Business to Business Buying Process (5) Flashcards Preview

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Flashcards in Business to Business Buying Process (5) Deck (10)
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1

A business can refer to...

Companies
Government entities
Academic institutions
Organizations
Associations
Distributors

2

With consumer purchases, the transaction sizes are much ______. In contrast, business purchases tend to be much ______.

smaller, larger

- With consumers there are thousands to millions of consumers, and the transaction range is slight. Losing one consumer customer usually doesn’t have that much of an impact on a company’s bottom line.

- businesses and are concentrated on a smaller number of (business) buyers. Landing one large B2B sale can make a huge difference in a company’s revenues.

3

Which will have a greater impact on a business, the loss of one customer or the loss of a business buyer/seller?

business buyer/seller

4

Which is more complex, B2B purchases or consumer purchases?

B2B

- With a consumer purchase, an individual usually makes a purchase decision for him- or herself based on his or her wants or desires. A B2B purchase may have a committee or even an entire decision-making unit deciding on a purchase.

5

A B2B puches may have a ______ or even an entire decision-making unit deciding on a purchase.

committee

6

In the B2B buyer behavior process, the focus is on the customer ______.

relationship

7

Where marketing for consumer goods might focus on ______ the product or brand, the focus on the B2B marketing is on the ______ between the buyer and seller.

advertising, relationship

8

What are some examples of relationship marketing?

money spent on things like meetings, luncheons, gifts, and outings. Instead of mass advertising, more budget is spent on face-to-face meetings.

9

Also, as the B2B purchases are ______ term, they often require ongoing support.

longer

10

What should marketing efforts include?

The marketing efforts should include budget to maintain service and support for previous purchases to ensure ongoing business relationships.