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Marketing Chapter 6.docx

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Department
Administration
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ADM2320
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All

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Marketing Chapter 6 BusinesstoBusiness Marketing 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 retailersB2B Markets focus their efforts on serving specific types of customer markets to create Manufacturers or Producers Some of the biggest B2B buyers are manufacturers and producersResellers Marketing intermediaries that resell manufactured products without significantly altering their form Institutions Such as hospitals educational organizations prisons religious organizations and other nonprofit organizations also purchase all kinds of goods and services for the people they serveGovernment In most countries the central government tends to be one of the largest purchasers of goods and services Key Challenges of Reaching B2B Clients For marketers to be effective and successful at B2B marketing they must master three key challenges for each business customer they want to serveIdentify the right persons or decisions makers within the organizations who can authorize or influence purchasesUnderstand the buying process of each of its potential clientsIdentify the factors that influence the buying process of potential clients Differences Between B2B and B2C MarketsMarket CharacteristicsConsumers buy goods to satisfy their own individual or household needs and are heavily influenced by price personal tastes brand reputation or personal recommendations of friends and family
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