Marketing Management (Chapter-7)
Marketing Management (Chapter-7)
Marketing Management (Chapter-7)
Marketing Management
Summer 2011-2012
MARKETING MANAGEMENT
12th edition
7
Analyzing
Business Markets
Kotler Keller
Chapter Questions
VS.
What is Business Market?
Business market consists of all the
organizations that acquire goods and services
used in the production of other products and
services that are sold, rented or supplied to
others.
The major industries making up the business market
are agriculture, constructions, manufacturing,
transport, communication, public utilities, banking,
insurance, and other services.
7-5
Characteristics of Business Markets
7-8
Characteristics of Business Markets
Professional purchasing: Business goods are
often purchased by some trained purchasing
agents and they must follow purchasing policies
and procedures of their principal company.
Example: Like Buying Houses for the Garments
Sector. They follow the sequence;
- Request for quotation
- Receive proposals
- Evaluate offerings
- Issue purchase orders
- Receive products
Characteristics of Business Markets
Government Authorities
Supplier Financial Institutions Customer
Other Influencers
CEO
CEO
Marketing & Sales dept
Purchasing dept
R&D
Design dept
Design dept
Planning dept
Factories
Quality inspection
Installation dept
Installation dept
Finance/Accounts
Finance/Accounts
Legal dept
Users
Influencers
Deciders
Approvers
Buyers
Gatekeepers
Types of Business Customers
General
Problem Product
Need
Recognition Specification
Description
Supplier
Search
Proposal
Solicitation
Order
Performance Supplier
Routine
Review Selection
Specification
Stages in Buying process