MKT 100 Lecture Notes - Lecture 7: Business Marketing, Marketing Management, Competitive Intelligence

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MKT 100 Full Course Notes
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Business-to-business marketing (b2b: a process of matching capabilities between two business entities to create value for both. It is marketing done differently: the active connection between businesses to ensure needs are met (based on trust and mutual respect and achievement of goals through cooperation, relationships are critical because there are so few. What makes b-2-b different from consumer marketing is the complex nature of relationships and interactions that form a buying process and customer life cycle that lasts months or years. It involves a network of individuals from buyer, seller, and even third-party partners who have different needs and interests . Relationships in business: more complex and have 2 aspects -- trust & commitment, shared vision & goal congruence are important to develop trust, shared vision and goal congruence are important to develop trust. Interaction in business marketing: from interruption to interaction: short term to long term vision (e. g. auto leasing)

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