Business-to-business marketing concepts and relationship marketing strategies from an intro marketing course.
30 cards · basic cards · AI-written, checked twice. Edit anything.
- What is B2B marketing?
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Marketing of products or services by one business to other businesses rather than directly to consumers.- Define relationship marketing.
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A marketing approach focused on building and maintaining long-term partnerships with customers rather than pursuing individual transactions.- What is account-based marketing (ABM)?
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A targeted B2B strategy that treats individual accounts as markets of one, customizing sales and marketing efforts for each key account.- Why do B2B sales cycles typically take longer than B2C?
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B2B decisions involve multiple stakeholders, complex needs analysis, and higher financial commitments.- What is a buying committee or decision-making unit?
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A group of people within a company who collectively make the purchasing decision for a product or service.- What is customer lifetime value (CLV)?
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The total revenue a business expects to generate from a customer throughout their entire relationship.- What is key account management?
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A strategy focused on identifying, nurturing, and growing relationships with a company's most valuable customers.- Define cross-selling.
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Selling different products or services to an existing customer, typically related to what they already purchased.- What is upselling?
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Persuading a customer to purchase a higher-priced version or upgrade of a product they are already considering or own.- Why is customer retention central to relationship marketing?
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Retaining existing customers is more cost-effective than acquiring new ones and builds long-term profitability and loyalty.- What is sales enablement?
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The process of providing salespeople with tools, content, training, and resources needed to sell effectively.- What is lead nurturing?
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The process of building relationships with potential customers by providing relevant information and engagement over time.- What is a marketing-qualified lead (MQL)?
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A prospective customer who has shown enough interest to be targeted by the sales team but is not yet ready to buy.- What is a sales-qualified lead (SQL)?
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A prospective customer judged by the sales team to be ready for direct sales engagement and conversion.- What is customer churn?
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The percentage of customers who stop doing business with a company during a specific time period.
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