Marketing Chapter 6

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Troy University, Troy *

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3300

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Marketing

Date

Feb 20, 2024

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docx

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Uploaded by sho4cker

How has "Artificial Intelligence" changed the B2B marketing environment for the better? What new capabilities will AI provide to B2B players? AI has made predicting customers' future purchases and shopping patterns easier due to predictive analytics which allows B2B players to achieve better customer service and influential marketing strategies. How does the corporate B2B buying process differ from the B2C process? In the business buying process, business buyers determine which products and services are needed by the business, whereas in the B2C buying process, consumers are making those decisions What is a Buying Center? How do businesses use them and why is it important for marketing to understand the dynamics of the Process? Who are the participants? A buying center is the decision making unit of a buying organization which consists of all the individuals and units that play a role in the business purchase decision- making process. Users members of the buying organization who will actually use the purchased product or service Influencers People in an organization's buying center who affect the buying decision; they often help define specifications and also provide information for evaluating alternatives. buyers people in an organization's buying center who make an actual purchase

gatekeepers media executives, news editors, and prominent reporters who direct the flow of news Describe the steps in the typical B2B Buying Process. Problem recognition, general need description, product specifications, supplier search, request for proposal, proposal solicitation, Supplier selection, approval, relationship building What is an RFP? Request for Proposal. An organization asks for a proposal for a problem that needs to be solved What is the QA process? quality assurance test What is VPA? value per action which is a performance review of the results Proctor and Gamble are Strong Advocates of treating their Customers like Partners. What are they doing to demonstrate that and how do they make sure their Clients are successful? They treat customers like "strategic partners" and like family. They make sure that stores are doing well, even if they sell more than p&g and work to create mutually beneficial relationships with customers. When the customer does well, so does P&G

Dole Foods conducts a rigorous Procurement Process and requires their suppliers to perform many tasks to qualify as a source for food. Why is that so important for their business and how do they insure they keep improving as a company? This is really important for their business since they want to make sure they are offering a consistenly good, consistently quality product to their customers. They ensure to keep improving by making them meet these standards, but also having many options for suppliers through having at least three options What is a "Supplier Development" program like DOLE practices the stage of the business buyer process in which the buyer reviews proposals and selects a supplier/suppliers based on the proposal submissions. Seeks to improve quality of existing suppliers and improves business process for Dole because of better-quality, consistent products, and shows customers that care why is the supplier development program an important tool to improve the business process? Seeks to improve quality of existing suppliers and improves business process for Dole because of better-quality, consistent products, and shows customers that care

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Marketing Chapter 6

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