BUSI 2204 Lecture Notes - Lecture 5: Business Marketing, Business Network, Retail
30 Sep 2020
School
Department
Course
Professor
business marketing
B2B marketing
- Activer interaction between businesses to ensure their needs are met
-Trust, mutual respect, understanding, don’t buy from jerks
- Active buyer as opposed to consumer marketing which has a passive buyer
- Both want to interact, more dominant says “why should I deal with you”
- Difference b2b b2c is complex nature of relationships and interactions that form buying
process and customer life cycle that lasts months or years
- Network of individuals, buyer, seller, 3rd party partners who have different needs and
interests
Interaction in business marketing
- Relationships in business marketing
- Involve greater commitment from both sides, and thus more company resources
and effort
Moving from interruption to interaction
- Interruption approach - one off transactions generating short term revenue and profits
- Interaction approach - culmination of numerous transactions between 2 businesses that
builds over time
Networks in business marketing
- 3 approaches
- Sales approach
- Generating leads and new business through various sales or persuasion
techniques
- Market management approach
- Develop product, prices, places, and promote it to waiting set of
customers
- Network approach
- Research the factors and forces around the firm, understand the
environment
Network approach
- Leads development of relationships through interactions over time
- Cooperation happens organically as values of relationship and cooperation is clearly
evident
Document Summary
Activer interaction between businesses to ensure their needs are met. Active buyer as opposed to consumer marketing which has a passive buyer. Trust , mutual respect, understanding, don"t buy from jerks. Both want to interact, more dominant says why should i deal with you . Difference b2b b2c is complex nature of relationships and interactions that form buying process and customer life cycle that lasts months or years. Network of individuals, buyer, seller, 3rd party partners who have different needs and interests. Involve greater commitment from both sides, and thus more company resources and effort. Interruption approach - one off transactions generating short term revenue and profits. Interaction approach - culmination of numerous transactions between 2 businesses that builds over time. Generating leads and new business through various sales or persuasion techniques. Develop product, prices, places, and promote it to waiting set of customers. Research the factors and forces around the firm, understand the environment.
