MKT 337 Lecture Notes - Lecture 8: North American Industry Classification System, Foreign Corrupt Practices Act, White Paper
Document Summary
Buying center: all the people who participate in or influence a purchase. Purchasing specifications: a written (or electronic) description of what the firm wants to buy. New-task buying: when an organization has a new need and the buyer wants a great deal of information. Modified rebuy: the in-between process where some review of the buying situation is done, though not as much as in new-task buying or as little as in straight rebuys. Straight rebuy: a routine repurchase that may have been made many times before. White paper: an authoritative report or guide that addresses important issues in an industry and offers solutions. Competitive bids: terms of sale offered by different suppliers in response to the buyer"s purchase specifications. Vendor analysis: formal rating of suppliers on all relevant areas of performance. Just-in-time delivery: reliably getting products there just before the customer needs them. Negotiated contract buying: agreeing to a contract that allows for changes in the purchase arrangements.
