7 Analyzing Business Markets - Johannessimatupang’s · PDF file29/09/2014 2 Copyright '...
Transcript of 7 Analyzing Business Markets - Johannessimatupang’s · PDF file29/09/2014 2 Copyright '...
29/09/2014
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7Analyzing
Business Markets
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Chapter Questions
What is the business market, and how doesit differ from the consumer market?
What buying situations do organizationalbuyers face?
Who participates in the business-to-business buying process?
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Chapter Questions
How do business buyers make theirdecisions?
How can companies build strongrelationships with business customers?
How do institutional buyers and governmentagencies do their buying?
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What is Organizational Buying?
Organizational buying refers to thedecision-making process by which formal
organizations establish the need forpurchased products and services, andidentify, 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
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Characteristics ofBusiness Markets Fewer buyers Close supplier-
customerrelationships
Professionalpurchasing
Many buyinginfluences
Multiple sales calls Derived demand Inelastic demand Fluctuating demand Geographically
concentrated buyers Direct purchasing
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Buying Situation
Straight Rebuy
Modified Rebuy
New Task
Systems Buying And Selling
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The Buying Center
Initiators Users Influencers Deciders
Approvers Buyers Gatekeepers
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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?
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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
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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 ofVendor Analysis
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Methods for ResearchingCustomer Value
Internal engineeringassessment
Field value-in-useassessment
Focus-group valueassessment
Direct surveyquestions
Conjoint analysis Benchmarks Compositional
approach Importance ratings
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Order Routine Specification
Stockless purchase plans Vendor-managed inventory Continuous replenishment
Categories of Buyer-SellerRelationships
Basic buying andselling
Bare bones Contractual
transaction Customer supply
Cooperativesystems
Collaborative Mutually adaptive Customer is king
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Institutional Markets
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For Review
What is the business market, and how doesit differ from the consumer market?
What buying situations do organizationalbuyers face?
Who participates in the business-to-businessbuying process?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-19
For Review
How do business buyers make theirdecisions?
How can companies build strong relationshipswith business customers?
How do institutional buyers and governmentagencies do their buying?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 7-20