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Business-to-business (B2B) market is significantly larger than the consumer market. Example: U.S. companies spend more than $300 billion annually just for office and maintenance supplies. Example: Department of Defense budget in a recent year was $500 billion. Business-to-business (B2B) marketing Organizational sales and purchases of goods and services to support production of other products, to facilitate daily company operations, or for resale.
North American Industry Classification System Classification used by NAFTA countries to categorize the business marketplace into detailed market segments.
BUYER-SELLER RELATIONSHIPS
Often more complex than in consumer market.
DERIVED DEMAND
The linkage between demand for a companys output and its purchases of resources such as machinery, components, supplies, and raw materials. Example: Demand for computer microprocessor chips is derived from demand for personal computers. Organizational buyers purchase two types of items: Capital itemslong-lived business aspects that depreciate. Expense itemsitems consumed within short time periods.
VOLATILE DEMAND
Derived demand creates volatility. Example: Demand for gasoline pumps may be reduced if demand for gasoline slows.
JOINT DEMAND
Results when the demand for one business product is related to the demand for another business product used in combination with the first item. Example: If lumber supply falls, then decrease in construction will affect concrete market.
INELASTIC DEMAND
Demand throughout an industry will not change significantly due to a price change. Example: Construction firms will not necessarily buy more lumber if prices fall unless overall housing demand also increases.
INVENTORY ADJUSTMENTS
Just-in-time (JIT) inventory policies boost efficiency by cutting inventory and requiring vendors to deliver inputs as they are needed. Often use sole sourcing, buying a firms entire stock of a product from just one supplier. Latest inventory trend: JIT II, suppliers to place representatives at the customers facility to work as part of an integrated, on-site customersupplier team. Inventory adjustments are also vital to wholesalers and retailers.
Organizational Factors
Successful marketers understand their customers organizational structures, policies, and purchasing systems. Some firms have centralized procurement, others delegate it throughout the units. Many companies use multiple sourcing to avoid depending too heavily on a sole supplier.
Interpersonal Influences
Many different people influence B2B buying decisions, sometimes as individuals and sometimes as part of a committee. Marketers must know who the influencers are and understand their priorities. Sales personnel must be flexible and have a good technical understanding of their products.
Final choice may involve trade-offs between feature such as price, reliability, quality, and order accuracy.
Straight Rebuying
A recurring purchase decision in which a customer reorders a product that has satisfied needs in the past.
Purchaser see little reason to assess competing options. Marketers who maintain good relationships with customers can go a long way toward ensuring straight rebuys. High-quality products. Superior service.
Prompt delivery.
Modified Rebuying
Purchaser willing to reevaluate available options. May occur if supplier has let a rebuy circumstance deteriorate because of poor service or delivery performance.
New-Task Buying
First-time or unique purchase situations that require considerable effort by the decision makers. Most complex category of business buying. Often requires purchaser to consider alternative offerings and vendors.
Reciprocity
Practice of buying from suppliers that are also customers. In U.S., Department of Justice and the Federal Trade Commission view reciprocity as an attempt to reduce competition.
ANALYSIS TOOLS
Value analysisexamines each component of a purchase in an attempt to either delete the item or replace it with a more cost-effective substitute. Vendor analysisan ongoing evaluation of a supplier s performance in categories such as price, EDI capability, back orders, delivery times, liability insurance, and attention to special requests.
Marketers who can quickly identify decision makers have an advantage over competition.
TEAM SELLING
Combining several sales associates or other staff to help the lead account representative reach all those who influence the purchase decision. May include members of the seller firms own supply network in the sales situation. Example: Reseller of specialized computer applications whose clients require access to training.
Multiple buying influences can affect buying decisions, such as conflicts between professional staff and purchasing departments.