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Description
Flashcards by Madeline Briscoe, updated more than 1 year ago
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Created by Madeline Briscoe
over 8 years ago
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| Question | Answer |
| how does B2B marketing differ from B2C in terms of market structure? | nature of demand: b-derived, c-direct demand elasticity: b-less, c-more market size: b-larget value, c-smaller value number of buyers/seller: b-few, c-many geographyc concentration: b-custered, c-dispersed |
| how does B2B marketing differ from B2C in terms of buyer behaviour differences? | buying influences: b-many, c-few purchase cycles: b-long, c-few transaction value: b-high, c-low buying process complexity: b-high, c-simple formal systems/procedures: b-common, c-uncommon |
| how does B2B marketing differ from B2C in terms of marketing practice? | -selling practices: b-systems selling, c-product selling -personal selling: b-extensive, c-limited -promotional activities: b-customer-specific, c-mass market -branding: b-limited, c-extensive -product complexity: b-strong, c-less so marketing channels: b-short, c-long |
| characteristics of B2B branding? | -complex -difficult to brand goodwill, reputation, expertise -reduces risk -creates emotional ties (successful b2b branding involves emotion) |
| what is the framework that allows b2b marketers to construct a unique brand identity? (intangible and tangible features of marketing) | INTANGIBLE: advise, adaptation (Key factor in B2B is the advice and expertise they offer the customers, more critical is adapting to the customers needs, because the relationship goes for a long time) TANGIBLE: product, logistics, service (ford 2002) |
| what are the 2 key strategies that seperate yout co. from the others in b2b marketing | -HOW you do your business (logistics, tangible feature) -how WELL you do it |
| what are key strategies brands use to differentiate in the b2b market? | -history -brand personality -clear brand identity -everyone in co. believes in brand and has same values |
| where does b2b branding start? | in the company - corporate culture, internal communication, sales force training |
| what do businesses need to focus on to stengthen their brb branding? | 1. the brand, not product, 2. the mind, not the marketplace, 3. the market leader. 4. short term, not long term, 5. focus on the global market, 6. a single word, not list of attributes, 7. a single visual, 8. the company, 9. develop your employees, 10. understand power of emotion |
| e.g of brand that focuses on the brand, not product | in-n-out burger (focus on burger+fries) cf mcdonalds (15 item menu) |
| how does focusing on market leaver benefit a brand? also e.g. of brand that focuses on the market leader | benefits brand by having differentiation. first, look at market leader, then create a tangible difference between your brand and theirs e.g. redbull (market leader) and mother (#2 brand) |
| e.g. of brands that focus on a single word...not a list of attributes | google-search volvo-safety ikea-assembled furniature the body shop-natural (cosmetics) |
| e.g. of brand that focuses on a single visual | -coke made bottle shape distinctive because fridges didn't have lights -carona uses the lime to differentiate from other beers |
| what are the critical emotional brand values within b2b marketing? (lynch and de Chernatony) | -trust -peace of mind -security |
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