Designed & developed by E4 SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I BASICS OF MARKETING I...
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Designed & developed by E4 SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I BASICS OF MARKETING I Session 7 Understanding Business Markets
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Transcript of Designed & developed by E4 SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I BASICS OF MARKETING I...
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
BASICS OF MARKETING I
Session 7
Understanding Business Markets
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Learning Objectives
• To understand what constitute business products• To understand the organization buying behavior
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Business Marketing
The marketing of goods and services to individuals
and organizations for
purposes other than personal consumption.
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
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
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Business vs. Consumer Markets
CharacteristicCharacteristicCharacteristicCharacteristicDemandDemand
VolumeVolume
of Customersof Customers
LocationLocation
DistributionDistribution
Nature of BuyNature of Buy
Buy InfluenceBuy Influence
NegotiationsNegotiations
ReciprocityReciprocity
LeasingLeasing
PromotionPromotion
Business MarketBusiness MarketBusiness MarketBusiness MarketOrganizationalOrganizational
LargerLarger
FewerFewer
ConcentratedConcentrated
More DirectMore Direct
More ProfessionalMore Professional
MultipleMultiple
More ComplexMore Complex
YesYes
GreaterGreater
Personal SellingPersonal Selling
Consumer MarketConsumer MarketConsumer MarketConsumer MarketIndividualIndividual
SmallerSmaller
ManyMany
DispersedDispersed
More IndirectMore Indirect
More PersonalMore Personal
SingleSingle
SimplerSimplerNoNo
LesserLesser
AdvertisingAdvertising
Ref: Marketing by Lamb
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Ref: Marketing Management by Saxena
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Influences on Industrial Buying Behavior
Ref: Marketing Management by Philip Kotler
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Categories of Business Customers
Categories Categories of Business of Business CustomersCustomers
Producers
Resellers
Governments
Institutions
Ref: Marketing by Lamb
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Demand in Business Markets
Demand is...Demand is...Demand is...Demand is... DescriptionDescriptionDescriptionDescription
DerivedDerivedDerivedDerived Demand for business products results from demand for consumer products
Demand for business products results from demand for consumer products
InelasticInelasticInelasticInelastic A change in price will not significantly affect the demand for product
A change in price will not significantly affect the demand for product
JointJointJointJoint Multiple items are used together in final product. Demand for one item affects allMultiple items are used together in final
product. Demand for one item affects all
FluctuatingFluctuatingFluctuatingFluctuating Demand for business products is more volatile than for consumer products
Demand for business products is more volatile than for consumer products
Ref: Marketing by Lamb
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Types of Business Products
Major EquipmentMajor Equipment
Accessory EquipmentAccessory Equipment
Raw MaterialsRaw Materials
Component PartsComponent Parts
Processed MaterialsProcessed Materials
SuppliesSupplies
Business ServicesBusiness Services
MajorMajorCategories Categories of Businessof Business
ProductsProducts
MajorMajorCategories Categories of Businessof Business
ProductsProducts
Ref: Marketing by Lamb
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Business Buying Behavior
Buying SituationsBuying Situations
Evaluation CriteriaEvaluation Criteria
Buying CentersBuying Centers
Aspects of Aspects of Business Business
BuyingBuyingBehaviorBehavior
Aspects of Aspects of Business Business
BuyingBuyingBehaviorBehavior
Ref: Marketing by Lamb(modified)
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Buying Center
All those persons in
an organization who become involved in
the purchase decision.
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Roles in the Buying Center
DeciderDeciderDeciderDeciderInitiatorInitiatorInitiatorInitiator InfluencersInfluencersInfluencersInfluencers GatekeepersGatekeepersGatekeepersGatekeepers
PurchaserPurchaserPurchaserPurchaser UsersUsersUsersUsers
Ref: Marketing by Lamb
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Evaluative Criteria
Ref: Marketing by Lamb
Designed & developed by E4
SBA SEMESTER ONE SESSION 7 BASICS OF MARKETING- I
Buying Situations
New BuyNew Buy
ModifiedRebuy
ModifiedRebuy
StraightRebuy
StraightRebuy
A situation requiring the purchaseof a product for the first time.
A situation requiring the purchaseof a product for the first time.
A situation where the purchaser wants some change in the original good or service.
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.
A situation in which the purchaser reorders the same goods or services without looking for new
information or investigating other suppliers.
Ref: Marketing by Lamb
