Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
12 Cards in this Set
- Front
- Back
|
Types of Business Markets
|
1. industrial
2. government 3. professional |
|
|
Business to Business (B2B def)
|
used in producing consumer goods and/or facilitating operations of an enterprise
|
|
|
Differences between B2B and Consumer Markets
|
1. final user are usually middlemen or industrial
2. more complex buying situation (products are more complex) 3. decision makers may be external 4. sales reps are often needed |
|
|
Goals of B2B
|
1. increase awareness and knowledge of product/company/capabilities
2. lower selling costs |
|
|
Market Issues
|
1. markets are much smaller and more concentrated (highly segmented)
2. each customer spends more money on products 3. consumer demand drives business markets 4. minimal secondary data |
|
|
Product Issues
|
1. very technical and complex
2. products are built to specification |
|
|
Buying Issues
|
1. buyers are professional and are informed (more straight forward ads)
|
|
|
Pricing/Distribution Issues
|
1. negotiations/bids are involved
2. short and direct |
|
|
Media Selection
|
1. trade publications
-specific industries, eliminates waste 2. direct mail -small targets, minimal waste -detailed presentation 3. catalogs -extensive life of products 4. internet 5. consumer media -used with broad targets |
|
|
Message Strategy (what to say)
|
-business are more rational, but emotions are still important
1. product attributes 2. company attributes 3. price isn't as important 4. priorities are different for each company |
|
|
Message Strategy (how to say it)
|
1. testimonials
-experts,peers 2. case history -third person version of testimonials 3. demo -showcase the product 4. news -new product information 5. generic -positions company as expert in the field |
|
|
Sales Promotions
|
1. trade shows
-exhibition of product category 2. specialty items -keeps company name relevant 3. samples -short purchase cycles -lowered priced items |
