B2B Exam 1

• Strong buyer-seller relationships (not as rare)
• Shorter distribution channels (direct vs. indirect)
• Greater emphasis on personal selling (avg $)
• Greater Web integration (site for special customers)
• Unique promotional strategies (trade shows)
• Consumption (derived demand for carpet protectant)
• Knowledge of customer’s customer
• Marketing research (tend toward qualitative)
• B2B involves multiple organizational buying influences
• Service component of product offering plays key role
• 80/20 rule

• Lead generation
• Lead nurturing
• Sales tools and collateral
• Selling is for Conversion
• convert leads to prospects
• convert prospects to customers
• retain customers

• Customers
• 1.Original Equipment Manufactures
• 2.Users
• 3.GovernmentAgencies
• Federal, State/Province, Local, County
• 4.Institutions
• Schools, colleges, universities, hospitals
• 5.Resellers
• Wholesalers, brokers, industrial distributors
• Products
• 1.Raw Materials
• 2.Manufactured Material
• 3.Component parts (OEM parts)
• 4.Accessory Equipment
• 5.Capital Equipment
• 6.MRO
• 7.Facilitating supplies/services

• Generating high quality leads
• Generating a high volume of leads
• Marketing to a lengthening sales cycle
• Generating perceived value in "cutting edge" product benefits
• Generating public relations buzz
• Competing in lead generation across multiple media
• Marketing to a growing # of people involved in the buying process

The sales cycle is the sequence of phases that a typical customer goes through when deciding to buy something. As a rule, the sales cycle is described from the customer's perspective. The first phase of the sales cycle may be either the customer's perception of a product, or a perception of a need that the product might satisfy. The following steps include research and evaluation; the last step is the customer's decision to purchase the product.

• 1.Which markets should the firm serve?
• 2.What businesses should we enter/exit?
• 3.Where should we invest scarce company resources?
• All of the above are based on projections of demand

• Demand for business products and services is derived form the demand for the end –consumer customer.
• Elastic vs, inelastic demand - steel used in automobiles raw salt used by Morten - products without substitutes

• Is the perception ofva product’s benefit beyond its price
• Clear statement of the tangible results (benefits) a customer gets from using your products or services

• 1.Business Drivers
• 2.Movement
• 3.Metrics

• 1.Value received from the product
• 2.Value received from the services
• 3.Value received from the relationship

• 1.Who are our customers?
• 2.What do our customers want?
• 3.How do our customers make their buying decisions?
• 4.Where do our customers go for information about our products and services?

• Outbound
• Telemarketing, tradeshows, direct mail, email blasts, print ads, tv/radio ads (Interruption)
• Inbound
• search engine marketing (SEO & PPC), blogging, and social media

• Content
• blogs, videos, white papers, Ebooks
• SEO
• on-page, off-page, link-building, keyword analysis
• Social Media
• twitter, linkedin, facebook, forums, blogs

• Identify potential customers.
• Identify and evaluate attractiveness of market segments
• Communicate with customers and sales organization
• Analyze buyer behavior, needs and requirements
• Study the market and competitive environment
• Develop new products and services.
• Set prices and terms.
• Manage cost of sales and gross margin.
• Allocate resources across products.
• Develop promotional material to support sales organization
• Develop and manage lead generation programs
• Make sales calls on key customers.
• Assist sales in developing account-specific marketing plans