Topic 5 - B2B Flashcards Preview

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Flashcards in Topic 5 - B2B Deck (13)
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1
Q

What are the types of B2B?

A
  • Trade
  • Industrial
  • Professional influencers/opinion leaders
2
Q

Key factors involved in organisational buying?

A
  • Longer buying processes
  • Fewer buyers - stronger relationships
  • More rational transaction
  • reciprocal buying e.g Negotiations based on helping each other
3
Q

What is the DMU?

A
  • decision making unit

- in b2b markets its very rare for an individual to make all the decisions

4
Q

What are the 6 parts involved in the DMU?

A
Initiator
User
Influencer
Decider
Buyer
Gatekeeper
5
Q

What is an initiator?

A

Someone who begins the purchase process and makes the first initial contact

6
Q

What is a user?

A

People who use the end product. May trigger purchasing process through reporting a need

7
Q

What is an influencer?

A
  • Affects the outcome of the decision making process through their influence on others
8
Q

What is a decider?

A

Have the formal or informal authority to make the decision

9
Q

What is the buyer?

A

They have the authority to select and negotiate with suppliers

10
Q

What is a gatekeeper?

A

Control flow into the next stages

11
Q

What is joint demand?

A
  • Demand for one product is tightly coupled with demand for other
12
Q

What are the three types of B2B buying?

A
  • New task purchase e.g customer goes to you because they have a new problem
  • Straight re-buy e.g routine purchasing of same product
  • Modified re-buy - Existing customers come back but want new things/have new needs
13
Q

What is CRM?

A

Customer relationship management is a process where firms gather info about the wants and needs of its customers to allow offers to fit their needs