BUADChpt5 - Chapter5 >Businessmarketing:,organizations...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 5 The Nature and Size of Organizational Markets >Business marketing: marketing of products and services to companies, organizations >Organizational buyers: manufacturers, wholesalers, retailers, and government agencies that buy products and services for their own use or for resale  >Industrial Markets >reprocess a product or service they buy before selling it again to the next buyer  >Reseller Market >Wholesalers and retailers that buy physical products and resell without  processing  >Government Markets >federal, state and local agencies that buy goods and services for the constitutes they serve  Measuring Domestic and Global Industrial, Reseller, and Government Markets  aids in gauging the size of the market in the US and around the world >North American Industry Classification System (NAICS)  >provides common industry recognitions  Characteristics of Organizational Buying  >Demand Characteristics  >price and availability; by consumers personal tastes  >industrial demand is derived >derived demand: demand for industrial products and services is driven  by demand for consumer products and services >Size of the Order or Purchase >Purchasing policies or procedures to restrict buying  >Organizational buying objectives >objectives depend on the firm  >Organizational Buying Criteria  >objective attributes of the supplier s products and services and the capabilities  of the actual supplier  >price, ability to meet the quality specifications, delivery, technical  capability, warranties incase of poor performance, past perfor- mance,  facilities >Supplier development: more specific requirements  >Buyer-Seller Relationships and Supplier Performance >Organizational buying builds complex relationships man  >reciprocity: industrial buying practice in which two organizations agree to purchase each other s products and services  >buying center: individuals share common goals, risks and knowledge
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern