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MGT 3300 Note 6

MGT 3300 Note 6 - June 1 2011 Marketing management Business...

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Marketing management June 1, 2011
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Business markets Business Market Producer Market Reseller Market Government Market Institutional Market
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Business market ( Business-to-business market) Individuals, organizations, or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations Marketing to businesses employs the same concepts as marketing to ultimate consumers, such as defining target markets, understanding buying behavior, and developing effective marketing mixes
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Producer market Individuals, organizations, or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations Include buyers of raw materials, as well as purchasers of semi-finished or finished items.
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Reseller markets Intermediaries that buy finished goods and resell them for a profit Consist of intermediaries, such as wholesalers and retailers, which buy finished goods and resell them for a profit. Resellers do not change the physical characteristics of the products they handle. Wholesalers purchase products for resale to retailers, other wholesalers, producers, governments, and institutions.
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Government markets Federal, state, country, or local governments that buy goods and services to support their internal operations and provide products to their constituencies Accountable to the public which explains their relatively complex set of buying procedures.
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Institutional markets Organizations with charitable, educational, community, or other non-business goals Churches, hospitals, Greeks, charitable organizations and some private colleges
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What are organizational buyers Manufacturers/Producers Buy raw materials or semi-finished goods. Also buy to operate the biz. Intermediaries/Resellers Wholesellers/retailers/other intermediates buy to resell to other intermediaries and/or end users. Also buy to operate the biz. Government Buys a wide range of goods and services including some raw materials
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Dimensions of marketing to business customers Transaction Characteristics Large orders Expensive items Extended negotiations Reciprocity Customer Attributes Detailed information Technical specifications Partnerships Customers’ Primary Concerns Price Quality Service Supplier relationships Methods of buying Description Inspection Sampling Negotiation Types of purchasing New task Straight Rebuy Modified Rebuy Demand Derived Inelastic Joint demand Fluctuating Dimensions of marketing to business customers
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3 types New task An organization’s initial purchase of an item to be used to perform a new job or solve a new problem May require development of product specifications, vendor specifications, and procedures for future purchases Straight Rebuy A routine purchase of the same products under approximately the same terms of sale by a
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MGT 3300 Note 6 - June 1 2011 Marketing management Business...

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