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Ch 5: B2B Marketing - Coggle Diagram

- - - - Organizational Risk
        Formalized & dealt with in the buying process
      - Personal Risk
        
        Unstated but huge influencing factor in org buying
        
        Some decisions are irrational, ppl use shortcuts, gut feels, emos, beliefs, instincts, habits to reach decisions
- - - - SIC
        Can't compare across country & can't accurately measure new or emerging industries
      - Groups economic activity to permit studies of market share, demands for goods & services, competition from imports in domestic markets
      - 6 digit code designating industries
        
        First 2 - Sector of the economy
        
        3rd - Subsector
        
        4th - Industry group
        
        5th - Specific industry & is most detailed level
        
        6th - Individual country-level national industries
- - - - Charge fees & exist in these settings
        
        Thousands of geographically dispersed buyers & sellers
        
        Frequently changing prices caused by demand and supply fluctuations
        
        Time sensitivity due to perishable offerings & changing tech
        
        Easily comparable offerings between variety of suppliers
      - Offers economical way to expand small business's customer base & reduce cost of purchased products & services
  - - - Bidding sequential
        Bidders bid in order. Prospective buyers observe bids of others & decide whether to increase bid price. Auction ends when single bidder remains & wins item at highest price
    - - Bidding sequential
        Suppliers observe bids of others & decide whether to decrease bid price. Auction ends when single bidder remains & wins business with lowest price
- - - - User
        People in org who use product or service
      - Influencers
        Effects buying decision, usually helping def specifications for what is bought, usually has specialized knowledge
      - Buyers
        Formal authority & responsibility to select supplier & negotiate terms of contract
      - Deciders
        Formal or informal power to select or approve supplier that receives contract
      - Gatekeepers
        Control flow of info in buying centre
    - - Straight rebuy
        
        Buyer/purchasing manager reorders existing product or service from list of acceptable suppliers.
        
        Without checking with users or influencers
      - Modified rebuy
        
        Buying product it has experience purchasing but wants to change product specification, price, delivery schedule, or supplier
        
        Usually involves users, influences, deciders
      - New buy
        
        Buying product or service for first time
        
        More potential risk & more complex
        Buying centre is larger