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B2B Test #1 > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

what is b2b marketing?

A

process of matching capabilities of the supplier with desired outcomes of the customer to create value for the “customer’s customer”

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2
Q

total offering

A

created by a partnership between the buying organization and the marketing organization

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3
Q

total offering equation

A

core product + financing terms + delivery options

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4
Q

augmented product

A

something specific to buying unit’s needs to maximize value creation capabilities for marketer

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5
Q

price

A

measure of value exchanged and is determined by market, not costs

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6
Q

place

A

getting the product to the customer to maximize economic utility

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7
Q

economic utility is made up of

A

form, possession, time, place

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8
Q

difference between consumer MKT and B2B MKT: promotion

A

b2b

  • more personal selling
  • communication through dialogue
  • relationship lasts long
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9
Q

difference between consumer MKT and B2B MKT: market structure

A

b2b

  • geographically concentrated
  • few buyers
  • oligopolistic competition
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10
Q

difference between consumer MKT and B2B MKT: products

A

b2b

  • technically complex
  • customized
  • service, delivery and availability are important
  • purchased for other than personal use
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11
Q

difference between consumer MKT and B2B MKT: buyer behavior

A
  • professionally trained
  • functional involvement
  • task motivates predominate
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12
Q

difference between consumer MKT and B2B MKT: expectations

A
  • technical expertise is an asset
  • interpersonal relationships
  • significant personal info exchanged
  • stable, long term relationships encourage loyalty
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13
Q

difference between consumer MKT and B2B MKT: channels

A
  • shorter, more direct

- organization involvement as part of supply chain

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14
Q

difference between consumer MKT and B2B MKT: promotion

A
  • emphasis on personal selling, dialogue
  • most communication invisible to consumer
  • consumer is seldom aware of B2B brands and companies
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15
Q

difference between consumer MKT and B2B MKT: price

A
  • B2b complex purchasing process or competitive bidding, depending on purchase type
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16
Q

difference between consumer MKT and B2B MKT: demand

A
  • derived
  • inelastic (short run)
  • volatile (leveraged)
  • discontinuous
17
Q

concept of derived demand

A

nothing happens unless consumer buys something

18
Q

acceleration principle

A

bullwhip effect

19
Q

bullwhip effect

A

suppliers forecast production orders. consumer demand drops and supply chain members overcompensate

20
Q

international standards organization ISO

A
  • define technical performance for manufacturing and quality systems
  • global firms require compliance of suppliers to these
21
Q

ISO industries that are targeted

A

steel, plastic, pulp/paper products, chemicals, electronics

22
Q

evaluated price

A 
total cost of owning or using a product
- transportation 
- carrying costs
- financial costs
- installation
etc
23
Q

total offering =

A 
product
service
image
availability
quantity
evaluated price
24
Q

value chain definition

A

the chain of activities that creates something of value for targeted customers

25
Q

value chain breaks off into

A

direct activities and support activities

26
Q

direct activities

A

contribute directly to the offering

27
Q

support activities

A

make it possible to perform the direct activities

28
Q

value enabling activities

A 
infrastructure
human resources
procurement 
technology
technology development
29
Q

value creating activities

A

inbound and outbound logistics
operations
marketing and sales
customer service

30
Q

trends and changes in business marketing

A
  • hyper competition
  • formation of partner networks
  • adoption of technology/internet
  • supply chain management
  • time compression

B2B Test #1 (5 decks)

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