Marketing Chapter 7

Autocratic buying center

Autocratic buying center

Buying center in which one person makes the decision alone, though there may be multiple participants

B2B marketing

Process of buying and selling goods to be used in production of other goods for consumption by the buying org or for resale by wholesaler and retailers

Buyer

The buying center participant who handles the paperwork of the actual purchase

Buying center

Group of people typically responsible for the buying decisions in large orgs

Consensus buying center

Buying center in which all members of the team must reach a collective agreement that they can support a particular purchase

consultative buying center

Buying center in which one person makes the decision but he or she solicits input from others before doing so

decider

Buying center participant who determines any part of or the entire buying decision (whether to buy, what to buy and how and where to buy)

democratic buying center

Buying center in which the majority rules in making decisions

derived demand

The linkage between consumers demand for a company’s output and its purchase of necessary inputs to manufacture or assemble that particular output.

distributor

Type of reseller that resells manufactured products without significantly altering their form. Distributors often buy from manufacturers and sell to other businesses.

gatekeeper

Buying center participant who controls info or access to decision-makers and influencers

influencer

Buying center participant whose views influence other members of the buying center in making the final decision.

initiator

Buying center participant who first suggests buying the particular product or service

modified rebuy

Refers to when buyer has purchased similar product in past but has decided to change some specs, like price, quantity level etc

new buy

Purchase of a good for the first time; buying decision is likely to be involved because the buyer does not have any experience with item

organizational culture

Reflects the set of values, traditions and customs that guide a firm’s employees’ behavior.

request for proposals

Process through which buying orgs invite alternative suppliers to bid on supplying their required components

reseller

Marketing intermediary that resells manufactured products without significantly altering their form.

straight rebuy

When the buyer simply buys additional units of products that have previously been purchased

user

Person who consumes or uses the product purchased by the buying center

web portal

Internet site whose purpose is to be major starting point for users when they connect to web

white papers

A promotional technique used by B2B sellers to provide info about a product or service in an educational context, thereby not looking like a promotion

wholesaler

Firms engaged in buying and handling large quantities of goods, then reselling them to retailers or industrial business users.