Marketing Ch.7 Business to Business Marketing – Flashcards
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Business-to-business marketing refers to?
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process of buying and selling goods or services to be used in the production of other goods and services for consumption by the buying organization and or resale by wholesalers and retailers.
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What is the distinction between b2b and b2c transactions?
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ultimate user of that product or service.
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What is derived demand?
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link between consumers demand for a company's output and the company's purchase of necessary inputs to manufacture or assemble that particular output.
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B2B focus on?
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serving specific types of cutomer markets by creating value for those customers.
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B2B marketing involves the process of buying and selling goods or service to be used in production of other goods and services, for ________ by the buying organization, and/or for ___________ by wholesalers and retailers.
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consumption; resale
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The most visible of B2B transactions are those in which manufacturers and service providers ________________________
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sell to other businesses
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Manufacturers buy raw materials, components, and parts that allow them to?
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make and market their own goods ancillary services.
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Resellers are?
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marketing intermediaries that resell manufactured products without significantly altering their form
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What are examples of institutions
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hospitals, educational organizations, religious organizations
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These could be part of a firms B2B marketing plan.
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presenting at trade shows, buying print adverts, creating online campaign
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What is the business to business buying process?
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need, product, RFP process, proposal, order, vendor performance.
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First step in the B2B buying process is ?
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Need recognition
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Second step in the B2B buying process is?
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Specifying a product
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Third step in the B2B buying process is?
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RFP process, where they invite alternative vendors or suppliers to bid on supplying their required components or specifications
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Fourth step in the B2B buying process is?
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evaluates proposals from potential suppliers
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Fifth step in the B2B buying process is?
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Ordering
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Last step in the B2B buying process is?
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Vendor performance assessment
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The initiator is?
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person who first suggests buying the particular product or service.
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the influencer is?
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person whose views influence other members of the buying center in making the final decision
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the decider is?
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person who ultimately determines any part of or the entire buying decision, whether to buy, what to buy , how to buy, or where to buy.
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the user is?
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person who consumes or uses the product or service.
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the gatekeeper is?
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person who controls information or access or both.
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the buyer is?
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someone who handles the paperwork for the actual purchase.
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What are buying center culture?
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populous, theocratic
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this refers to a set of unspoken guidelines that employees share in various work situations
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organizational cuture
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Most B2B buying situations can be categorized into three types?
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new buys, modified rebuys, straight rebuys
