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MKTG Exam 2 Study Guide COLORS

A process that creates changes in behavior immediate

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= a process that creates changes in behavior, immediate or expected, through experience and practice Stimulus Generalization = 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
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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. Component Parts
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