MKT 100 Chapter Notes - Chapter 6: Reverse Auction, Rebus, English Auction
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MKT 100 Full Course Notes
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B2b market: b2b process of buying and selling goods that used in the production of other goods for consumption by buying organization, or for resale by wholesalers and retailers. Difference between b2b and b2c is the ultimate purchaser and user of that product: manufacturers or producers. Institutions (hospitals, educational organizations, prisons, religious organizations and non-profit organization: government- largest purchasers of goods and services, the challenges of reaching b2b clients: a. Identify the right persons or decision makers within the organization who can authorize or influence purchases: marketers must understand the buying process of each of its potential clients c. Identify the factors that influence the buying process of potential clients: difference between b2b and b2c, market characteristics: B2c: consumers buy goods to satisfy their own individual needs and are heavily influenced by price, personal tastes, brand reputation or personal recommendations of friends and family. B2b: demand for goods and services is derived from b2c sales in the same supply chain.
