100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
samenvatting- Business marketing $7.49
Add to cart

Summary

samenvatting- Business marketing

 8 views  0 purchase
  • Course
  • Institution

samenvatting slides business marketing

Preview 4 out of 68  pages

  • December 18, 2023
  • 68
  • 2023/2024
  • Summary
avatar-seller
CHAPTER 1: INTRODUCTION B2B MARKETING
What’s in a name? – Business Marketing

Business marketing or B2B (business-to-business) marketing are marketing activities
(marketing of products or services) of an organisation towards other organisations
=> building, maintaining, and expanding relationships with other businesses B2B

Marketing aims to create added value for businesses that implements its
products of services. B2B Marketing seeks to convert this added value into - leads
- sales opportunities
- and turnover for profit-focused companies


B2B marketing
Definition - the practice of individuals, or organizations, including commercial businesses,
governments and institutions, - facilitating the sale of their products or services to other
companies or organizations - that in turn resell them, use them as components in products
or services they offer, or use them to support their operations


Top B2B Brands – global




Characteristics of B2B markets
The market

,The buying process




The demand (1/3)
• Based on derived demand: demand for product/service is determined by the demand
for consumer goods/services on the B2C market
- e.g. increased demand for Encyclopedia books –> increased demand for paper
- e.g. increased demand for steel -> increased demand for steel workers (labour)
Demand in business markets is highly driven by developments in consumer markets
• Based on joint demand: demand for product/service is interdependent on each other
- e.g. more electric cars sold -> increased demand for charging stations (joint)
- e.g. more printers sold -> increased demand Printers & Ink


The demand (2/3)
• Demand in business markets is price inelastic: a change in price causes a smaller %
change in demand => because there are few alternatives e.g. if price of petrol falls
30%, but demand for petrol only decreases 10%
• Most B2C goods/services are price elastic: a change in price causes a bigger % change
in demand
- 2 exceptions:
 Giffen goods are essential goods (rice, potatoes, milk) Demand stays high when
prices increase (no ready substitute)
 Veblen goods are goods for which demand increases as the price increases due to
its exclusive nature and appeal as a status symbol (yachts, fine wines)


The demand (3/3)
• Fluctuating demand: a small change in demand by consumers can have a big effect
throughout the chain of businesses that supply all the goods and services that
produce it
• Therefore in B2B:
- Need for market data, data analyst
- Budgeting & forecasting
- Account management

,Similarities between B2B & B2C
• Both require investing in marketing and advertising
• Both require good customer service & a customer-centric sales process
• Both require digital presence
• Each model creates value
• Brand image is an essential element in both models
• Both models can have online and offline sales
• A single company can operate in B2B and B2C segments


Distribution channels
Direct channel




Indirect channel

, Wholesaler vs Distributor




Hybrid channels
• Hybrid channels are a mix of direct and indirect channels: the manufacturer partners
with intermediaries but still controls customer contact
- e.g. brand promotes products online but doesn’t deliver them directly to customers.
Instead, they nominate authorized distributors



B2B Buyers
Business marketing are marketing activities of an organisation towards other organisations

• Commercial businesses (industry & services)
• Resellers
• Governments (local/national/supra-national)
• Institutions

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Maxencevormezeele. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

53068 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.49
  • (0)
Add to cart
Added