Marketing to Organizations - Chapter 5

These flashcards cover key concepts and vocabulary related to marketing to organizations, specifically focusing on organizational buyers, criteria, and buying processes.

Organizational Buyers

Industrial manufacturers, resellers, government, and nonprofit agencies that buy goods and services for their own use or for resale.

Organizational Buying Criteria

Factors influencing organizational purchasing decisions including price, quality, delivery, technical capability, warranties, past performance, and production capabilities.

Derived Demand

Demand for a product or service that results from the demand for another product or service.

Buying Centre

A group of people who share common goals, risk, and knowledge important to the purchase decision.

Corporate Credibility

Based on expertise, trustworthiness, stability, and likeability.

B2B Market Segmentation

Dividing markets based on type of customer, size of customer, type of buying situation, customer location, and benefits sought.

Stages in the Organizational Buying Process

Key stages include problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

Prominence of Online Buying

Buyers rely on timely supplier information and web-based technology to reduce order-processing costs and broaden their customer base.