Management and Organizational Studies 2320A/B Chapter 5: Chapter 5

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Ben Marcus

Document Summary

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. B2b firms focus on specific types of markets to create value for those customers. Focus efforts on key industries or market segments rather than ultimate consumers. Buy raw materials, components, and parts that allow them to manufacture their own goods. Many b2b companies are demanding social responsibility from them. Marketing intermediaries that resell manufactured products without significantly altering their form. Also institutions like hospitals, schools, prisons, religious organizations, etc. Identify the right persons or decision makers within the organizations who can influence purchases. Understand the buying process of each potential client. Identify the factors that influence the buying process of potential clients. Heavily influenced by price, personal tastes, brand reputation, and family/friend recommendations. B2b markets: demand for goods & services derived from b2c sales.