MKTG Exam 2 Study Guide COLORS

A form of learning that occurs when ones response is

Info icon This preview shows pages 2–4. Sign up to view the full content.

View Full Document Right Arrow Icon
= a form of learning that occurs when ones response is extended to a second stimulus similar to the first Stimulus Discrimination = a learned ability to differentiate among similar products Belief = an organized pattern of knowledge that an individual holds as true about his or her world Attitude = a learned tendency to respond consistently toward a given object Chapter 7: Business Marketing Business Marketing = the marketing of goods and services to individuals and organizations for purposes other than personal consumption Business Marketing on the Internet Business-to-business electronic commerce = the use of the internet to facilitate the exchange of goods, services, and information between organizations Stickiness = a measure of a Website’s effectiveness; (stickiness=frequency * duration * site reach) Disintermediation = the elimination of intermediaries such as wholesalers or distributers from a marketing channel Reintermediation = the reintroduction of an intermediary between producers and users Relationship Marketing and Strategic Alliances Strategic Alliance (strategic partnership) = a cooperative agreement between business firms Relationship Commitment = a firm’s belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining indefinitely Trust = the condition that exits when one party has confidence in an exchange partner’s reliability and integrity Keiretsu = a networking of interlocking corporate affiliates Major Categories of Business Customers Original Equipment Manufacturers (OEMs) = individuals and organizations that buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers The North American Industry Classification System North American Industry Classification System (NAICS) = detailed numbering system developed by the US, Canada, and Mexico to classify North American business establishments by their main production processes Business vs. Consumer Markets Derived Demand = the demand for business products Joint Demand = the demand for two or more items used together in a final product Multiplier Effect (accelerator principle) = phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product
Image of page 2

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

View Full Document Right Arrow Icon
Business-to-business online exchange = an electronic trading floor that provides companies with integrated links to their customer and suppliers Reciprocity = a practice where business purchasers choose to buy from their own customers Types of Business Products Major Equipment (installations) = capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings Accessory Equipment = goods, such as portable tools and office equipment, that are less expensive and shorter- lived than major equipment Raw Materials = unprocessed extractive or agricultural products, such as mineral ore, lumber, fish, etc.
Image of page 3
Image of page 4
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