Exam-1_Chapter-6 Notes.docx - Ch-6 Business-to-Business(B2B Marketing B2B Marketing Organizational sales and purchase of goods and services to support

Exam-1_Chapter-6 Notes.docx - Ch-6 Business-to-Business(B2B...

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Ch-6: Business-to-Business (B2B) Marketing B2B Marketing: Organizational sales and purchase of goods and services to support production of other products facilitate daily company operations or for resale Commercial Market: Individuals and firms that acquire products to support the production of other goods and services directly or indirectly. Trade Industries: Retailers or wholesalers that purchase products for resale to others. Resellers: Marketing intermediaries that operate in the trade sector. Component of the B2B Markets: 1. Commercial Markets 2. Trade Industries 3. Government – Purchases at federal/state/local levels to provide some form of benefit to public 4. Institutions – diverse array of organizations like hospitals, schools, museums and non- profit organizations. SEGMENTING B2B MARKETS Segmenting B2B Markets: 1. Segmenting by demographic characteristics 2. Segmentation by customer type: Division of B2B market into homogenous groups based on buyers’ product specifications. 3. Segmentation by end use application: Segmenting a B2B market based on how industrial purchasers will use the product. 4. Segmentation by purchase categories CRM: Customer Relationship Management
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Combination of strategies and tools that drives relationship programs, reorienting the entire organization to a concentrated focus on satisfying customers. NAICS: North American Industry Classification System Classification used by NAFTA countries to categorize the business marketplace into detailed market segments.
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