MKTG 341 Lecture Notes - Lecture 5: Original Equipment Manufacturer, Retail, Critical Role
23 Feb 2017
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Business to business: business selling to other businesses. Buying teams: group that evaluates bids from other companies. Us government spends . 1 trillion procuring goods. State and local governments also make significant purchases. Need recognition product specification rfp process proposal analysis and supplier selection order specification vendor/performance assessment using metrics. Critical role now played by social media: prospect will evaluate you online prior to contact, (cid:862)co(cid:374)te(cid:374)t (cid:373)arketi(cid:374)g(cid:863) o(cid:374)li(cid:374)e (cid:449)ill deter(cid:373)i(cid:374)e if you are (cid:272)o(cid:374)ta(cid:272)ted at all. Need recognition: have a problem, need to be addressed. Product specifications: used by suppliers to develop proposals; a document describing all this, can be done collaboratively with suppliers. A very detailed document specifying the general requirements. Proposal analysis, vendor negotiation and selection: analyze vendor proposals, often several vendors are negotiating against each other, considerations other than price play a role in final selection. Order specification: vendor is chosen, firm places the order, exact details of the purchase are specified, all terms are detailed including payment.
