A Business Marketing Perspective Chapter 1

What are Business Markets? “Markets for products and services, local to international, bought by businesses, government bodies, and institutions for incorporation, for consumption, for use, or for resale.”

Business Marketing Management B2B vs. B2C Do firms have to be one or the other? Which is larger? What’s the difference? Business Consumers Commercial enterprises Institutions Government Source: http://sarfarazshaikh.com/b2b-to-b2c-e-commerce/

Business Markets v. Consumer Markets Market-driven firms Characteristics Place customers’ needs first Know the environment Coordinated use of inter-functional resources Capabilities Market-sensing capabilities Customer-linking capability

What Do Business Marketing Managers Do? Partner for Increased Value Create a Value Proposition How? What is a value proposition? Customer solutions

MKT v. “Those Other Guys” Finance Accounting Logistics Customer service R&D Procurement Manufacturing

Characteristics of B2B Derived Demand Fluctuating Demand Stimulating Demand Price Sensitivity Global Marketing Perspective Source: https://postcron.com/en/blog/b2b-marketing-and-b2c-marketing/

B2B v. B2C MKT MIX B2B B2C Promotions Product Price Place

Relationship Marketing What is it? Source: https://blog.drift.com/relationship-marketing/

The Supply Chain “A technique for linking a manufacturer’s operations with those of its suppliers, intermediaries, and customers to increase effectiveness and efficiency.” Shifts in SCM Cespedes’ “concurrent marketing”

Commercial Enterprises Users OEMs Dealers Types Users Original Equipment Manufacturers (OEMs) Dealers & Distributors Understand buying intentions

Classifying Goods for the Business Market Entering Goods Raw materials Manufactured materials and parts Foundation Goods Installations Accessory goods Facilitating Goods Supplies Services Maintenance and repair support Advisory support