COMMERCE 2MA3 Chapter Notes - Chapter 5: North American Industry Classification System, North American Free Trade Agreement, Nearshoring
11 Mar 2014
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Document Summary
Business-to-business (b2b) marketing: organizational sales and purchases of goods and services to support production of other products, for daily company operations, or for resale. Four major categories define the business market: the commercial market, trade industries, government organizations. Individuals and firms that acquire products to support, directly or indirectly, production of other goods and services. Trade industries: retailers or wholesalers that purchase products for resale to others, resellers, marketing intermediaries that operate in the trade sector. The government category of the business market includes domestic units of government as well as foreign governments. This important market segment makes a wide variety of purchases, such as highways and internet services. Institutions are the fourth component of the business market. This category includes a wide range of organizations, such as hospitals, churches, schools, etc. About 93% of all internet sales are b2b transactions. Many b2b marketers have set up private portals that allow their customers to buy needed items.
