Business Markets (chapter 7)

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Auren Galang

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Auren B. Galang Marketing Management Middle Managers 04.20.10

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Business Markets Business Buyer Behavior The Business Buying Process E-Procurement: Buying on the Internet Institutional and Government Markets Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others. Business buying process is the process where business buyers determine which products and services are needed to purchase, and then find, evaluate, and choose among alternative brands Supplier development is the systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will resell or use in making their own products

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D1 What are some reasons management opposes unionization? Do you agree or disagree with these reasons? Why or why not? Present your views in approximately 250 words in your initial discussion post. D2 What were the driving forces that led people to sacrifice so much to form unions? Was it worth it? What benefits were derived? What sacrifices were made? Present your views in approximately 250 words in your initial discussion post. Marketing Management Fifteenth Edition Chapter 7 Analyzing Business Markets Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved If this PowerPoint presentation contains mathematical equations, you may need to check that your computer has the following installed: 1) MathType Plugin 2) Math Player (free versions available) 3) NVDA Reader (free versions available) 1 Learning Objectives 7.1 What is organizational buying? 7.2 What buying situations do business buyers face? 7.3 Who participates in the business-to-business buying process? 7.4 How do business buyers make their decisions? 7.5 In what ways can business-to-business companies develop effective marketing programs? 7.6 How can companies build strong loyalty relationships with business customers? 7.7 How do institutional buyers and government agencies do their buying? Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved What is Organizational Buying? Business market Consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved Frederick E. Webster Jr. and Yoram Wind define organizational buying as 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. Any firm that supplies components for products is in the business-to-business marketplace. More dollars and items change hands in sales to business buyers than to consumers. 3 Business Markets Fewer, larger buyers Close supplier–customer relationships Professional purchasing Multiple buying influences Multiple sales calls Derived demand Inelastic demand Fluctuating demand Geographically concentrated buyers Direct purchasing Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved Business marketers contrast sharply with consumer markets in some ways. The business marketer normally deals with far fewer, much larger buyers than the consumer marketer does, particularly in such industries as aircraft engines and defense weapons. Because of the smaller customer base and the importance and power of the larger customers, suppliers are frequently expected to customize their offerings to individual business customer needs. Business goods are often purchased by trained purchasin.

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Chapter 4 Business, Government, and Institutional Buying © McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education. Chapter Outline Categories of organizational buyers The organizational buying process Purchase-type influences on organizational buying Structural influences on organizational buying Behavioral influences on organizational buying Stages in the organizational buying process © McGraw-Hill Education Business-to-Business or B 2 B Marketing Marketing products and services to producers, intermediaries, government agencies, and other institutions rather than to consumers Major area for profitable internet marketing © McGraw-Hill Education Categories of Organizational Buyers Producers: Buy goods and services in order to produce other goods and services for sale Intermediaries: Purchase products to resell at a profit Government agencies: Operate at the federal, state, and local levels Other institutions: Hospitals, museums, universities, nursing homes, and churches © McGraw-Hill Education Figure 4.1: A Model of the Organizational Buying Process Jump to Figure 4.1: A model of the Organizational Buying Process, Appendix © McGraw-Hill Education 5 Purchase-Type Influences on Organizational Buying, 1 Straight rebuy: Routinely reordering a product from the same supplier that it had been purchased from in the past Fast and requires few employees Common among organizations that practice just-in-time inventory Just-in-time inventory: System of replenishing parts or goods for resale just before they are needed Modified rebuy: Consideration of a limited number of alternatives before making a selection Organizational buyer considers the new information and decides what changes to make If the change proves satisfactory and the product is required routinely, the buyer may then make it a straight rebuy © McGraw-Hill Education Purchase-Type Influences on Organizational Buying, 2 New task purchase: Involves an extensive search for information and a formal decision process Used for big-ticket items Time consuming Involves a relatively large number of decision makers May involve joint decision making © McGraw-Hill Education Marketing Tactics for Reaching Organizational Buyers, 1Type of PurchaseMarketing Element Promotional ApproachStraight rebuyAdvertising Use reminder advertising Build image for companyPromotionHospitality events at trade showsSellingAny personal selling is designed to build relationships Automate the purchasing process, perhaps through E D I or electronic data exchange Modified rebuyAdvertising Use comparison advertising to show differences between your product and similar productsPromotionCustomer site demonstrations, hospitality events at trade showsSellingProtect relationship with current customers with plant tours, special trade-in pricing, ...

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