BU352 Lecture Notes - Lecture 5: Retail, Marketing Mix, North American Industry Classification System
Document Summary
Key challenges of reaching b2b clients: for marketers to be effective and successful at b2b marketing, they must master three key challenges for each business customer they want to serve, 1. Identify the right persons or decisions makers within the organizations who can authorize or influence purchases: 2. Marketers must understand the buying process of each potential client: 3. Identify the factors that influence the buying process of potential clients. B2c transactions, such as sales of real estate, insurance, jewellery, etc: in b2b markets, the salesperson is an integral component of the transaction, e. g. Just as in the consumer buying process, firms analyze their vendors" performance so they can make decisions about their future purchase: difference is that in b2b the analysis is much more formal, 1. Buying team develops a list of issues that it believes are important to consider in the vendor evaluation: 2.
