Management and Organizational Studies 2320A/B Chapter Notes - Chapter 5: Retail, Personal Taste, North American Industry Classification System

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Business-to-business marketing: the process of buying and selling goods or services to be used in the production of other goods and services, for the consumption by the buying organization, or for resale by retailers and wholesalers. Identify the factors that influence the buying process of potential clients. 1: differences between b2b and b2c markets, marketing characteristics. In b2c, consumers by goods to satisfy their own needs: heavily influenced by price, personal taste, brand and personally recommendations. In b2b, products ordered are primarily raw materials and semi-finished goods. In b2b, buyers and sellers strive to develop close relationships to try and create a win-win partnership. Issues with a reciprocal buying arrangement are: excludes other vendors from the buying process, li(cid:373)its the fir(cid:373)"s to ea(cid:272)h other"s products, marketing mix characteristics, the role of the salesperson is another major difference. In b2c, the use of a salesperson is not always required. In b2b, a salesperson is an integral component of every transaction.