Ch.6 Business Mktg

Question 1

___ are critical in B2B Mktg bcuz of FEWness

Answer 1

Relationships

Question 2

Buyer is
Passive or Active in
Cx Mktg vs B2B Mktg

Answer 2

Cx Mktg: Passive*
Biz Mktg: Active

Recently changing ∵ tech/ social media

Question 3

B2B different from Cx Mktg because..

Answer 3

Relationships & Interactions forming buying process & Cx lifecycle lasting months or yrs

Question 4

Building Business Relationships needs __ & __

Answer 4

Commitment / Trust

Question 5

Interaction is about engaging w/ Cx & creating __ & __ to share

Answer 5

Content / Experience

Question 6

3 Approaches of B2B Mktg

Answer 6

1. Sales approach
2. Market Mngt approach
3. Network approach

Question 7

4 Types of Demand

Answer 7

1. Derived Demand
   bought & used in Cx’s products
2. Inelastic Demand
   price not affecting
3. Joint Demand
   multiple demands used for final product.
   sales of products directly linked, e.g. razor & blade
4. Fluctuating Demand
   less stable ∵ multiplier effect
   e.g. equipment/ plant

Question 8

A small ↑ or ↓ in Cx demand produce much larger change in facilities & equip demand to make Cx product

Answer 8

Multiplier Effect

Question 9

Fundamental Aspects of B2B Mktg

Answer 9

1. Types of Demand
2. Number of Cx
3. Location of Buyers
4. Type of Negotiations
5. Use of Reciprocity
6. Use of Leasing
7. Types of Biz Products
   major equip/ accessory equip/ raw materials/ component parts & materials/ supplies

Question 10

Actions not necessarily part of the final product but may have direct impact on Cx’s willingness to buy & maintain relationship

Answer 10

Business Services

Question 11

4 Categories of Classifying Business Customers

Answer 11

1. Producers
   profit-oriented entities
2. Resellers
   retailer & wholesaler
3. Government
   largest segmt, FED/MASH
4. Institutions
   goals might be different from biz, e.g. club/ union/ non-biz/ foundation

Question 12

People in org involved in purchase decision

Answer 12

Buying Center

• Membership & influence vary
• # of ppl varies w/ complexity & importance
• Composition changes in purchases
• Nature: Formally
• Nature of Buying Influence: More ppl involved
• Roles: People may play a role in process

Question 13

3 Implications of Buying Centres

Answer 13

1. Identify decision-making unit
2. Each member’s influence
3. Each member’s evaluative criteria

Question 14

Business Purchasing Roles

Answer 14

• Initiator suggest
• Influencer/Evaluator define spec & provide evaluating options e.g. IT
• Gatekeeper regulate info flow/ schedule appmt
• Decider choose/approve
• Purchaser negotiate
• User

Question 15

Business Buying Situations/ Behaviours

Answer 15

1. New Task Buy
   1st-time
2. Modified Rebuy
   less critical & time-consuming
3. Straight Rebuy
   vendors prefer, not looking for new suppliers/info

Question 16

“The backbone of economic activities in the modern world”
can be some stability with a straight rebuy

Answer 16

Supplier-Buyer Relationship

Question 17

3 Evaluative Criteria for Business Buyers

Answer 17

Quality
Service
Price

Question 18

4 Reasons of 60% Canadian companies not taking adv of online presence

Answer 18

1. Data Concern
2. Lack of Understanding req.
3. Challenges in hiring
4. Data Breaches

Question 19

3 Trends of B2B Online Marketing

Answer 19

1. Growth of Mobile
2. Content Mktg
   *online presence to get word out about company9
3. Social Media

Question 20

___ groups G/S businesses of identical/ similar producing processes, makes searching/ finding companies efficiently in different industries across North America

Answer 20

NAICS

North America Industry Classification System