Marketing Essentials

Section 1: The Role of the Buyer

After You Read Online Action

Key Terms and Concepts

1. Three job titles that can be used to describe people responsible for purchasing in manufacturing and service businesses include: purchasing managers, industrial buyers, and procurement managers.
2. The bill of materials gives the total of all materials necessary to make one item. This can be multiplied by the total number of items to determine exactly how much must be purchased.
3. Centralized buying helps to create a unified image for the chain, merchandise can be transferred from one store to another where it is selling better, and quantity discounts can be negotiated due to large volume purchases.

Academic Skills

4. $1.25, $1.13
5. Brochures and sites should demonstrate your understanding of industrial purchasing.