BU352 Chapter Notes - Chapter 5: North American Industry Classification System, Retail, Marketing Mix
Document Summary
The process of buying and selling goods or services to be used in the production of others goods and services, for consumption by the buying organization, or for resale by the wholesalers and retailers. Involves manufacturers, wholesalers, retailers, and service firms that market foods and services to other businesses but not to the ultimate consumer. Distinction between b2b and b2c is not the product itself, but the ultimate purchaser and user of that product. B2b firms focus efforts on serving specific types of customer markets to create value for those customers. Manufacturers, resellers, institutions, and governments are all involved in b2b transactions. Manufacturers buy raw materials, components, and parts that allow them to manufacture their own goods. Marketing intermediaries that resell manufactured products without significantly altering their form. E. g. wholesalers buy jeans from levi and sell them to retailers (b2b transaction), and retailers in turn resell those jeans to the ultimate consumer (b2c) Wholesalers, distributors, and retailers are all resellers.
