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Business Markets and Buying Behavior

Chapter 7 Review

AB
Business Market CategoriesProducer,Reseller,Government,Institutional
Insitutional MarketChurches, Charitable Organizations, Private Colleges
Accountant who buys softwareProducer Market
Evaluate based on sales per sq ftRetailers
Reciprocity2 Businesses agree to buy from one another
Administrative AssistantsGatekeepers
Sole SourcingBuying all of a certain part from one company
Joint DemandPlacing orders with one company for more than one product
Inelastic DemandA price increase or decrease will not significantly affect
Individual InfluenceRelationships in Firm
Institutional MarketsNonbusiness goals
Target/KmartResellers
Derived DemandPurchasing products to be used producing consumer products
Factors that Influence Business Buying DecisionsEnvironmental,Organizational, Interpersonal, Individual
New-Task PurchaseIntitial Purchase
Modified Re-buyNew-Task Purchase Changed 2nd or 3rd time
Value AnalysisExamining the cost of products relative to design, quality and material used



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