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 marketsFewer buyersLarge buyersCloser customer-supplier relationshipsProfessional purchasingMultiple buying influencesMultiple sales calls

3. Derived demandInelastic demandFluctuating demandGeographically concentrated buyersDirect purchasing

4. Buying situationsStraight rebuyModified rebuyNew task

6. Buying CentreInitiatorsUsersInfluencersDecidersApproversBuyersgatekeepers

7. Stages in the buying processProblem recognitionGeneral need descriptionProduct specificationSupplier searchProposal solicitationSupplier selectionOrder routine specificationPerformance review

8. Customer referencesState the customer’s needEmphasize the barriers in satisfying needDescribe the value in your solutionList quantified resultsDifferentiateProvide comprehensive summaryInclude customer quotes

9. Relationship categoriesBasic buying and sellingBare bonesCustomer supplyContractual transactionsCooperative systemsCollaborativeMutually adaptiveCustomer is king

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

11. Key Account ManagementA few customers account for most of the salesGiving specialised attentionCross functional teamsDecisions: who are your key accounts and what can you offer them?

12. Trends?