ch06-s
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ch06-s

Course Number: HISTRY 311, Spring 2008

College/University: Wisc Whitewater

Word Count: 767

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Chapter 6: Business Marketing Objectives: 2. Describe business marketing. 2. Describe the role of the Internet in business marketing. 4. Discuss the role of relationship marketing and strategic alliances in business marketing. 5. Identify the four major categories of business market customers. 6. Explain the North American Industry Classification System. 7. Explain the major differences between business and...

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6: Chapter Business Marketing Objectives: 2. Describe business marketing. 2. Describe the role of the Internet in business marketing. 4. Discuss the role of relationship marketing and strategic alliances in business marketing. 5. Identify the four major categories of business market customers. 6. Explain the North American Industry Classification System. 7. Explain the major differences between business and consumer markets. 8. Describe the seven types of business goods and services. Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 9. Discuss the unique aspects of business buying behavior. 1 1 Business Marketing The marketing of goods and services to individuals and organizations for purposes other than personal consumption. Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 2 1 Business Products Are used to manufacture other products Become part of another product Aid the normal operations of an organization Are acquired for resale without change in form Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning Key is intended use 3 2 http://www.gepolymerland.com Internet Marketing Opportunities Increase efficiency Reduce costs Improve customer service Create one-to-one relationships Introduce new products Expand markets Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 4 2 Benefits of Marketing on the Internet 1. Lower prices 2. Greater selection of products and vendors 3. Access to customer and product sales data 4. Around-the-clock ordering & customer service 5. Lower costs http://www.covisint.com Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 6. Customized products 5 3 Strategic Alliance A cooperative agreement between business firms (strategic partnership). 3 Keirets u A network of interlocking corporate affiliates. Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 6 4 http://www.cbd-net.com http://www.governmentbids.com Categories of Business Customers Producers Categories of Business Customers Resellers Governments Institutions Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 7 5 NAICS A detailed numbering system developed by the U.S., Canada, and Mexico North American Industry Classification System to classify North American business establishments by their main production processes. 8 Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 5 Examples of NAICS Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 9 5 NAICS Provides common industry classification system Valuable tool for marketers in analyzing, segmenting, and targeting markets Data can be used to determine: Number, size, and geographic dispersion of firms Market potential / market share estimates Sales forecasts Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 10 6 Business Consumer vs. Markets Business Market Organizational Larger Fewer Concentrated More Direct More Professional Multiple More Complex Yes Greater Personal Selling Consumer Market Individual Smaller Many Dispersed More Indirect More Personal Single Simpler No Lesser Advertising 11 Characteristic Demand Volume # of Customers Location Distribution Nature of Buy Buy Influence Negotiations Reciprocity Leasing Promotion Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 6 Demand in Business Markets Description Demand for business products results from demand for consumer products A change in price will not significantly affect the demand for product Multiple items are used together in final product. Demand for one item affects all Demand for business products is more volatile than for consumer products 12 Demand is... Derived Inelastic Joint Fluctuating Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 6 Multiplier Effect (Accelerator Principle) Phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product. Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 13 7 Types of Business Products Major Equipment Accessory Equipment Raw Materials Component Parts http://www.pmpa.org Major Categories of Business Products Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning Processed Materials Supplies Business Services 14 8 Business Buying Behavior Buying Centers Evaluation Criteria Aspects of Business Buying Behavior Buying Situations Purchasing Ethics Customer Service Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 15 8 Buying Center All those persons in an organization who become involved in the purchase decision. http://www.loctite.com http://www.napm.org Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 16 8 Roles in the Buying Center Initiator Influencers Gatekeepers Decider Purchaser Users Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 17 8 Roles in the Buying Center Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 18 8 Evaluative Criteria for Business Buyers Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 19 8 Buying Situations New Buy Modified Rebuy Straight Rebuy Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning 20 8 Buying Situations A situation requiring the purchase of a product for the first time. A situation where the purchaser wants some change in the original good or service. A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers. 21 New Buy Modified Rebuy Straight Rebuy Chapter 6 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson Learning

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