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MARKETING MANAGEMENT

Analyzing Business Markets

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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?

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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.

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Characteristics of Business

Markets

 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

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The Buying Center

 Initiators

 Users

 Influencers

 Deciders

 Approvers

 Buyers

 Gatekeepers

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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?

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Purchasing Orientations

 Buying

 Procurement

 Supply chain management

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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

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Assessing Customer Value

 Internal engineering assessment

 Field value-in-use assessment

 Focus-group value assessment

 Direct survey questions

 Conjoint analysis  Benchmarks  Compositional approach  Importance ratings

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Factors Affecting

Buyer-Supplier Relationships

 Availability of alternatives

 Importance of supply

 Complexity of supply

 Supply market dynamism