Module 5: B2B Marketing Flashcards Preview

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Flashcards in Module 5: B2B Marketing Deck (48)
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1

how are business customers different than individual customers

they make decisions and are influenced differently in the decision-making process

2

the marketing of products to companies, govs, or not-for-profit orgs for use in creation of g/s that they then produce and market to others

business-to-business (B2B) marketing

3

manufacturers, wholesalers, retailers, gov and non-profit agencies that buy g/s for their own use or for resale

organizational buyers

4

organizational buyers can be divided into 4 different markets

industrial
reseller
gov markets/units
non-profit orgs

5

reprocess a product or service they buy before selling it again to the next buyer

industrial firms

6

wholesalers and retailers who buy physical products and resell them again without any reprocessing

resellers markets

7

the fed, prov, regional, and municipal agencies that buy g/s for the constituents they serve

government firms

8

dont have any financial profit as a goal, and seek to provide g/s for the good of society

non-profit orgs

9

companies who talk directly to consumers without going through a traditional supply chain

direct-to-consumer (DTC)

10

involves providing relevant, valuable, and educational content to potential and current customer at various touhcpoints

content marketing

11

the evolution of _______ has increased the importance of content marketing

technology

12

is provided in variety of ways: videos, news, white papers, e-books, infographics, etc.

content marketing

13

demand for B2B products is (3)

derived, inelastic, and fluctuating

14

does not change relative to a change in price but fluctuates more than demand for consumer products

demand for B2B products

15

the demand for a factor of production or intermediate good that occurs as a result of the demand for another intermediate or final good

derive demand

16

the demand for B2B products is driven by demand for

consumer products

17

for business firms, the buying objective is to -______ through ________

increase profit
reducing costs and increasing sales

18

objective for not-for-profit and gov agencies is to

meet the needs to the groups they serve

19

regardless of if there is an increase or decrease of price of a B2B product, customers will buy still buy same quantity

ineslatic demand

20

small changes in demand for products result in large increases or decreases in demand for the facilities and equipment needed to make the product

fluctuating demand

21

orgs buy p/s to help

achieve their objectives

22

deliberate effort by org buyers to build relationships that shape supplier's products, services and capabilities to fit a buyer's needs and those of its customers

reverse marketing

23

B2B buying decisions are usually driven by a desire to

minimize fear by managing risk

24

more likely to involve complex and lengthy negotiations concerning delivery schedules, prices, warranties, and claim policies

organizational buyers

25

where 2 orgs agree tp purchase each other's products and services

reciprocity

26

when buyer and its supplier adopt mutually beneficial objectives, policies and procedures

supply partnership

27

the decision-making process that orgs use to establish the need for p/s

organizational buying behaviour

28

5 steps to the org buying process

1. problem recognition
2. info search
3. evaluate alternatives
4. purchase decision
5. post-purchase behaviour

29

consists of ppl in an org that participate in the buying process and share common goals, risks, and knowledge to make purchase decisions

buying center

30

the composition of the buying center depend on the

items being purchased