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PoM Ch7

Principles of Marketing Chapter 7

QuestionAnswer
List different stakeholders in B2B markets Resellers, manufacturers/service providers, institutions, government
Institutions Examples are school and hospitals, purchase all kinds of goods and services
Government One of the largest purchasers of goods and services
B2B buying process Need recognition, product specification, RFP process, proposal analysis and supplier selection, order specification, vendor performance assessment using metrics
Name stakeholders included in the buying center Influencer, decider, buyer, user, gatekeeper, initiator
Initiator Example: doctor
Influencer Example: medical device supplier; pharmacy
Influencer Whose views influence other members of the buying center in making final decision
Initiator Person who first suggests buying the particular product or service
Decider Example: hospital
Decider Ultimately determines any part of or the entire buying decision - whether to buy, what to buy, how to buy, or where to buy.
Buyer Example: materials manager
Buyer Person who handles paperwork of the actual purchases
User Example: patient
User Person who consumes or uses the product or service
Gatekeeper Example: insurance company
Gatekeeper Person who controls information or access, or both, to decision makers and influencers
B2B buying process step 1 Need recognition
B2B buying process step 2 Product specification
B2B buying process step 3 RFP process
B2B buying process step 4 Proposal analysis and supplier selection
B2B buying process step 5 Order specification
B2B buying process step 6 Vendor performance assessment using metrics
Created by: ltt
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