BUSI 520 Chapter Notes - Chapter 7: Vendor-Managed Inventory, Group Dynamics, Opportunism
2 Mar 2018
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Business market: consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others. B2b marketing hurdles (3: building stronger interfaces between marketing and sales, building stronger innovation-marketing interfaces, extracting and leveraging more granular customer and market knowledge. Contrast between business markets and consumer markets (10: fewer, larger buyers, close supplier-customer relationships, professional purchasing, multiple buying influences, multiple sales calls, derived demand. Inelastic demand: fluctuating demand, geographically concentrated buyers, direct purchasing. Buying situation types (3: straight rebuy, purchasing department reorders items, modified rebuy, wants to change product specifications, prices, delivery requirements, or other terms, new task, purchaser buys a product or service for the first time. Buying center: typically has five or six members, usually include participants with differing interests, authority, status, susceptibility to persuasion, and sometimes very different decision criteria. Small sellers: concentrate on reaching the key buying influencers.
