B2B Marketing Exam Review PDF

Ch.7 B2B Marketing (about 8-9 questions from Ch. 7). - B2B Markets Manufacturer →Manufacturer Manufacturer →Reseller Manufacturer →Government and institutions Reseller →other businesses, government and institutions Service provider → other businesses,...

Ch.7 B2B Marketing (about 8-9 questions from Ch. 7). - B2B Markets Manufacturer →Manufacturer Manufacturer →Reseller Manufacturer →Government and institutions Reseller →other businesses, government and institutions Service provider → other businesses, government and institutions - B2B Buying Process (several questions) Need recognition → Product specification → RFP process → Proposal analysis, vender negotiation, and selection → Order specification → Vender performance assessment using metrics - New buy, Modified rebuy, Straight rebuy New buy - Most likely when purchasing for the first time. - Usually quite involved. - The buying center will probably use all six steps in the buying process and involve many people in the buying decision. Modified rebuy - Purchasing a similar product but changing specifications such as price, quality level, customer service level, options, etc. - Current vendors have an advantage. - Often skip RFP and vendor selection Straight rebuy - Buying additional units of products that have been previously purchased. - Most B2B purchases fall into this category. - Usually, the buyer is the only member of the buying center involved. - Buying Center Initiator (Doctor) -- first suggests buying the product Influencer (Hospital Pharmacy) – influences other members in buying decision Decider (Hospital Financial Officer) – ultimately determines the buying Buyer (Materials Manager) – handles the paperwork of the actual purchase User (Patient) – consumes or uses the product Gatekeeper (Insurance company) – controls information or access to decision makers and influencers - Buying Culture Autocratic (-- One person makes the buying decision alone even though there may be multiple participants (e.g., small private company owned by one person). Democratic – The majority rules (e.g., public institutions) Consultive – One person makes the decision but solicit input from others (e.g., large corporations)  Consensus – All members of buying center should agree to buy (e.g., some cooperatives) -