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Chapter 5

Business-to-Business Marketing

Book Version 3
By Boundless
Boundless Marketing
Marketing
by Boundless
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Section 1
Business Markets
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Defining Business Marketing

Business marketing includes all activities involved in communicating the value of a business's products and services to another business.

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B2B vs. Consumer Marketing: Similarities and Differences

B2B markets to individuals acting on behalf of organizations, while consumer marketing targets single individuals who pay for their own transactions.

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Types of Businesses

Primary ownership types of businesses include corporations, cooperatives, LLPs, LLCs, and sole proprietorships.

Section 2
Business Customers
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Characteristics of Business-Customer Interactions

B2B customer interactions are influenced by what are typically long and complex buying processes and tend to be more relationship-based.

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Customer Concerns

B2B companies typically implement client services or customer care processes to address customer concerns and enhance customer satisfaction.

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Purchase Behavior

Business customers - as compared to consumers - tend to be more rational, are more concerned with quality, and look to make lasting relationships.

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Purchase Influences

Purchase influences of B2B customers differ from those of the consumer market due to the high time and cost investments of B2B transactions.

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Negotiating

B2B buyers and sellers use negotiating tactics to agree upon terms and pricing that benefit both the customer and the seller.

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Leasing

In B2B transactions, leasing serves as an alternative financing method for customers looking to use high-priced products and services.

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Promotional Methods

B2B marketers use industry or trade publications, trade shows, private events, and social media to generate awareness about their products and services.

Section 3
Industrial Classification
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Identifying Potential Business Customers

Market segmentation involves identifying the particular groups of people / organizations that benefit from your product and then selling to them.

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Estimating the Addressable Market

Total addressable market (TAM) is a term that is typically used to reference the revenue opportunity available for a product or service.

Categories of Business Products

Business-to-business (B2B) transactions involve many classifications of business products.

Section 4
The Business Buying Decision Process
Decision-Making Units

The group of individuals responsible for making a buying decision in a B2B context are labelled the decision making unit (DMU).

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Buying Centers

A buying center is a group of people within an organization who make business purchase decisions.

Buying Situations

B2B buying situations vary from B2C buying situations, so B2B marketers must develop different capabilities.

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Stages of Business Buying

Understanding the stages of business buying is important to a marketing firm if it is to market its product properly.

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Measuring Vendor Performance

Firms can measure vendor quality, service, availability, and overall reliability to determine future engagement with the vendor.

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Influences on Business Buying

Environmental, organizational, and interpersonal factors all impact the business buying decision process.

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Business Ethics in B2B

Marketers need to incorporate good ethics in their marketing campaigns as they are responsible for the image that a product portrays.

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Customer Service as a Supplement to Products

Customer service is provided before, during, and after the purchase of a product, and is meant to supplement and enhance customer experience.

You are in this book
Boundless Marketing by Boundless
Previous Chapter
Chapter 4
Consumer Marketing
  • Introduction to Consumers
  • The Market Research Process
  • Technology to Assist Market Research
  • Market Segmentation
  • Identification of Target Markets
and 6 more sections...
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Chapter 5
Business-to-Business Marketing
  • Business Markets
  • Business Customers
  • Industrial Classification
  • The Business Buying Decision Process
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Chapter 6
Services Marketing
  • The Importance of Services
  • Services versus Products
  • Marketing Mixes for Services
  • Service Quality
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