Marketing Chapter 7 Key Terms

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Department
HRIM - Hospitality Management
Course
HRIM 320
Professor
Dr.Stephen Shiring
Semester
N/A

Description
Marketing Chapter 7 Key Terms  Organizational Buying Process – the decision making process by which formal organization establish the need for purchased products and services and identity, evaluate, and chooses among alternative brands and suppliers o Problem Recognition - the stage of the industrial buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or service o General Need Description – stage of the industrial buying process in which a company describes the general characteristics and quantity of the needed item o Product Specification – the stage “ “ in which the buying organization decides on and specifies the best technical product characteristics for an needed item o Supplier Search – the stage “ “ in which a buyer tries to find the best vendor o Supplier Selection – the stage “ “ in which a buyer receives proposals and selects a supplier/s o Order-Routine Specifications – the stage of the industrial buying process in which a buyer writes the final order w
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