MKT 100 Study Guide - Midterm Guide: Retail, Direct Selling, Marketing Mix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Helene Moore

Document Summary

A business that markets its products and services to other businesses. The volume of b2b transaction is much higher than volume of b2c transactions. B2b market research is more complex to conduct. An average airplane has 787 structure suppliers: their parts are outsourced from countries like: usa, japan, china, uk. Manufacturers buy raw materials that allow them to manufacture their own goods. Resellers resell manufactured products without altering them: ex: wholesalers, distributors and retailers. Institutions hospitals, schools, museums, prisons, nonprofit organizations etc. buy goods for people they serve. Government largest purchaser of goods and services and firms specialize in selling to govt. Companies purchase components and other raw materials for use in its manufacturing processes. Any b2b consultation services (consultants who provide an expert advice) Hr benefits and insurances for big companies. Market characteristics: demand for business products is derived, demand is more inelastic, fluctuates more, and more frequently. Fewer customers, more geographically concentrated, and orders are larger.