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Analyzing Business Markets

Analyzing Business Markets. Chapter Questions. What is the business market, and how does it differ from the consumer market? What buying situations do organizational buyers face? Who participates in the business-to-business buying process?. Chapter Questions.

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Analyzing Business Markets

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  1. Analyzing Business Markets www.assignmentpoinr.com

  2. Chapter Questions • What is the business market, and how does it differ from the consumer market? • What buying situations do organizational buyers face? • Who participates in the business-to-business buying process? www.assignmentpoinr.com

  3. Chapter Questions • How do business buyers make their decisions? • How can companies build strong relationships with business customers? • How do institutional buyers and government agencies do their buying? www.assignmentpoinr.com

  4. Organizational Buying 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. www.assignmentpoinr.com

  5. Fewer, larger buyers Close supplier-customer relationships Professional purchasing Many buying influences Multiple sales calls Derived demand Inelastic demand Fluctuating demand Geographically concentrated buyers Direct purchasing Characteristics of Business Markets www.assignmentpoinr.com

  6. Buying Situation • Straight rebuy • Modified rebuy • New task www.assignmentpoinr.com

  7. The Buying Center • Initiators • Users • Influencers • Deciders • Approvers • Buyers • Gatekeepers www.assignmentpoinr.com

  8. Of Concern to Business Marketers • Who are the major decision participants? • What decisions do they influence? • What is their level of influence? • What evaluation criteria do they use? www.assignmentpoinr.com

  9. Price-oriented Solution-oriented Gold-standard Strategic-value Types of Business Customers www.assignmentpoinr.com

  10. Handling Price-Oriented Customers • Limit quantity purchased • Allow no refunds • Make no adjustments • Provide no services www.assignmentpoinr.com

  11. Purchasing Orientations • Buying • Procurement • Supply chain management www.assignmentpoinr.com

  12. Product-Related Purchasing Processes • Routine products • Leverage products • Strategic products • Bottleneck products www.assignmentpoinr.com

  13. Methods of e-Procurement • Websites organized using vertical hubs • Websites organized using functional hubs • Direct extranet links to major suppliers • Buying alliances • Company buying sites www.assignmentpoinr.com

  14. Forms of Electronic Marketplaces • Catalog sites • Vertical markets • Pure play auction sites • Spot markets • Private exchanges • Barter markets • Buying alliances www.assignmentpoinr.com

  15. Internal engineering assessment Field value-in-use assessment Focus-group value assessment Direct survey questions Conjoint analysis Benchmarks Compositional approach Importance ratings Assessing Customer Value www.assignmentpoinr.com

  16. Order Routine Specification and Inventory • Stockless purchase plans • Vendor-managed inventory • Continuous replenishment www.assignmentpoinr.com

  17. Desirable Outcomes of a B2B transaction: OTIFNE • On time • In full • No error www.assignmentpoinr.com

  18. Establishing Corporate Credibility • Expertise • Trustworthiness • Likeability www.assignmentpoinr.com

  19. Factors Affecting Buyer-Supplier Relationships • Availability of alternatives • Importance of supply • Complexity of supply • Supply market dynamism www.assignmentpoinr.com

  20. Basic buying and selling Bare bones Contractual transaction Customer supply Cooperative systems Collaborative Mutually adaptive Customer is king Categories of Buyer-Seller Relationships www.assignmentpoinr.com

  21. Opportunism Some form of cheating or undersupply relative to an implicit or explicit contract. www.assignmentpoinr.com

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