Term
| gross domestic product (GDP) |
|
Definition
-measures of national income.
-one years total market value of all goods and services provided by residential and nonresidential |
|
|
Term
|
Definition
| numer of babies per 1000 people |
|
|
Term
| metropolitan statistical area (MSA) |
|
Definition
-an integrated economic and social unit with l large population nucleus.
-50,000 or more |
|
|
Term
|
Definition
| income that is adjusted to take out the effects of inflation on purchasing power. |
|
|
Term
|
Definition
| income that is left after taxes |
|
|
Term
|
Definition
| what is left of disposable income after paying for necessities |
|
|
Term
|
Definition
| people whose children are grown and who are now able to spend their money in other ways |
|
|
Term
|
Definition
|
|
Term
| business and organizational customers |
|
Definition
| any buyers who buy for resale or to produce other goods and services |
|
|
Term
| purchasing specifications |
|
Definition
| a written or electronic description of what the firm wants to buy |
|
|
Term
|
Definition
| a way for a supplier to document its quality procedures according to internationally recognized standards |
|
|
Term
|
Definition
| buying specialists for their employers |
|
|
Term
| multiple buying influence |
|
Definition
| several people share in making a purchase decision perhaps even top management |
|
|
Term
|
Definition
| all the people who participate in or influence a purchase |
|
|
Term
|
Definition
| formal rating of suppliers on all relevant areas of performance |
|
|
Term
|
Definition
| a request to buy something |
|
|
Term
|
Definition
| when an organization has a new need and the buyer wants a great deal of information |
|
|
Term
|
Definition
| a routine repurchase that may have been made many times before |
|
|
Term
|
Definition
| 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 |
|
|
Term
|
Definition
| terms of sale offered by different suppliers in response to the buyers purchase specifications |
|
|
Term
|
Definition
| reliably getting the products there just before the customer needs them |
|
|
Term
| negotiated contract buying |
|
Definition
| agreeing to a contract that allows for changes in the purchase arrangements |
|
|
Term
| North american industry classification system (NAICS) |
|
Definition
| codes used to identify groups of firms in similar lines of business |
|
|
Term
|
Definition
| a buyer has budgeted funds that he can spend during the current time period |
|
|
Term
|
Definition
| independent buying agents who work in central markets for several retailer or wholesaler customers based in outlying areas or other countries |
|
|
Term
| Foreign corrupt practices act |
|
Definition
| a law passed by the U.S congress in 1977 that prohibits U.S firms from paying bribes to foreign officials |
|
|
Term
|
Definition
| the stages a new product idea goes through from beginning to end |
|
|
Term
|
Definition
| a stage of the product life cycle when sales are low as a new idea is first introduced to a market |
|
|
Term
|
Definition
| a stage of the product life cycle when industry sales grow fast but industry profits rise and then start falling |
|
|
Term
|
Definition
| a stage of the product life cycle when industry sales level off and competition gets tougher |
|
|
Term
|
Definition
| a stage of the product life cycle when new products replace the old |
|
|
Term
|
Definition
| currently accepted pr popular style |
|
|
Term
|
Definition
| a short lived style in a specific group of people. |
|
|
Term
| federal trade commision (FTC) |
|
Definition
| federal government agency that polices antimonopoly laws |
|
|
Term
| consumer product safety act |
|
Definition
| a law in 1972 that encouraged more awareness of safety in product design and better quality control |
|
|
Term
|
Definition
| the legal obligation of seller to pay damages to individuals who are injured by defective or unsafe products. |
|
|
Term
|
Definition
| getting reactions from customer about how well a new product idea fits their needs |
|
|
Term
|
Definition
-AKA product managers
-manage specific products take over for advertising manager
-promotion |
|
|
Term
| total quality manager (TQM) |
|
Definition
| the philosophy that everyone in the organization cares about quality |
|
|
Term
|
Definition
| a graph showing the number of times a problem occurs from most frequent to least. |
|
|
Term
|
Definition
| a visual aid that helps organize cause and effect relationships for "things that have gone wrong" |
|
|
Term
|
Definition
| giving employees the authority to fix a problem without asking the manager |
|
|
Term
|
Definition
| picking a basis of comparison for evaluating how well a job is being done |
|
|
Term
| ISO 14001 -Environmental Management Systems |
|
Definition
-Third party certification Extensive record keeping requirements
-EMS Documentation , Document Control |
|
|
Term
|
Definition
-Materials
-Energy
-Emissions
-Wastes
-Objectives |
|
|
Term
| Corporate Social Responsibility (CSR) or CSRwire |
|
Definition
| is the leading source of corporate social responsibility and sustainability news, reports and information. |
|
|
Term
|
Definition
| NGO's, agencies, companies communicating their corporate citizenship, sustainability, and socially responsible initiatives to a global audience |
|
|
Term
|
Definition
| issues of Diversity, Philanthropy, Socially Responsible Investing (SRI) Environment, Human Rights, Workplace Issues, Business Ethics, Community Development and Corporate Governance. |
|
|
Term
|
Definition
-Comparability - (across time periods and across companies)
-Agreed upon criteria Definitions of criteria
-Agreed upon measurement approaches |
|
|
Term
|
Definition
| the purchasing managers who are responsible for workers and suppliers and arranging for the terms for the sale |
|
|
Term
|
Definition
| the people who will actually use the product. They may be production workers or support staff. |
|
|
Term
|
Definition
| people whose expertise is used to help determine which products are needed. Influencers are often technical people who help write specifications |
|
|
Term
|
Definition
| people in key positions in the organization who control the flow of information. Gatekeepers can include receptionists, secretaries, researchers, and others. |
|
|
Term
|
Definition
| is a formal rating of suppliers on all relevant areas of performance |
|
|
Term
| Product life cycle Individual Brands |
|
Definition
-May not follow the classic pattern
-May be introduced in market growth or maturity
-Not all brands are equally strong |
|
|
Term
| Product life cycle Market Definitions |
|
Definition
-Should be carefully developed
-Different markets, different stages
-Contribute to the length of the cycle |
|
|
Term
| new product development process |
|
Definition
5 stages
idea generation- customer ideas competitors other markets
screening- strength + weakness market trends
idea evaluation- concept testing rough estimates of cost sales
development- R&D test marketing mix develop model
commercialization- roll out in select markets, final ROI estimate |
|
|
