Deck 7 - Lecture 7 done Flashcards
what does B2B mean
business to business
what does B2B entail
purchase products to meet specific business needs, emphasise economic benefits
what are consumer markets
purchase products to meet individual or family needs, emphasise psychological benefits, buy on impulse
characteristics of business markets
geographically concentrated (more so in the past),
derived demand,
more buyers,
a more professional purchasing effort
what are the different types of business customers
distributors,
original equipment manufacturers (OEMs),
users,
retailers with intermediaries with different roles
example of OEMs (original equipment manufacturers)
michelin tyre on ford focus
what are users (different types of business customers)
not part of final product but used in process (vending machine in factory)
example of users (different types of business customers)
vending machine in factory
classifying business customers
government, institutions
what are institutions
non-for-profit organisations, community based organisations
what can government be split up into
national government,
regional government,
local government
what is something that defence spending includes which you wouldn’t normally think of
socks for soldiers or the food they eat
who is part of the decision making unit *
initiators, gatekeepers, buyers, deciders, users, influencers
what is gatekeepers (decision making unit)
control the flow of knowledge
who are initiators (decision making unit)
individuals who first recognise the problem
who are buyers (decision making unit)
individual given the task of sourcing suppliers and negotiating final deal
who are deciders (decision making unit)
people who make final decision
who are users (decision making unit)
people using the products which are supplied
who are influencers (decision making unit)
trusted advisors (could be absolutely anyone such as family/friends)
who does the influencer influence (decision making unit)
the decider
are buyers risk averse or risk loving
risk averse
what are the three different types of buying situation
straight rebuy,
modified rebuy,
new task
what is an example of a straight rebuy
office supplies
what is an example of a modified rebuy
consulting services, personal computers
what is an example of a new task
custom-built offices
what are the influences shaping organisational buying behaviour
internal,
external (PEST),
individual,
relationship forces
what are internal influences shaping organisational buying behaviour
purchasing structure (integrated vs decentralised)
what is the organisational buying process
problem recognition -> general need description -> product specification -> supplier search -> proposal solicitation -> supplier selection -> order-routine specification -> performance review
