Chap 7. Business-to-Business Marketing

These flashcards cover key concepts and terminology related to Business-to-Business Marketing based on lecture notes.

Business Marketing

The marketing of goods and services to individuals and organizations for purposes other than personal consumption.

Business Products

Products that are used to manufacture other products, become part of another product, aid operations, or are acquired for resale without change in form.

Buying Center

A group of individuals within an organization who participate in the purchasing decision process.

Need Recognition

The first step in the business buying process where a requirement arises.

RFP Process

Request For Proposal process where suppliers are invited to submit proposals for fulfilling a business need.

Vendor Assessment

Evaluation of potential suppliers based on their capabilities to meet buyer needs.

Modified Rebuy

A buying situation where the purchaser wants some change in the original good or service.

Straight Rebuy

A buying situation in which the purchaser reorders the same goods or services without looking for new information.

Omnichannel Marketing

A strategy involving multiple sales channels to provide customers with a seamless shopping experience.

Purchasing Roles

Roles within a buying center including initiator, gatekeeper, influencer, user, decider, and buyer.

Organizational Buying Criteria

Standards organizations use to evaluate potential suppliers, including quality, price, and delivery schedules.

Qualitative Marketing Trends in B2B

Emerging trends such as content marketing, employee advocacy, and agile marketing in the business-to-business sector.

B2B vs B2C

Business-to-Business involves fewer customers and closer relationships, while Business-to-Consumer involves many customers and more impersonal communication.

Agile Marketing

An approach that allows for quick testing and adjustments based on data analysis in marketing strategies.

Strategic Alliances

Partnerships between companies that enhance competitive advantage and delivery.

B2B

Involves fewer customers and closer relationships.

B2C

Involves many customers and many impersonal communications

Business Buyers

Manufacturers, Institutions, Reseller, Government

Resellers

Wholesalers, Distributers, Retailers

Institutions

Hospitals, educational institutions, and religious organizations

Government

In most countries, government is one the largest purchasers of goods and services.

Difference between sales initiation in B2B and B2C

B2C is more self initiated and B2B is initiated by others

Second stage of the business buying process

Product Specification: After recognizing the need and considering alternative solutions, create a list of potential specifications.

Third stage of the business buying process

RFP (Request for Proposal) Process: After recognizing the need and considering alternative solutions, create a list of potential specifications.

First stage of the business buying process

Need Recognition:The B2B process begins with need recognition.

Fourth stage of the business buying process

Purchase Decision: The decision on what, when, and how to purchase.

Fifth stage of the business buying process

Order Specification: Firm places the order with its preferred supplier (or suppliers).

Sixth stage of the business buying process

Vendor Performance Assessment Using Metrics


What is a User in the buying center?

The person who will actually use the product or service.

Buyer in the buying center?

The person responsible for the purchase decision, often involved in negotiating terms.

What is an Influencer in the buying center?

Someone who affects the buying decision by providing information or criteria.

What is a Decider in the buying center?

The person who ultimately decides which product to purchase.

What is a Gatekeeper in the buying center?

Controls the flow of information and access to decision-makers.

What is a Influencer in the buying center?

An advocate for the product within the organization, promoting its value to others