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MKT607 – lectureaid_3

MKT607 – lectureaid_3 - MKT607 Marketing...

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MKT607 – Marketing Management Study aid: Lecture 3 Introduction Most institutions, businesses, and governmental agencies purchase products and services for their organizations, just as consumers purchase them for their homes. Business-to-business (B2B) marketing involves four major categories of organizational buyers that include intermediaries, producers, government agencies, and other institutions. Peter and Donnelly (2007) indicate that "there are over 86,000 governmental agencies in this country that purchase machinery, equipment, facilities, supplies, and services" (p. 55). This is a tremendous opportunity for all marketers to consider– government agencies not just in this country but also those of other countries. A marketer should always inquire about the sales potential to government agencies and to other businesses for their product line. It is also important to recognize that consumer and industrial marketing often overlaps. To illustrate, Proctor & Gamble sells cooking oil and cleaning products to consumers, and also to hotels, restaurants, and other corporate accounts. Stages in the Organizational Buying Process A streamlined buying process is essential in any organization to ensure that its goods and services are purchased and received efficiently and in a timely manner. There are three types of organizational purchases based on their degree of complexity: Straight Rebuy – this is the most common type of purchase and involves the reordering of a product routinely used from the same supplier.
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