The Handbook of Marketing presents a major retrospective and prospective overview of the field of marketing, and provides a landmark reference at a time when many of the traditional boundaries and domains within the marketing discipline have been subject to change. The Handbook frames, assesses and synthesizes the work in the field and helps to define and shape its current and future development. It includes contributions from leading scholars in the field, and the input of an international and extremely distinguished advisory board of marketing academics. The Handbook of Marketing will be invaluable to advanced undergraduates, graduate students and academics in marketing.
Chapter 21: Marketing in Business Markets
Marketing in Business Markets
Business markets are generally defined as markets where both sellers and buyers are businesses or other organizations. Markets where not only sellers but also customers are businesses and other organizations are of great significance in all developed economies. It is estimated that the value of transactions that are carried out between businesses in an economy such as Sweden's is about 3–4 times more than the value of transactions between businesses and households. That is only a crude indicator of the importance of these markets. Apart from the volume of exchange, business markets are important arenas for economic and technological development that affect economies of regions and countries. The telecom and biotech markets are but two recent examples of ...