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Chapter 5

BU352 Marketing Chapter 5

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University of Waterloo
ECON 344
Deborah Reyner

BUSWeek 4Oct042012Chapter 6 BusinesstoBusiness Marketing B2BDescribe the nature and composition of B2B marketsExplain the key differences between B2B buying and B2C buyingExplain the ways B2B firms classify and segment their marketsDescribe the factors that influence the B2B buying process Summarize how the Internet has enhanced B2B marketingManufacturers or ProducersBuy raw materials components or partsManufacture their own goodsResellers resell manufactured products without significantly altering their form include wholesalers distributors retailersManufactureResellerRetailerInstitutionsSchools Museums Religious OrganizationsGovernmentLargest purchasers of goods and servicesCanadian Government spends 240 billion buying goodsservices largest purchasersProvincial and local governments also make significant purchasesFirms specialize in selling to governmentKey Challenges of Reaching B2B ClientsIdentify the right persons or decision makers within the organisationsMarketers must understand the buying process of each of its potential clientsIdentify the factors that influence the buying process of potential clientsCharacteristics of Business MarketsDifferences between B2B B2CMarket CharacteristicsDemand for business products is derived Fewer customers more geographically concentrated and orders are largerDemand is more inelastic fluctuates more and more frequentlyB2B BusinesstoBusinessDemand for goods and services is derived from B2C sales in the same supply chainNumber of business buyers is fewer in the marketmost in big citiesSize of the orders are largerB2C BusinesstoConsumers1
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