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Lecture 6

MKT 100 Lecture Notes - Lecture 6: Business Marketing, Marketing Week, Direct Selling

Course Code
MKT 100
Laila Rohani

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Sunday, February 22, 2015
Marketing Week 5
B2B Marketing: The process of buying and
selling goods/services to be used in the
production of other goods/services for
consumption by buying organization or for
resale by wholesalers and retailers
Manufacturers: Manufacturers work with
corporate partners like raw suppliers,
transportation companies & retailers!
Resellers: Marketing intermediates that resell manufactured products without significantly
altering their form.!
Institutions: (Hospitals, schools, prisons, etc) Purchase goods/services for the people they
Government: Canadian general government spends about $420 billion annually (Health care,
technology, etc)
Differences between Business and Consumer Markets:
Market Characteristics!
-Demand for business products is derived !
-Fewer customers, more geographically concentrated, and orders are larger!
-Demand is more inelastic, fluctuates more, and more frequently
Product Characteristics!
-Products technical in nature, purchased based on specifications!
-Mainly raw and semi-finished goods!
-Heavy emphasis on delivery time, technical assistance, after sale service, financing
Buying Process Characteristics:!
-Buying decisions more complex!
-Competitive bidding, negotiated pricing, complex financial arrangements!
-Qualified, professional buyers - more formalized buying process!
-Buying criteria and objective specified !
-Multiple participants in purchase decisions!
-Reciprocal arrangements common!
-Close long-term relationships!
-Online buying common
Marketing Mix Characteristics !
-Direct selling and physical distribution often essential!
-Advertising more technical, promotions emphasize personal selling!
-Price often negotiated, inelastic, affected by trade/quantity discounts
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