Below are this chapter's featured key terms. The textbook's full glossary is also available for online searching.
 

bidders list	A list of firms believed to be qualified to supply a given item. (See page(s) See page 159 in your textbook.)
business marketing	The marketing of goods and services to commercial enterprises, governments, and other profit and not-for-profit organizations for use in the creation of goods and services that they then produce and market to other business customers as well as individuals and ultimate consumers. (See page(s) See page 148 in your textbook.)
buy classes	Three types of organizational buying situations: new buy, straight rebuy, and modified rebuy. (See page(s) See page 156 in your textbook.)
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. (See page(s) See page 155 in your textbook.)
derived demand	Demand for industrial products and services driven by, or derived from, demand for consumer products and services. (See page(s) See page 151 in your textbook.)
e-marketplaces	Online trading communities that bring together buyers and supplier organizations. (See page(s) See page 161 in your textbook.)
government units	The federal, provincial, and local agencies that buy goods and services for the constituents they serve. (See page(s) See page 149 in your textbook.)
industrial firm	An organizational buyer that in some way reprocesses a good or service it buys before selling it again to the next buyer. (See page(s) See page 148 in your textbook.)
ISO 9000 standards	Registration and certification of a manufacturer's quality management and quality assurance system. (See page(s) See page 164 in your textbook.)
make-buy decision	An evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself. (See page(s) See page 159 in your textbook.)
North American Industry Classification System (NAICS)	Provides common industry definitions for Canada, Mexico, and the United States, which facilitate the measurement of economic activity in the three member countries of NAFTA. (See page(s) See page 149 in your textbook.)
organizational buyers	Those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale. (See page(s) See pages 24, 148 in your textbook.)
organizational buying behaviour	The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers. (See page(s) See page 151 in your textbook.)
organizational buying criteria	The objective attributes of the supplier's products and services and the capabilities of the supplier itself. (See page(s) See page 153 in your textbook.)
reciprocity	An industrial buying practice in which two organizations agree to purchase each other's products and services. (See page(s) See page 154 in your textbook.)
reseller	A wholesaler or retailer that buys physical products and resells them again without any processing. (See page(s) See page 148 in your textbook.)
reverse auction	A buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other. (See page(s) See page 163 in your textbook.)
reverse marketing	The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers. (See page(s) See page 154 in your textbook.)
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 consumer. (See page(s) See page 154 in your textbook.)
traditional auction	A seller puts an item up for sale and would-be buyers are invited to bid in competition with each other. (See page(s) See page 161 in your textbook.)
value analysis’	A systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs. (See page(s) See page 159 in your textbook.)