Introduction

Question 1

What is a market?

Answer 1

Could be a public space, where people buy and sell goods, a building, online. A mechanism for meeting induvidual and organizational needs

Question 2

What is a “Business market” (B2B - market)

Answer 2

The customer is an organization rather then an individual.

Question 3

Business purchasing, all sales in of business products equals a purchase. Why is business purchasing and buying behaviour importantto understand?

Answer 3

1. To understand the needs of the customers
2. To make the most out of its own purchasing activities

Question 4

What are the purchasing trends?

Answer 4

• Outsourcing and specialisation, and insourcing again
• Reduction of the supplier base
• Changing content in the supplier relationships

Question 5

What are some common B2B market products?

Answer 5

Selling firm perspective: Installations, accessory equipment, raw materials, manufactured materials, business services

Buying firm perspective: Convenience products, preference products, shopping products and specialty products

Question 6

Both business marketers and purchasers in B2B needs to handle..

Answer 6

1. Variety in terms of business transactions
2. From quick decisions to long sales processes with many involved in purchasing decisions
3. Individual business partners and financially significant
4. Derived demand and accelerator effects
5. Technology important, and increasingly so
6. Sustainability as a driving force for change in business
7. An internal context
8. Working relationships and business networks.

Question 7

Two approaches for B2B selling companies

Answer 7

1. The marketing mix
2. The interaction approach

Question 8

What is the basis for success?

Answer 8

• Engineering and manufacturing competence
• Customer service knowledge
• Building partnerships

Question 9

Explain CVP (Customer value proposition)

Answer 9

Captures the particular set of benefits that a supplier offers to advance the performance of the customer organization

Question 10

Relationship value

Answer 10

There is a value in the relationship that goes beyond the direct product value.

Question 11

Explain the marketing mix approach

Answer 11

It´s a strategic framework that businesses can use to plan out their marketing approach. It consists of

Price
Product
Place
Promotion

That are key elements that companies can control in order to influence the consumer behavior

Question 12

What are the main takeaways from the paradigm shift in the 80ies?

Answer 12

1. Companies develop long term business relationships. Close collaboration led to huge impact on both technology and economical development
2. Understanding business relationships as a phenomena
3. Changed view of rational market behaviour and on the structure of markets (industrial networks)

Question 13

Explain the interaction approach

Answer 13

This approach recognizes that communication is not just about the transmission of messages but involves a complex exchange of meanings between individuals or groups. What happens in a relationship between two companies depends on the environment. In the course we will refer to this industrial system as a network. The interaction between two companies affect, and is affected, by other relations in the network.

Question 14

What is the main differences between the two views on business marketing?

Answer 14

Marketing mix
- Average behaviour
- Many buyers
- Skew relation
- Low degree of returning customers

Interaction approach
- Unique customers
- Few buyers
- Symmetric relation
- High degree of returning customers

Question 15

The difference between business markets and customer markets

Answer 15

Market structure difference
- Derived demand rather than direct demand
- Accelerator effect
- Higher concentration ratios

Buying behavior differences
- Professional buyers

Marketing practise differences
- Relational marketing strategies