BU352 Chapter Notes - Chapter 7: English Auction, North American Industry Classification System, Marketing Mix
Document Summary
Business-to-business (b2b) marketing the 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. Resellers marketing intermediaries that resell manufactured products without significantly altering their form. Wholesalers and distributors buy jeans and resell them to retailers who then resell them to consumers. North american industry classification system (naics) codes a classification scheme that categorizes all firms into a hierarchical set of six-digit codes. Can be quite useful to b2b marketers for analyzing market shares, demand for goods and services etc. Fewer customers, more geographically concentrated, larger orders. Demand is more inelastic, fluctuates more, and more frequently. Mainly raw and semi-finished goods are purchased. Heavy emphasis placed on delivery time, technical assistance, after sale service, and financing. May involve competitive bidding, negotiated pricing and complex financial arrangements. Buyers and sellers usually work closely to build close long-term relationships.
