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UNO MKT4300_Chapter 6
Transcript of UNO MKT4300_Chapter 6
What is a
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.
Major Industries Making Up
The Business Market
Agriculture, forestry, and fisheries
Banking, finance, and insurance
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
Geographically concentrated buyers
Close supplier-customer relationships
Many buying influences
Multiple sales calls
How are Business Markets different from consumer markets?
The Buying Center
General need description
Stages in the Buying Process
The Consumer Decision
Some of the
in Business Relationships
Specific investments required
Loss of proprietary information