*Chapter_5_-_B2B_Marketing_A2L

These flashcards cover key concepts in Business-to-Business (B2B) marketing, focusing on the unique traits and structures that differentiate B2B markets from Business-to-Consumer (B2C) markets.

B2B Marketing

Buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying firm, or for resale.

Buying Centre

A group of people within an organization responsible for making purchasing decisions.

Request for Proposal (RFP) Process

The stage where buying organizations invite alternative suppliers to bid on supplying required components or specifications.

Derived Demand

A characteristic of B2B markets where demand for business products is based on the demand for consumer products.

Vendor Performance Assessment

The evaluation of a supplier's performance based on key issues like delivery, quality, and customer service.

Buying Situations

Different contexts in which buying decisions are made, including new buys, modified rebuys, and straight rebuys.

Institutions in B2B Markets

Organizations such as schools, museums, and religious organizations that purchase goods and services for their operations.

Government Purchases

Significant spending by the government on goods and services, affecting many businesses that specialize in selling to governmental entities.

Influencer

A role within the buying centre that impacts decision-making by providing information or criteria for evaluating options.

Gatekeeper

A role in the buying centre that controls the flow of information and may limit access to decision-makers.

B2B Characteristics

____ include derived demand, fewer customers, larger orders, complexity in buying decisions, and the relevance of technical specifications.

B2B Classification System

A system like NAICS that categorizes businesses into specific sectors for better market segmentation and analysis.