Principles of Marketing (Second custom edition for DePaul University)
16th Edition
ISBN: 9781323142547
Author: Philip Kotler, Gary Armstrong
Publisher: Pearson Education
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Chapter 6, Problem 6.24MML
Summary Introduction
To discuss: The way how the online purchasing changed the B2B marketing process and its disadvantages and advantages of electronic purchasing.
Online purchasing refers to the electronic medium of shopping of goods and services from a seller through the internet by way of using the web browsers.
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Describe how online purchasing has changed the business- to-business marketing process and discuss the advantages and disadvantages of electronic purchasing. (AACSB: Written and Oral Communication)
How online purchasing has changed the business-to-business marketing process
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Gone are the days of tedious, paper-laden, and labor-intensive procurement duties. E-procurement is changing the way buyers and sellers do business, specifically via mobile procurement that offers cloud-based platforms that reduce the search, order, and approval cycle. Most large companies have adopted some form of e-procurement. A recent study found that almost 70 percent of companies utilize some form of e-procurement, mobile procurement, or supply chain management applications. A leading industry platform, Coupa, provides a suite of cloud-based applications for finance, including accounts payable, sourcing, procurement, and expense management that allows customers full functionality from their mobile devices. Employees now enjoy the flexibility and time savings of viewing, approving, or denying requisitions, purchase orders, and invoices. One of Coupa’s large retail clients claimed a reduction from 10…
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Principles of Marketing (Second custom edition for DePaul University)
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