Business Marketing Basics

Vocabulary flashcards covering key terms and concepts from the lecture on business (B2B) marketing.

Business Marketing (B2B Marketing)

Marketing and selling products or services from one company to another rather than directly to consumers.

Target Audience (B2B)

Decision-makers within other organizations who evaluate and purchase products or services for business use.

Relationship Building

The B2B emphasis on nurturing long-term, trust-based partnerships with client businesses.

Complex Sales Process

Multilayered decision-making, higher information requirements, and longer purchase cycles typical in B2B transactions.

High Degree of Professionalism

The need for expertise, credible communication, and industry knowledge when selling to other businesses.

Focus on Value

Delivering benefits such as cost savings, efficiency gains, or enhanced capabilities to the purchasing business.

Marketing Strategy (B2B)

A plan that sets goals, outlines tactics, and allocates resources to boost brand awareness, attract leads, and drive sales among businesses.

Brand Awareness

The extent to which target businesses recognize and recall a company’s brand or offerings.

Lead

A potential business customer that has shown interest in a company’s product or service.

Marketing Campaign

A coordinated set of promotional activities designed to achieve specific marketing objectives within a defined timeframe.

Four Ps of Marketing

The foundational framework—Product, Price, Place, and Promotion—used to craft and evaluate marketing strategies.

Product (4 Ps)

The good or service offered, including its features, target market, and competitive differentiators.

Price (4 Ps)

The monetary amount customers are willing to pay, factoring in costs, competitor pricing, and discounts.

Place (4 Ps)

The distribution channels and locations (online or physical) where the product is made available to buyers.

Promotion (4 Ps)

The communications and tactics used to convey product value and persuade target businesses to purchase.

Example: Software Sale

A company providing project management software licenses to another business for internal use.

Example: Raw Materials Supply

A manufacturing firm selling inputs such as lumber, steel, or fabric to a producer of finished goods.

Example: Logistics Service

A transportation firm offering shipping and distribution solutions to retail or e-commerce companies.