Chapter 06 - 6 PrinciplesofMarketing...

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Business Markets and Business  Buyer Behavior 6 6 Principles of Marketing
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Learning Objectives After studying this chapter, you should be able to: 1. Define the business market and explain how  business markets differ from consumer markets 2. Identify the major factors that influence business  buyer behavior 3. List and define the steps in the business buying- decision process 4. Compare the institutional and government markets  and explain how institutional and government  buyers make their buying decisions 6-2
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Chapter Outline 1. Business Markets 2. Business Buyer Behavior 3. Institutional and Government  Markets 6-3
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Business Markets Business buying process  is the process  where business buyers determine which  products and services are needed to  purchase and then find, evaluate, and  choose among alternative brands 6-4
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Business Markets Differ from consumer markets in: Market structure and demand Nature of the buying unit Types of decisions and the decision- making process 6-5
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Business Markets Market Structure and Demand Fewer and larger buyers Geographic concentration Derived demand Inelastic demand Fluctuating demand Buyer and seller dependency 6-6
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Business Markets Market Structure and Demand Supplier development  is the systematic  development of networks of supplier- partners to ensure an appropriate and  dependable supply of products and  materials that they will use in making their  own products or resell 6-7
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Business Buyer Behavior Marketing Stimuli Similar to consumer buying, business buying  consists of the four Ps P roduct P rice P lace P romotion 6-8
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 refers to the buying  behavior of the organizations that buy goods  and services for use in production of other  products and services that are sold, rented,  or supplied to others. Also included are  retailing and wholesaling firms that acquire  goods to resell or rent to others for profit. Business Buyer Behavior
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Chapter 06 - 6 PrinciplesofMarketing...

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