Business to Business Buying Process (5)

Question 1

A business can refer to…

Answer 1

Companies
Government entities
Academic institutions
Organizations
Associations
Distributors

Question 2

With consumer purchases, the transaction sizes are much ______. In contrast, business purchases tend to be much ______.

Answer 2

smaller, larger

• With consumers there are thousands to millions of consumers, and the transaction range is slight. Losing one consumer customer usually doesn’t have that much of an impact on a company’s bottom line.
• businesses and are concentrated on a smaller number of (business) buyers. Landing one large B2B sale can make a huge difference in a company’s revenues.

Question 3

Which will have a greater impact on a business, the loss of one customer or the loss of a business buyer/seller?

Answer 3

business buyer/seller

Question 4

Which is more complex, B2B purchases or consumer purchases?

Answer 4

B2B

• With a consumer purchase, an individual usually makes a purchase decision for him- or herself based on his or her wants or desires. A B2B purchase may have a committee or even an entire decision-making unit deciding on a purchase.

Question 5

A B2B puches may have a ______ or even an entire decision-making unit deciding on a purchase.

Answer 5

committee

Question 6

In the B2B buyer behavior process, the focus is on the customer ______.

Answer 6

relationship

Question 7

Where marketing for consumer goods might focus on ______ the product or brand, the focus on the B2B marketing is on the ______ between the buyer and seller.

Answer 7

advertising, relationship

Question 8

What are some examples of relationship marketing?

Answer 8

money spent on things like meetings, luncheons, gifts, and outings. Instead of mass advertising, more budget is spent on face-to-face meetings.

Question 9

Also, as the B2B purchases are ______ term, they often require ongoing support.

Answer 9

longer

Question 10

What should marketing efforts include?

Answer 10

The marketing efforts should include budget to maintain service and support for previous purchases to ensure ongoing business relationships.