Banach B2B Marketing
B2B Marketing
B2B Marketing
Set of flashcards Details
| Flashcards | 7 |
|---|---|
| Language | English |
| Category | Marketing |
| Level | University |
| Created / Updated | 28.03.2014 / 06.11.2019 |
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Business-to-Business (B2B) Marketing
Definition
The process of buying and selling goods to be used in the production of other goods and services, for consumption by the buying organization, and for resale by wholesalers and retailers.
B2B Marlets
B2B Buying Process
Factors Affecting the Buying Process
The Buying Center
Organizational Culture
Buying Situations
B2B Markets
Manufacturers or Producers
- They buy raw materials, components, and parts that allow them to manufacture their own goods.
Resellers
- Buy goods from manufacturer and resell manufactured products.
Institutions
- Hospitals
- Schools
- Religious organizations
Government
- One of the largest purchasers of goods and services
The B2B Buying Process
6 Stages
Stage 1: Need Recognition
- Can be generatet internally or externally (Suppliers, Salepeople, Competitors)
Stage 2: Product Specifications
- Suppliers use to develop proposals (Can be done with Suppliers)
Stage 3: Request for Proposals (RFP) Process
- Buyers invite suppliers to bid on supplying needed components.
Stage 4: Proposal Analysis, Vendor Negotiation, and Selection
- Several vendors negotiate against each other.
- Considerations other than price play a role in final selection.
Stage 5: Order Specification
- The firm places its order
- The exact details of the purchase are specified
- All Terms are Detailed including Payment
Stage 6: Vendor Analysis
- After purchase, the buyer conducts a vendor analysis to see if they will buy from supplier again.
Factors Affecting the Buying Process
The Buying Center
Organizational Culture
Buying Situations
The Buying Center
6 Roles
Gatekeeper
-Controlls Information or access to deciders ind influencers
Initiator
- First suggest buying the particular product or service
Influencer
- His view influences other members of the buying center in making the final decision
Decider
- Determines any part of or the entire buying decision: whether, what, how, or where to buy
Buyer
- Handles the paperwork of the actual purchase
User
- Consumes or uses the product or service purchased by buying center
Organizational Culture
4 Types of Corporate Buying Center Cultures
Autocratic: One person makes the decision alone
Democratic: Majority rules in making decision
Consultative: One person to make a decision but gets input from others
Consensus: All members must reach a collective decision on a purchase
3 Buying Situations
New Buys
- For the first time
- Likely to be quite involved
- The buying will probably use all steps in the buying process.
Modified Rebuys
- Purchasing a similar product but changing Specifications .
- Current vendors have an advantage
Straight rebuys
- Buying additional units of products that had previously been purchased.
- Most B2B purchases fall in the straight rebuy category.
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