chapter 7 analyzing business markets celso cunanan
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ANALYZING
BUSINESS MARKETS
Marketing Management
07 February 2014
MMPD
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Decision-making process by organizations
Establish the need for purchased products and services
Identify, evaluate, and choose among alternative brands and suppliers
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What Is INSTITUTIONAL BUYING?
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- Also known as business-to-business or
B2B market
- Consists of all organizations that acquire
goods and services used in the
production of other products or services
that are sold, rented, or supplied to
others.
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What Is BUSINESS MARKET?
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1. Fewer, larger buyers
2. Close supplier-customer
relationship
3. Professional purchasing
4. Multiple buying influences
5. Multiple sales calls
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B2B Features
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6. Derived demand
7. Inelastic demand
8. Fluctuating demand
9. Geographically concentrated
buyers
10. Direct purchasing
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B2B Features
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1. Straight Rebuy
2. Modified Rebuy
3. New Task
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3 Types of BUYING SITUATIONS
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Participants in Buying Process
(The Buying Center)
1. Initiators – request that something be
purchased
2. Users – use the product
3. Influencers – influence the buying
decision, e.g. technical personnel
4. Deciders – decide on product
requirements or on suppliers
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Participants in Buying Process
(The Buying Center)
5. Approvers – authorize the proposed
actions of deciders or buyers
6. Buyers – authorized to select the supplier
and arrange the purchase terms
7. Gatekeepers – with power to prevent
sellers from reaching members of the
buying center
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MMPD
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8 Stages in BUYING PROCESS
(BUYPHASES)
1. Problem Recognition
2. General Need Description
3. Product Specification
4. Supplier Search
5. Proposal Solicitation
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6. Supplier Selection
7. Order-routine Specification
8. Performance Review
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8 Stages in BUYING PROCESS
(BUYPHASES)
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OTHER MARKETS
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1. Institutional Market –provides goods and
services to people under their care. E.g.
hospitals, schools, prisons
2. Government Market – requires much
paperwork from vendors and favors open
bidding
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SUMMARY
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Business-to-Business
Marketing requires a special,
unique set of marketing
concepts and principles
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