Lecture 3 - B2B and B2O markets + dealing with competition

Question 1

What is organizational buying?

Answer 1

The formal decision-making process where organizations identify needs, evaluate options, and purchase goods or services.

Question 2

How does B2B differ from B2C?

Answer 2

B2B involves professional purchasing, multiple decision-makers, and derived demand, while B2C focuses on individual consumer decisions and emotional factors.

Question 3

What are the types of buying situations?

Answer 3

New task (first-time purchase)
Modified rebuy (adjustments to a previous purchase),
Straight rebuy (reorder without any modifications).

Question 4

What is the buying center?

Answer 4

The group of individuals involved in a purchasing decision, including roles like influencers, decision-makers, and users.

Question 5

Identifying competitors

Answer 5

Competition are companies that satisfy the same customer need

Question 6

Analyzing competitors

Answer 6

What are their:
Strategies & Objectives

• Strengths and weaknesses
• Share of market