Chapter 7 – Analyzing Business Markets · Chapter 7 – Analyzing Business Markets M arketing M...
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Chapter 7 – Analyzing Business Markets
Marketing Management
Md Afnan Hossain – Lecturer SouthEast UniversityCourse Code: Mkt 3123 (D,E)
Contents Source: Kotlar, Keller, Koshy, Jha (2014) Marketing Management.
Forbes, The Economist, Wall Street Journal, Financial Times, Business Week, CNN Business
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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.among alternative brands and suppliers.
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Top Business Marketing Challenges
Expand understanding of customer needs
Compete globally as China and India reshape markets
Master analytical tools and improve quantitative skillsskills
Reinstate innovation as an engine of growth
Create new organizational models and linkages
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Characteristics of Business Markets
Fewer, larger buyers
Close supplier-customer relationships
Professional purchasing
Multiple sales calls
Derived demand
Inelastic demand
Fluctuating demandpurchasing
Many buying influences
Fluctuating demand
Geographically concentrated buyers
Direct purchasing
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Buying Situation
Straight rebuy
Modified rebuyModified rebuy
New task
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The Buying Center
Initiators
Users
Influencers
Deciders
Approvers
Buyers
Gatekeepers
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Sales Strategies
Small SellersKey Buying Influencers
Large Sellers
Influencers
MultilevelIn-depthSelling
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Stages in the Buying Process
Problem recognition General need description Product specification Supplier search Supplier search Proposal solicitation Supplier selection Order-routine specification Performance review
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Buygrid Framework
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Forms of Electronic Marketplaces
• Catalog sites• Catalog sites• Vertical markets
• Pure play auction sites• Spot markets
• Private exchanges• Barter markets
• Buying alliances
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Methods of e-Procurement
Direct extranet links to major suppliers
Buying alliances
Company buying sites Company buying sites
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Handling Price-Oriented Customers
Limit quantity purchased
Allow no refunds
Make no adjustments
Provide no services
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Methods for Researching Customer Value
Internal engineering assessment
Field value-in-use assessment
Conjoint analysis
Benchmarks
Compositional assessment
Focus-group value assessment
Direct survey questions
Compositional approach
Importance ratings
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Order Routine Specification
Stockless purchase plans
Vendor-managedVendor-managedinventory
Continuous replenishment
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Establishing Corporate Trust and Credibility
Expertise
LikeabilityTrustworthiness
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Trust Dimensions
Transparent
Product/ServiceQuality
Cooperating Design
Product ComparisonQuality
Incentive
Partnering
Comparison
Supply Chain
Pervasive Advocacy
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Factors Affecting Buyer-Supplier Relationships
Availability of alternatives
Importance ofsupplyalternatives
Supply marketdynamism
Complexity ofsupply
supply
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Categories of Buyer-Seller Relationships
Basic buying and selling
Bare bones
Cooperative systems
Collaborative
Mutually adaptive Contractual transaction
Customer supply
Mutually adaptive
Customer is king
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What is Opportunism?
Opportunism is some form of cheating or undersupply relative to an implicit or
explicit contract.
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Marketing Debate
how different is B-to-B marketing?
Take a position:1. Business-to-business marketingrequires a special, unique set of marketingconcepts and principles. concepts and principles.
or
2. Business-to-business marketing is really not that different and the basic marketingprinciples apply.