This document summarizes key concepts in B2B marketing including that business markets have fewer but larger buyers who are part of complex buying centers. It also outlines the different stages in the buying process and relationship categories that can exist from basic transactions to collaborative partnerships. Additional concepts covered are the use of customer references, e-procurement options, key account management strategies, and trends in B2B marketing.

1. B2B Marketing

2. Business markets Fewer buyers Large buyers Closer customer-supplier relationships Professional purchasing Multiple buying influences Multiple sales calls

3. Derived demand Inelastic demand Fluctuating demand Geographically concentrated buyers Direct purchasing

4. Buying situations Straight rebuy Modified rebuy New task

6. Buying Centre Initiators Users Influencers Deciders Approvers Buyers gatekeepers

7. Stages in the buying process Problem recognition General need description Product specification Supplier search Proposal solicitation Supplier selection Order routine specification Performance review

8. Customer references State the customer’s need Emphasize the barriers in satisfying need Describe the value in your solution List quantified results Differentiate Provide comprehensive summary Include customer quotes

9. Relationship categories Basic buying and selling Bare bones Customer supply Contractual transactions Cooperative systems Collaborative Mutually adaptive Customer is king

10. E-procurement Buying off online catalogs Customer-centric exchanges ( Dell) Buying in ‘markets’ Auction sites (ariba.com) Alliances (steelrx)

11. Key Account Management A few customers account for most of the sales Giving specialised attention Cross functional teams Decisions: who are your key accounts and what can you offer them?

12. Trends ?