Industrial, or Business To Business (B2B) Marketing
Examples of a B2B selling process:
- An organization seeks to split the work between the two firms based on an evaluation of each firm's capabilities.
- A sales representative makes an appointment with an organization that employs 22 people. He demonstrates a photocopier/fax/printer to the office administrator. After discussing a proposal, the business owner signs a contract to obtain the machine on a fully maintained rental and consumables basis, with an upgrade after 2 years.
Main features of the B2B selling process are:
- Marketing is one-to-one in nature. It is relatively easy for the seller to identify a prospective customer and build a face-to-face relationship.
- Highly professional and trained people in buying processes are involved. In many cases, two or three decision makers must approve a purchase plan.
- Often the buying or selling process is complex, and includes many stages (for example, request for proposal, request for tender, selection process, awarding of tender, contract negotiations, and signing of final contract).
- Selling activities involve long processes of prospecting, qualifying, wooing, making representations, preparing tenders, developing strategies, and contract negotiations.
See also B2B definition.
Read more about this topic: Industrial Marketing
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