standards for registration and certification of a manufacturer's quality management and assurance system based on an on-site audit of practices and procedures developed by the International Standards Organization (ISO).
  8. Make-Buy Decision
    An evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself.
  9. North American Industry Classification System (NAICS)
    Provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA).
  10. Organizational Buyers
    Those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
  11. Organizational Buying Behavior
    the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers.
  12. Organizational Buying Criteria
    The objective attributes of the supplier's products and services and the capabilities of the supplier itself.
  13. Reciprocity
    An industrial buying practice in which two organizations agree to purchase each other's products and services.
  14. Reverse Auction
    In an e-marketplace, it is an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other.
  15. Supplier Development
    The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers.
  16. Supply Partnership
    a relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer.
  17. Traditional Auction
    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.
  18. Value Analysis
    a systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs.
Card Set
Ch 6
Test #2