MCS 1000 Lecture 6: MCS1000 Final Exam Review17

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Archie Bonifacio

Document Summary

Supply partnership: a relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost and/or increasing the value of products and services delivered to the ultimate consumers. Buying centre: the group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision. People in buying centre: composition depends on items bought, buyer/purchasing manager, other individuals from other areas, find those who initiate and influence. Buying situations: number of people depend on specific buying situation, buy classes: vary from straight rebuy to new buy, new buy-first-time buyer. Potential risks are great, buying centre enlarged to all who have stake: modified rebuy-users, influencers etc. wish to change product spec, price, delivery or supplier.