Chapter 9 - Business-to-Business Marketing

business-to-business (B2B) marketing

Marketing to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others

professional purchasers or buyers

Employees of companies who make purchase decisions in the best interest of their organizations

buyer-seller relationship

A connection between a firm and/or its employees intended to result in mutually beneficial outcomes

derived demand

When demand for one product occurs because of demand for a related product

resellers

Retailers and wholesalers that buy finished goods and resell them for a profit

wholesaler

A firm that sells goods to anyone other than an end-user consumer

government markets

Federal, state, and local entities that purchase everything from heavy equipment to paperclips

institutional markets

A wide variety of organizations, including hospitals, schools, churches, and nonprofit organizations

transactional relationship

Where both parties protect their own interests and where partners do things for each other purely as an exchange

collaborative relationship

When both parties share resources (e.g., financial risk, knowledge, and employees) in an effort to attain a common goal that provides beneficial outcomes to both parties

new buy

A business customer purchasing a product for the first time

straight rebuy

When a business customer signals its satisfaction by agreeing to purchase the same product at the same price

modified rebuy

Occurs when the customers' needs change slightly or they are not completely satisfied with the product they purchased

enablement tools

Applications that streamline buyer–seller engagement in an effort to improve the customer’s experience

request for proposal (RFP)

A formal listing of specifications for a needed product that is sent to a supplier firm asked to bid on supplying the product

buying center

The group of people responsible for strategically obtaining products needed by the firm

users

Individuals who will use the product once it is acquired

gatekeepers

Individuals who control the flow of information into the company that all other users will review in making a purchasing decision

decider

The person who chooses the good or service that the company is going to buy

influencers

Individuals who affect the buying decision by giving opinions or setting buying specifications

buyers

Those who submit the purchase to the salesperson in a B2B buying center. This role is often more formal, such as a purchasing manager