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Transcript of 7 Analyzing Business Markets 1. Chapter Questions What is the business market, and how does it...
7Analyzing
Business Markets
1
Chapter Questions
What is the business market, and how does it differ from the consumer market?
What buying situations do organizational buyers face?
Who participates in the business-to-business buying process?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-2
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-3
Chapter Questions
How do business buyers make their decisions?
How can companies build strong relationships with business customers?
How do institutional buyers and government agencies do their buying?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-4
What is Organizational Buying?
Organizational buying refers to the decision-making process by which formal
organizations establish the need for purchased products and services, and identify, evaluate, and choose among
alternative brands and suppliers.
Top Marketing Challenges
Understanding customer needs in new ways; Identifying new opportunities for growth; Improving value management techniques Calculating better marketing performance and
accountability metrics; Competing and growing in global markets Countering the threat of product and service
commoditization Convincing C-level executives to embrace the
marketing concept
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-5
Characteristics of Business Markets Fewer buyers Close supplier-
customer relationships
Professional purchasing
Many buying influences
Multiple sales calls Derived demand Inelastic demand Fluctuating demand Geographically
concentrated buyers Direct purchasing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-6
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-7
Buying Situation
Straight Rebuy
Modified Rebuy
New Task
Systems Buying And Selling
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-8
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-9
The Buying Center
Initiators Users Influencers Deciders
Approvers Buyers Gatekeepers
Of Concern to Marketers
Who are the major decision participants? What decisions do they influence? What is their level of influence? What evaluation criteria do they use?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-10
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-11
Stages in the Buying Process: Buyphases
Problem recognition General need description Product specification Supplier search Proposal solicitation Supplier selection Order-routine specification Performance review
Table 7.1 Buygrid Framework
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-12
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-13
Forms of Electronic Marketplaces
Catalog sites Vertical markets Pure play auction sites Spot markets Private exchanges Barter markets Buying alliances
Table 7.2 An Example of Vendor Analysis
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-14
Methods for Researching Customer Value
Internal engineering assessment
Field value-in-use assessment
Focus-group value assessment
Direct survey questions
Conjoint analysis Benchmarks Compositional
approach Importance ratings
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-15
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-16
Order Routine Specification
Stockless purchase plans Vendor-managed inventory Continuous replenishment
Categories of Buyer-Seller Relationships
Basic buying and selling
Bare bones Contractual
transaction Customer supply
Cooperative systems
Collaborative Mutually adaptive Customer is king
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-17
Institutional Markets
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-18
For Review
What is the business market, and how does it differ from the consumer market?
What buying situations do organizational buyers face?
Who participates in the business-to-business buying process?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-19
For Review
How do business buyers make their decisions?
How can companies build strong relationships with business customers?
How do institutional buyers and government agencies do their buying?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-20
