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UNO MKT4300_Chapter 6

Kotler and Keller
by

Michael Breazeale

on 26 August 2014

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Transcript of UNO MKT4300_Chapter 6

Dr. Mike Breazeale
MKT 4300
Marketing Management
1
6
Analyzing
Business Markets
What is a
business market?
All the organizations that acquire goods and services used in the production of other goods or services that are sold, rented, or supplied to others
Organizational buying refers to the decision-making process by which formal organizations establish the need for purchased products and services, and identify, evaluate, and choose among alternative brands and suppliers.
Organizational Buying
Major Industries Making Up
The Business Market
Agriculture, forestry, and fisheries
Mining
Manufacturing
Construction
Transportation
Communication
Public utilities
Banking, finance, and insurance
Distribution
Services
Understanding customer needs in new ways
Identifying new opportunities for growth
Improving value management techniques
Calculating better marketing performance and accountability metrics
Competing and growing in global markets
Countering the threat of product and service commoditization
Convincing C-level executives to embrace the marketing concept
Top Marketing Challenges
Derived demand
Inelastic demand
Fluctuating demand
Geographically concentrated buyers
Direct purchasing
Fewer buyers
Close supplier-customer relationships
Professional purchasing
Many buying influences
Multiple sales calls
How are Business Markets different from consumer markets?
New Task
Modified Rebuy
Straight Rebuy
Buying Situation
The Buying Center
Initiators
Users
Influencers
Deciders
Approvers
Buyers
Gatekeepers
Problem recognition
General need description
Product specification
Supplier search
Proposal solicitation
Supplier selection
Order-routine specification
Performance review
Stages in the Buying Process
(Buyphases)
The Consumer Decision
Making Process
Problem Recognition
Information Search
Alternative Evaluation
Purchase Decision
Post-purchase Processes
Disposal
Some of the
Risks
in Business Relationships
Specific investments required
Opportunism
Hostage Holding
Loss of proprietary information
Strategic alliances
Partnerships
Strategic outsourcing
Full transcript