Prepare for your exams
Get points
Guidelines and tips

Prepare for your exams

Study with the several resources on Docsity

Earn points to download

Earn points by helping other students or get them with a premium plan

Guidelines and tips

Sell on Docsity

Log in Sign up

Prepare for your exams

Study with the several resources on Docsity

Find documents

Prepare for your exams with the study notes shared by other students like you on Docsity

Search Store documents

The best documents sold by students who completed their studies

Search through all study resources

Docsity AINEW

Summarize your documents, ask them questions, convert them into quizzes and concept maps

Explore questions

Clear up your doubts by reading the answers to questions asked by your fellow students

Earn points to download

Earn points by helping other students or get them with a premium plan

Share documents

20 Points

For each uploaded document

Answer questions

5 Points

For each given answer (max 1 per day)

All the ways to get free points

Get points immediately

Choose a premium plan with all the points you need

Study Opportunities

Choose your next study program

Get in touch with the best universities in the world. Search through thousands of universities and official partners

Community

Ask the community

Ask the community for help and clear up your study doubts

University Rankings

Discover the best universities in your country according to Docsity users

Free resources

Our save-the-student-ebooks!

Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors

From our blog

Exams and Study

Go to the blog

B2B Marketing: Understanding Components, Segmentation, Characteristics, and Buying Process, Study notes of Principles of Marketing

Southern Illinois University (SIU) - Edwardsville Principles of Marketing

Prof. Ann Gorman

The components of b2b marketing, major approaches to segmenting b2b markets, characteristics of business markets and demand, decision-making processes, and influences on business buying behavior. It also covers topics like global sourcing, joint demand, outsourcing, organizational buying process, and buying center concept.

Typology: Study notes

Pre 2010

Uploaded on 12/10/2009

terrorist 🇺🇸

47 documents

1 / 3

This page cannot be seen from the preview

Don't miss anything!

Ch6 Concepts

1. Explain each of the components of the B2B market

a. Define B2B marketing

i. Business to business. Selling your product/service to another business

b. What is the commercial market?

i. Using purchased product as an input good (directly/indirectly) into your

product.

2. Describe the major approaches to segmenting B2B markets

a. What are the four major ways marketers’ segment business markets?

i. Demographic characteristic- ex. by size (sales/employees)

ii. Customer type- ex. Servicer/provider Ex. Industry

iii. End-use application- how the prod will be used. Ex. printer for bicycle

manufacturer or FBI

iv. Purchase categories- ex. accounting department vs. human resource

department.

b. What is the NAICS?

i. North American Industry Classification System- Classification system that NAFTA

uses to categorize the marketplace into detailed market segments.

c. Why segment?

i. To use our marketing dollars more effectively

3. Identify the major characteristics of the business market and its demand

a. Why is geographic segmentation important in the B2B market?

i. Manufacturers converge in certain regions

b. In what ways is the buyer-seller relationship important in B2B marketing?

i. Must provide advantages no other vendor can provide

c. What is global sourcing?

i. Purchasing goods/services from suppliers worldwide.

d. How does derived demand create volatile demand?

i. If people want the output, but the input is limited, there’s a problem.

e. Give an example of joint demand

i. Ex. lumber and concrete for housing. If lumber supplies fall, the drop in housing

construction will cause concrete demand to fall too.

f. How might JIT II strengthen marketing relationships?

i. If you have the Jack’s wood representative there with you while you’re making

the product, you build a better relationship with Jack’s Wood Co and work out

supplier problems quickly.

4. Discuss the decision to make, buy, or lease

a. Identify two potential benefits of outsourcing

i. Allows firm to focus on their core business

ii. Allows specialized talents

b. Identify two potential problems with outsourcing

Partial preview of the text

Download B2B Marketing: Understanding Components, Segmentation, Characteristics, and Buying Process and more Study notes Principles of Marketing in PDF only on Docsity!

Ch6 Concepts

Explain each of the components of the B2B market a. Define B2B marketing i. Business to business. Selling your product/service to another business b. What is the commercial market? i. Using purchased product as an input good (directly/indirectly) into your product.
Describe the major approaches to segmenting B2B markets a. What are the four major ways marketers’ segment business markets? i. Demographic characteristic- ex. by size (sales/employees) ii. Customer type- ex. Servicer/provider Ex. Industry iii. End-use application- how the prod will be used. Ex. printer for bicycle manufacturer or FBI iv. Purchase categories- ex. accounting department vs. human resource department. b. What is the NAICS? i. North American Industry Classification System- Classification system that NAFTA uses to categorize the marketplace into detailed market segments. c. Why segment? i. To use our marketing dollars more effectively
Identify the major characteristics of the business market and its demand a. Why is geographic segmentation important in the B2B market? i. Manufacturers converge in certain regions b. In what ways is the buyer-seller relationship important in B2B marketing? i. Must provide advantages no other vendor can provide c. What is global sourcing? i. Purchasing goods/services from suppliers worldwide. d. How does derived demand create volatile demand? i. If people want the output, but the input is limited, there’s a problem. e. Give an example of joint demand i. Ex. lumber and concrete for housing. If lumber supplies fall, the drop in housing construction will cause concrete demand to fall too. f. How might JIT II strengthen marketing relationships? i. If you have the Jack’s wood representative there with you while you’re making the product, you build a better relationship with Jack’s Wood Co and work out supplier problems quickly.
Discuss the decision to make, buy, or lease a. Identify two potential benefits of outsourcing i. Allows firm to focus on their core business ii. Allows specialized talents b. Identify two potential problems with outsourcing

i. Reduce ability to respond quickly to marketplace ii. Negative impact on employee morale/loyalty

Describe the major influences on business buying behavior a. Identify the three major factors that influence purchase decisions i. Environmental-econ/pol/regul/competitive/tech ii. Organizational- structure/policy/purchasing system/ how many suppliers? iii. Interpersonal- know who to know, know your product b. What are the advantages and disadvantages of multiple sourcing? i. Consolidating suppliers may save money ii. Relying on only a few suppliers is dangerous
Outline the steps in the organizational buying process a. Why does the organizational buying process contain more steps than the consumer buying process? i. Because business purchases introduces new complexities that do not affect consumers b. List the steps in the organizational buying process i. Recognize problem and general solution ii. Determine characteristics and quantity iii. Describe characteristics and quantity iv. Search for and qualify sources v. Acquire and analyze proposals vi. Evaluate proposals and select suppliers vii. Select order routine viii. Obtain feedback and evaluate performance
Classify organizational buying situations a. What are the four classifications of business buying situations? i. Straight rebuying 1. Reorders what worked in the past ii. Modified rebuying
Willing to reevaluate available options iii. New-task buying
First-time or unique buying situation iv. Reciprocity
Buying from suppliers that are also customers b. Differentiate between value analysis and vendor analysis i. Value analysis-Examines each component of a purchase in attempt to either delete the item or replace it with a more cost-effective substitute ii. Vendor analysis-carries out ongoing evaluation of a supplier’s performance in categories such as price, EDI capability, back orders, deliver times, liability insurance, and attention to special requests.
Explain the buying center concept a. Identify the five roles of people in a buying center decision

B2B Marketing: Understanding Components, Segmentation, Characteristics, and Buying Process, Study notes of Principles of Marketing

Related documents

Partial preview of the text

Download B2B Marketing: Understanding Components, Segmentation, Characteristics, and Buying Process and more Study notes Principles of Marketing in PDF only on Docsity!