BU352 Chapter Notes - Chapter 5: North American Industry Classification System, Retail, Group Purchasing Organization
Document Summary
Business-to-business (b2b) marketing: refers to the process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers. Therefore, b2b marketing involves manufacturers, wholesalers, retailers, and service firms t. The distinction between a b2b and a b2c transaction is not the product or service itself; rather, it is the ultimate purchaser and user of that product or service. Lo1 describe the nature and composition of b2b markets. Just like organizations that sell directly to final consumers in b2c transactions, b2b firms focus their efforts on serving specific types of customer markets to create value for those customers. Many firms find it more productive to focus their efforts on key industries or market segments rather than on ultimate consumers. Manufacturers buy raw materials, components, and parts that allow them to manufacture their own goods.
