BUAD 307 Chapter Notes - Chapter 7: North American Industry Classification System, Retail, Web Portal
3 Oct 2016
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Describe ways in which b2b firms segment their markets. Manufacturers/service providers buy raw materials, components, and parts that allow them to make and market their own goods and ancillary services. Buy from manufacturers and sell to other businesses like retailers in a. B2b transaction: retailers marketing intermediary that resells manufactured products without significantly altering their form. Institutions includes non-profit organizations fulfill needs for capital construction, equipment, supplies, food, and janitorial services. Government central market is one of the largest purchasers of goods and services. List the steps in the b2b buying process. Stage 1: need recognition consider alternatives as well. Stage 2: product specification exactly what they are looking for. Stage 4: proposal analysis, vendor negotiation, and selection evaluate all proposals given in response to the rfp process. Buying center group of people typically responsible for the buying decisions in large organizations. Initiator: person who first suggests buying the particular product or service.
