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Business Marketing

Business Marketing

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Business Marketing

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  1. Business Marketing 6 chapter Prepared by Deborah Baker Texas Christian University Chapter 6 Version 6e

  2. Learning Objectives 1. Describe business marketing. 2. Describe the role of the Internet in business marketing. 3. Discuss the role of relationship marketing and strategic alliances in business marketing. 6 chapter Chapter 6 Version 6e

  3. Learning Objectives (continued) 4. Identify the four major categories of business market customers. 5. Explain the North American Industry Classification System. 6. Explain the major differences between business and consumer markets. 6 chapter Chapter 6 Version 6e

  4. Learning Objectives (continued) 7. Describe the seven types of business goods and services. 8. Discuss the unique aspects of business buying behavior. 6 chapter Chapter 6 Version 6e

  5. 1 Learning Objective Describe business marketing. Chapter 6 Version 6e

  6. 1 Business Marketing The marketing of goods and services to individuals and organizations for purposes other than personal consumption. Chapter 6 Version 6e

  7. Key is intended use 1 What is Business Marketing? Business Products • Are used to manufacture other products • Become part of another product • Aid the normal operations of an organization • Are acquired for resale without change in form Chapter 6 Version 6e

  8. 2 Learning Objective Describe the role of the Internet in business marketing. Chapter 6 Version 6e

  9. E-Commerce The process of selling goods and services on the Internet BusinessE-Commerce Electronic transactions between companies ConsumerE-Commerce Electronic transactions between business and individuals that purchase for individual consumption 2 E-Commerce Chapter 6 Version 6e

  10. 2 Benefits of Internet’s Interactivity • Convenience and increased efficiency • Better customer service • Lower transaction costs • New relationship-building opportunities Chapter 6 Version 6e

  11. 2 Extranet A private network that uses Internet technology and a browser interface. Chapter 6 Version 6e

  12. 2 Business E-Commerce Benefits 1. Lower prices 2. Greater selection of products and vendors 3. Access to customer and product sales data 4. Around-the-clock ordering & customer service 5. Lower costs 6. Customized products Chapter 6 Version 6e

  13. 3 Learning Objective Discuss the role of relationship marketing and strategic alliances in business marketing. Chapter 6 Version 6e

  14. 3 Strategic Alliance A cooperative agreement between business firms. (strategic partnership) Chapter 6 Version 6e

  15. 3 Benefits of Strategic Alliances • Access to markets or to technology • Economies of scale by combining activities • Faster market entry for new products • Sharing of risk Chapter 6 Version 6e

  16. 3 Tips for Successful Alliances • Trust one another • Share a common interest • Bring different skills to the table • Share gains • Decide who has direct customer contact • Understand the importance of customer satisfaction Chapter 6 Version 6e

  17. 3 Keiretsu A network of interlocking corporate affiliates. Chapter 6 Version 6e

  18. 4 Learning Objective Identify the four major categories of business market customers.. Chapter 6 Version 6e

  19. Producers Categories of Business Customers Resellers Governments Institutions 4 Categories of Business Customers Chapter 6 Version 6e

  20. 5 Learning Objective Explain the North American Industry Classification System. Chapter 6 Version 6e

  21. 5 NAICS North American Industry Classification System A detailed numbering system developed by the U.S., Canada, and Mexico to classify North American business establishments by their main production processes. Chapter 6 Version 6e

  22. 5 NAICS • Provides common industry classification system • Valuable tool for marketers in analyzing, segmenting, and targeting markets • Data can be used to determine: • Number, size, and geographic dispersion of firms • Market potential / market share estimates • Sales forecasts Chapter 6 Version 6e

  23. 6 Learning Objective Explain the major differences between business and consumer markets. Chapter 6 Version 6e

  24. Characteristic Business Market Consumer Market Organizational Individual Demand Volume Larger Smaller # of Customers Fewer Many Location Concentrated Dispersed Distribution More Direct More Indirect Nature of Buy More Professional More Personal Buy Influence Multiple Single Negotiations More Complex Simpler Reciprocity Yes No Leasing Greater Lesser Promotion Personal Selling Advertising 6 Business vs. Consumer Markets Chapter 6 Version 6e

  25. Demand is... Description Derived Demand for business products results from demand for consumer products Inelastic A change in price will not significantly affect the demand for product Joint Multiple items are used together in final product. Demand for one item affects all Fluctuating Demand for business products is more volatile than for consumer products 6 Demand in Business Markets Chapter 6 Version 6e

  26. 6 Multiplier Effect (Accelerator Principle) Phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product. Chapter 6 Version 6e

  27. 7 Learning Objective Describe the seven types of business goods and services. Chapter 6 Version 6e

  28. Major Equipment Major Categories of Business Products Accessory Equipment Raw Materials Component Parts Processed Materials Supplies Business Services 7 Types of Business Products Chapter 6 Version 6e

  29. 8 Learning Objective Discuss the unique aspects of business buying behavior. Chapter 6 Version 6e

  30. Buying Centers Evaluation Criteria Aspects of Business Buying Behavior Buying Situations Purchasing Ethics Customer Service 8 Business Buying Behavior Chapter 6 Version 6e

  31. 8 Buying Center All those persons in an organization who become involved in the purchase decision. Chapter 6 Version 6e

  32. Initiator Influencers Gatekeepers Decider Purchaser Users 8 Roles in the Buying Center Chapter 6 Version 6e

  33. Price Service Quality 8 Evaluative Criteria for Business Buyers Chapter 6 Version 6e

  34. New Buy Modified Rebuy StraightRebuy 8 Buying Situations Chapter 6 Version 6e

  35. New Buy A situation requiring the purchase of a product for the first time. Modified Rebuy A situation where the purchaser wants some change in the original good or service. Straight Rebuy A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers. 8 Buying Situations Chapter 6 Version 6e

  36. Customer Service is enhanced through technology Online Services World Wide Web CD-ROMs 8 Customer Service Chapter 6 Version 6e