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Unformatted text preview: Marketing ; 1C Organizational Buying Business, Government and Institutional Buying: o Producers; Businesses that buy goods & services in order to produce other goods & services o Intermediaries; Purchase products to resell at a profit Buyer Categories: o Government Agencies; 86,000 Government agencies spend trillions of dollars on machinery, equipment, facilities, supplies and services o Other Institutions; Such as hospitals, museums, universities, nursing homes, and churches Characteristics of the Buying Market: o Demand; Derived Inelastic o Nature of Buyers; Smaller number Concentrated o Transaction Characteristics; Larger orders Negotiations Reciprocal, Direct and Specification buying Purchase Types: o New Task Purchase; Most often used for big-ticket-items, these purchases happen rarely and are heavily researched and formal o Modified Re-buy; When some aspects of the buying process are unfamiliar o Straight Re-buy; Routine reordering from a supplier used in the past...
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This test prep was uploaded on 04/21/2008 for the course MKT 2300 taught by Professor Biswass during the Fall '07 term at Wayne State University.
- Fall '07