1. Analyzing Consumer Markets

3. Culture The fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions.

5. Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers

7. Social Factors Reference groups Social roles Statuses Family

17. Organizational Buying Decision-making process by which formal organizations establish the need for purchased products and services, and identify evaluate, and choose among alternative brands and suppliers.

34. Opportunism Some form of cheating or undersupply relative to an implicit or explicit contract.

35. Analyzing Business Markets

36. CISCO Targets Businesses

40. Buying Situation Straight rebuy Modified rebuy New task

41. Systems Buying and Selling Turnkey solution desired; bids solicited Prime contractors Second-tier contractors System subcomponents assembled

42. The Buying Center Initiators Users Influencers Deciders Approvers Buyers Gatekeepers

44. Sales Strategies Small Sellers Large Sellers Key Buying Influencers Multilevel In-depth Selling

46. Forms of Electronic Marketplaces

48. Handling Price-Oriented Customers Limit quantity purchased Allow no refunds Make no adjustments Provide no services

50. Order Routine Specification Stockless purchase plans Vendor-managed inventory Continuous replenishment

51. Establishing Corporate Trust and Credibility Expertise Likeability Trustworthiness

52. Factors Affecting Buyer-Supplier Relationships Availability of alternatives Supply market dynamism Complexity of supply Importance of supply