MKT 100 Chapter Notes - Chapter 6: Regional Policy Of The European Union, Direct Selling, Liquid Oxygen

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

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. Institutions: for instance, wholesalers and distributors buy jeans from 7 for all. Mankind and sell them to retailers (a b2b transaction), and retailers in turn resell those same jeans to the ultimate consumer (a b2c transaction). Let us now explore in a little more detail, some of the unique characteristics of b2b markets that distinguish them from b2c markets. Market characteristics: demand for business products is derived, fewer customers, more geographically concentrated, and orders are larger, demand is more inelastic, fluctuates more, and more frequently. Product characteristics: products are technical in nature and purchased based on specifications, mainly raw and semi-finished goods are purchased, heavy emphasis is placed on delivery time, technical assistance, after-sale service, and financing assistance.