ABSTRACT
The emergence of new markets and business models across the globe has strengthened the nature of Business-to-Business (B2B) marketing relationships. The need to meet the demands of new markets swiftly by providing appropriate goods and services and timely delivery requires effective collaboration by businesses. Good knowledge of business purchasers’ unique needs and segments enables organisations to recognise that no two purchasers are entirely the same. The new marketing mix helps organisations develop both long- and short-term marketing strategies to appeal to their target organisation. A product is a crucial element of the marketing mix; hence, B2B managers are always concerned about providing the right products or services to the right target audience as this ultimately establishes the nature of the business relationship. The product reflects the organisations’ target market and likely key partners. Price as a fundamental element represents one of the key strategic decision variables a marketing manager controls.
