BK_Chapter006_Expanded

BK_Chapter006_Expanded - CHAPTER 6 Business-to-Business...

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Chapter Objectives Business-to-Business (B2B) Marketing CHAPTER 6 1 2 4 7 8 Explain each of the components of the business-to-business (B2B) market. Describe the major approaches to segmenting business-to-business (B2B) markets. Identify the major characteristics of the business market and its demand. Discuss the decision to make, buy, or lease. Describe the major influences on business buying behavior. Outline the steps in the organizational buying process. Classify organizational buying situations. Explain the buying center concept. Discuss the challenges of and strategies for marketing to government, institutional, and international buyers. 5 3 6 9 0
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CHAPTER 6 Business-to-Business (B2B) Marketing • Business-to-business (B2B) market is significantly larger than the consumer market. • Example: U.S. companies spend more than $300 billion annually just for office and maintenance supplies. • Example: Department of Defense budget in a recent year was over $515 billion. Business-to-business (B2B) marketing Organizational sales and purchases of goods and services to support production of other products, to facilitate daily company operations, or for resale. 0
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CHAPTER 6 Business-to-Business (B2B) Marketing NATURE OF THE BUSINESS MARKET 0
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CHAPTER 6 Business-to-Business (B2B) Marketing NATURE OF THE BUSINESS MARKET • Companies also buy services, such as legal, accounting, office-cleaning, and other services. • Some firms focus entirely on business markets. • Example: Caterpillar , which makes construction and mining equipment. • Diverse market, everything from a box of paper clips to thousands of parts for an automobile manufacturer. 0
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CHAPTER 6 Business-to-Business (B2B) Marketing COMPONENTS OF THE BUSINESS MARKET • Four main components: Commercial market Individuals and firms that acquire products to support, directly or indirectly, production of other goods and services. • Largest segment of the business market. Trade industries Retailers or wholesalers that purchase products for resale to others. • Also called resellers , marketing intermediaries that operate in the trade sector. • Government—all domestic levels (federal, state, local) and foreign governments; also act as sellers—e.g., confiscated goods. • Public and private institutions, such as hospitals, churches, colleges and universities, and museums. 0
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Business-to-Business (B2B) Marketing B2B MARKETS: THE INTERNET CONNECTION • About 93 percent of all Internet sales are B2B transactions. • Opens up foreign markets to sellers. • Largest segment of the business market. DIFFERENCES IN FOREIGN BUSINESS MARKETS • May differ due to variations in regulations and cultural practices. • Businesses must be willing to adapt to local customs and business practices
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This note was uploaded on 05/24/2011 for the course MKT 327 taught by Professor Forest during the Spring '09 term at Michigan State University.

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BK_Chapter006_Expanded - CHAPTER 6 Business-to-Business...

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