Business-2-Business Marketing – Flashcards
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First Step of B2B Buying Process
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Need Recognition
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Need Recognition
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Can be generated internally or externally
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Second Step of B2B Buying Process
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Product Specification
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Product Specificaiton
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-Suppliers use to develop proposals -Can be done collaboratively with suppliers
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Third Step of B2B Buying Process
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RFP Process
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RFP Process
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Request for Proposal
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Fourth Step of B2B Buying Process
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Proposal Analysis, Vendor Negotiation and Selection
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Proposal Analysis, Vendor Negotiation, and Selection
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-Often several vendors are negotiating against each other -Considerations other than price play a role in final selection
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Fifth Step of B2B Buying Process
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Order Specification
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Order Specification
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-Firm places the order -The exact details of the purchase are specified -All terms are detailed including payment
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Sixth Step of B2B Buying Process
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Vendor Analysis
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Factors Affecting the Buying Process
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-The buying center -Buying situation -Organization culture
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The Buying Process
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-Initiator -Influencer -Decider -Buyer -User -Gatekeeper
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Buying Situations
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-New Buy -Modified Rebuy -Straight Rebuy
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New Buy
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-Purchasing for the first time -Likely to be quite involved -The buying center will probably use all six steps in the buying process
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Modified Rebuy
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-Purchasing a similar product but changing specifications -Current vendors have an advantage
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Straight Rebuys
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-Buying additional units or products that have been previously purchased -Most B2B purchases fall into this category
