B2B Marketing
This type of marketing involves businesses selling products or services to other businesses, not directly to consumers.
What is B2B marketing?
This term describes the movement of products, services, and ideas across borders.
What is globalization?
This approach to segmentation uses characteristics like age, income, or education to group consumers.
What is demographic segmentation?
This is the first step in the marketing research process.
What is defining the objectives and research needs?
UC has ordered classroom projectors from the same supplier for years. This year, it requests higher-resolution models with better brightness, while staying with the same vendor. This situation is an example of this type of B2B purchase.
What is a modified rebuy?
This concept explains why demand for industrial goods depends on consumer demand.
What is derived demand?
These five nations (Brazil, Russia, India, China, and South Africa) are key because of their future growth potential.
What are the BRICS countries?
In this targeting strategy, a company tries to appeal to as many people as possible with one offering (like table salt).
What is undifferentiated targeting?
Information gathered specifically for a current project, like surveys or interviews, is this type of data.
What is primary data?
When Starbucks entered China, it partnered with a local company to share ownership, risks, and profits while learning the local market. This type of global entry strategy is called this.
What is a joint venture?
Hospitals, manufacturers, and resellers are examples of these common buyer groups.
What are B2B buyer types?
Among exporting, licensing, joint venture, and direct investment, this strategy carries the greatest risk but also the most control.
What is direct investment?
This term describes a map that plots brands on two dimensions (like price vs. quality) to show how customers perceive them.
What is a perceptual map?
When a company tests two different ad versions varying the copy and images used to see which one performs better, they are conducting this type of research.
What is experimental research?
This analytical method helps retailers discover which products are commonly purchased together, like chips and salsa.
What is market basket analysis?
Reordering office supplies from the same vendor without changes is an example of this type of buy in a B2B context.
What is a straight rebuy?
This method of global expansion allows another firm to operate under your brand name and business model in exchange for royalties.
What is franchising?
When evaluating segments, this criterion asks whether the group can be reached effectively through promotion and distribution.
What is reachability (or being reachable)?
Observing how shoppers move through a store is an example of this data collection method.
What is observational research?
The “V” of big data that refers to the speed at which information is generated and collected.
What is velocity?
In the B2B buying process, this person has final authority to approve the purchase.
Who is the decider?
This global market entry method is considered the least risky for a firm.
What is exporting?
The purpose of creating a Target Market Profile (TMP) is to do this.
What is provide a detailed picture of the target market to guide marketing strategies?
When researchers mislead participants by disguising a sales pitch as a survey, it is called this unethical practice.
What is sugging?
When YouTube analyzes video views, comments, and click paths all at once, it’s demonstrating this “V” of big data.
What is variety?