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Marketing Chapter 6 - Business to Business Marketing (B2B) (from someone else - second)

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Business-to-business (B2B) marketing
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Terms in this set (31)
• Business-to-business (B2B) marketing: process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers.
• Involves manufacturers, wholesalers, retailers, and service firms that market goods and services to other businesses but not to the ultimate consumer.
• The distinction between a B2B and a B2C transaction is not the product/service itself; rather, it is the ultimate purchaser and user of that product or service.
• Ex: selling jeans to an industrial supply firm, which then sold them to a custodial firm whose employees would wear them on the job, the transaction would be a B2B transaction because the jeans are being purchased and used by a business rather than by an individual household consumer.
• Just like B2C orgs, B2B firms focus on serving specific types of customer markets to create value for those customers Ex: RBC maintains a dedicated group of account executives to service its small business and commercial banking clients.
• Many firms find it more productive to focus their efforts on key industries or market segments rather than on ultimate consumers.
• Manufacturers, resellers, institutions, and governments are all involved in B2B transactions
• Manufacturers/Producers: biggest B2B buyers. They buy raw materials, components, and parts that allow them to manufacture their own goods. They must manage suppliers and transportation intermediaries closely to minimize any inventory shortages or overages, as well as to ensure on-time.
o Today, many B2B companies are demanding, as a condition for doing business, that suppliers demonstrate social responsibility by using policies and practices to reduce their carbon footprint.
o You can save money while improving its corporate image by being more socially responsible