BU352 Chapter Notes - Chapter 5: Marketing Mix, Regional Policy Of The European Union, North American Industry Classification System
Document Summary
Manufacturers or producers: manufacturers buy raw materials, components and parts that allow them to manufacture their own goods, purchasing agents receive product descriptions directly from suppliers online, which means search processes that used to take two hours now require about nine minutes, users of the system receive alerts of potential parts shortages before they occur and thus can focus on efficiencies instead of redundant paperwork, many b2b companies are demanding as a condition for doing business that suppliers demonstrate social responsibility by putting in place policies and practices to reduce their carbon footprint. 3 key challenges for each business customer they want to serve: identify the right persons or decision makers within the organizations who can authorize or influence purchases, markets must understand the buying process of each potential client, identify the factors that influence the buying process of potential clients, to address the complexity of b2b markets many companies have salespeople or a sales team dedicated to specific clients.
