| Business market | The total of all business users.
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| Business users | Business, industrial, or institutional organizations that buy goods or services to use in their own organizations, to resell, or to make other products.
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| Business marketing | The marketing of goods and services to business users rather than to ultimate consumers.
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| Business marketer | A firm performing the activity of marketing goods and services.
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| Value added | The dollar value of a firm's output minus the value of the inputs it purchased from other firms.
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| Agribusiness | Farms, food-processing firms, and other large-scale farming related enterprises.
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| Reseller market | One segment of the business market, consisting of wholesaling and retailing middlemen, that buys products for resale to other organizations or to consumers.
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| Disintermediation | The replacement of some traditional intermediaries in a process due to the growth of Internet-based sales.
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| Government market | The segment of the business market that includes federal, state, and local units buying for government institutions such as schools, offices, hospitals, and military bases.
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| Business services market | The total set that deals in data and information such as marketing research firms, ad agencies, public utilities, and financial, insurance, legal, or real estate firms.
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| Nonbusiness market | The total set of churches, colleges and universities, museums, hospitals and other health institutions, political parties, labor unions, and charitable organizations that do not have profit-making as a primary objective.
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| International market | Sales, market potential, or sales potential in foreign (or nondomestic) areas.
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| Elasticity of demand | A price-volume relationship such that a change of one unit on the price scale results in a change of more than one unit on the volume scale.
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| North American Industry Classification System (NAICS) | Coding system similar to the SIC, but has 20 rather than 10 industry sectors, to provide a more detailed and contemporary classification scheme.
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| Vertical business market | A situation where a given product is usable by virtually all the firms in only one or two industries.
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| Horizontal business market | A situation where a given product is usable in a wide variety of industries.
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| Activity indicator of buying power | A market factor that is related to sales and expenditures and serves as an indirect estimate of purchasing power.
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| Buying motive | The reason why a person or an organization buys a specific product or makes purchases from a specific firm.
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| Buy classes | Three typical buying situations in the business market- namely new-task buying, modified rebuy, and straight rebuy.
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| New-task buying | In the business market, a purchasing situation in which a company for the first time considers buying a given item.
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| Straight rebuy | In the business market, a routine, low-involvement purchase with minimal information needs and no great consideration of alternatives.
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| Modified rebuy | In the business market, a purchasing situation between a new task and a straight rebuy in terms of time and people involved, information needed, and alternatives considered.
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| Buying center | In an organization, all individuals or groups involved in the process of making a purchase decision.
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| Buying roles | The users, influencers, deciders, gatekeepers, and buyers who make up a buying center.
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| Supply chain management | The combination of distribution channels and physical distribution to make up the total marketing system.
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| Loyalty | Faithfulness in a particular brand or retailer so that the consumer purchases that brand or from that retailer without considering alternatives.
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| Customer relationship management (CRM) | An ongoing interaction between a buyer and a seller in which the seller continuously improves its understanding of the buyer's needs, and the buyer becomes increasingly loyal to the seller because its needs are being so well satisfied.
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| Electronic commerce | The buying and selling of goods and services through the use of electronic networks.
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