ECON344 Chapter Notes - Chapter 5: North American Industry Classification System, Direct Selling, Marketing Mix
3 Sep 2014
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Describe the nature and composition of b2b markets. Explain the key differences between b2b buying and b2c buying. Explain the ways b2b firms classify and segment their markets. Describe the factors that influence the b2b buying process. Summarize how the internet has enhanced b2b marketing. Resellers: resell manufactured products without significantly altering their form (include: wholesalers, distributors, retailers) Government: largest purchasers of goods and services, canadian government spends billion buying goods & services (largest purchasers, provincial and local governments also make significant purchases, firms specialize in selling to government. Identify the right persons or decision makers within the organisations. Marketers must understand the buying process of each of its potential clients. Identify the factors that influence the buying process of potential clients. Market characteristics: demand for business products is derived, fewer customers, more geographically concentrated, and orders are larger, demand is more inelastic, fluctuates more, and more frequently.
