Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
50 Cards in this Set
- Front
- Back
Business-to-business marketing B2B |
Refers to the process of buying and selling goods or services to be used in the production of other goods and services for consumption by the buying organization and or Resale by the wholesalers and retailers |
|
Distinction between b2c and B2B |
Transactions is not the product or service itself rather it is the ultimate user of that product or service V2c often and Tails a simple transaction between a retailer and an individual consumer B2B involves more complex and multiple members of both of by organization |
|
B2B markets |
Manufacturers and service providers sell to other businesses resellers institutions and governments as well |
|
B2B manufacturers and service providers |
Manufacturers by raw materials components and parts that allow them to make and Market their own good and services |
|
Resellers |
Are marketing intermediaries that sell manufactured products without significantly altering them |
|
Wholesalers and distributors |
Buy products and sell them to retailers then retailers sell those products and sell them to the ultimate consumer |
|
Business-to-business |
Marketing refers to the process of buying and selling goods or services for use in producing other goods and services for consumption by the buying organization and or for Resale by the wholesale and retailers |
|
Business-to-business marketing |
When a firm buys raw materials from another to make its product |
|
Business-to-business |
The main are going to stations that make up business-to-business are manufactures resellers institutions and governments |
|
Resellers |
Can be thought of as intermediary |
|
Wholesalers retailers and manufacturers |
All of the following are involved in business-to-business marketing |
|
B2B |
When a firm sells two other firms instead of focusing on serving consumers the firm is participating in B2B |
|
Business-to-business buying process |
Need recognition Product specification RFP process Proposal analysis and supplier selection Order specification Vendor performance assessment using metrics |
|
Initiator |
Person who first suggest buying the product |
|
Influencer |
Person who views persuade others |
|
Decider |
Person who ultimately determines the buying decision |
|
Buyer |
Person who handles paperworks of purchase |
|
User |
Person who consumes or uses the product |
|
GateKeeper |
Person who controls information or access |
|
Organizational culture |
Refers to a set of unspoken guidelines that employs share in various work situation |
|
RFP AKA request for proposals |
During the B2B buying process a firm will typically invite alternative suppliers to bid on supplying the firms required components for a product this stage in which proposals are called for is called the RFP request for proposal |
|
Organizational buying cultures |
Democratic autocratic consultative and incentives are different types of organizational buying vultures |
|
Three buying situations B2B |
The three B2B buying situations our new Buy modified rebuy and straight rebuys |
|
Requesting RFP proposal process |
The buying firm posting its RFP needs on its own website and contacting potential suppliers |
|
Institutions |
Hospitals universities religious organizations to which a B2B vendor with sell a product |
|
Organizational culture |
A firms are going to stational culture demonstrates the values traditions and Customs that moderate its employees Behavior |
|
Autocratic buying Center |
Even though their maybe multiple participants one person makes a decision alone |
|
Democratic buying Center |
Majority rules |
|
Consultative buying Center |
Use one person to make a decision but solicit input from others before doing so |
|
Consensus buying Center |
All members of the team must we took Collective Agreement that they can support a particular purchase |
|
The business-to-business buying process |
Need recognition product specification RFP process order specification and vendor performance |
|
Straight rebuy |
To receive oh office supplies without any changes made from the previous order |
|
New Buy situation |
Member involvement will be intense often from both buyers and sellers and several members of the buying Center will be involved |
|
Autocratic buyer |
One person makes a decision autocratic |
|
Product specification |
Once a firm recognizes the need the firm will consider alternative Solutions and develop a list of requirements to give potential vendors |
|
Product |
A company will develop a potential product specification of supplier uses to develop proposals |
|
Buyer |
The person who handles the paperwork of the actual purchase and is responsible for making the purchase |
|
RFP request for proposals |
In the third stage of the B2B buying process the firm will invite alternative suppliers to bid on supplying the firms required components |
|
GateKeeper |
The role that controls information access or both to decision-makers and influencers |
|
Influencer |
The term used to identify the person who made agree with the initiator and ask others from the front to agree with need for a particular request |
|
Reduce paperwork, simplified negotiations, and streamline procurement |
B2B marketing companies often communicate via specialized webportal and the mentioned above are the advantages of using these portals |
|
Straight rebuy |
When your company places its regular office supply in order with the opposite Pie Company without making any changes to the previous order |
|
Vendor performance assessment |
Using a diagram using metrics to evaluate supplier of raw materials to a manufacturer |
|
Derived demand |
Consumers desire for cereal as an example of this process for the producer because people want it they make it |
|
B2B vs. B2c |
Both the B2B and b2c buying processes use the same overall concept from recognizing need three valuation but their approaches are a little different. B2B buyers are typically more formal and they're buying decisions indicating their needs in writing and submitting their formal proposals in contrast b2c buyers are usually more informal in there buying decisions where the purchase may be unplanned or even impulsive |
|
How to find bypass negotiating terms in stage 4 |
First off to negotiate the terms of financing quality and price |
|
Fifth step of the B2B buying process AKA order specification |
The Firm places its order |
|
Buying Center |
The participants range from employee with formal rules in the purchasing decision to design team members who are requesting or specifying a particular item |
|
Influencer |
Approve products pacifications in purchase agreements and pass the information along with recommendations |
|
Decider |
Which will make the determination as to which product is purchased from which supplier if purchased at all |