COMMERCE 2MA3 Chapter 5: Chapter 5.docx
8 Dec 2014
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Document Summary
Organizational sales and purchases of goods and services to support production of other products, to facilitate daily company operations, or for resale. 4ps of b2b: product, price, promotion, emphasis on personal selling, content marketing: creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience, distribution. Commercial market: individuals and firms that acquire products to support, directly or indirectly, production. Trade industries: retailers or wholesalers that purchase for resale. Governments and institutions: often preferred bidding lists, formal rules and processes. Public, private, partnership (p3s): long term performances based approach for buying/upgrading/installing public infrastructure, where private sector takes the most risk. Global sourcing: purchasing goods and services from suppliers worldwide. Inelastic demand: demand that will not change due to price. Offshoring: movement of high-wage jobs from one country to lower-cost overseas location. Nearshoring: moving jobs to vendors in countries close to the business"s home country.
