Study_Guide_for_lecture_4_-_business_markets - Study Guide...

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Study Guide for Lecture 4 – Business markets What is a business consumer *Someone who doesn’t get to enjoy what they bought *Use to make other stuff *Resell to other people *Used to run the organization *Actually, its usually another business *B2B *Definition: Business marketing is the marketing of goods and services to companies,  governments, or not-for-profit organizations for use in the creation of  goods and services they can produce and market to others. *And if you thought the consumer market was big… *Retail sales $4.1 trillion (Census 2005) *GDP $13.4 trillion (BEA 2006 ) *Doesn’t count “intermediary goods” *You do the math *Industrial firms – 12,000,000 *Manufacturers – 350,000 *Agribusiness – 2,000,000 *Services – 7,700,000 *Not for Profit – 56,000 *Resellers – 3,800,000 *Government – 88,000 Aside… *According to Bruce *There are tremendous job opportunities in the B2B sector Marketing 431 Study Guide Lecture 4 Business Markets page 1 ©2006 Bruce Robertson
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*Every company has at least one salesperson Characteristics of Business Markets NAICS *A way of categorizing businesses by industry type *6 Digit code *3 digit industry subsector *4 digit industry group *5 digit industry *6 digit US industry *Why is NAICS important *Industry Sales *Employment *Number of firms *Salaries
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This note was uploaded on 08/04/2008 for the course MKTG 431 taught by Professor Brucerobertson during the Fall '07 term at S.F. State.

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Study_Guide_for_lecture_4_-_business_markets - Study Guide...

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