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Understanding Business Markets and Buying Processes

This document provides an overview of analyzing business markets for marketing management. It discusses that a business market involves organizations that acquire goods and services for production, differing from a consumer market of individuals. Key aspects of business markets covered include smaller numbers of larger buyers, close supplier relationships, professional purchasing, and derived demand. The document also examines different buying situations, roles in a business buying center, types of business customers, and the stages of a typical business purchasing process.

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Iqbal Kabir
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68 views8 pages

Understanding Business Markets and Buying Processes

This document provides an overview of analyzing business markets for marketing management. It discusses that a business market involves organizations that acquire goods and services for production, differing from a consumer market of individuals. Key aspects of business markets covered include smaller numbers of larger buyers, close supplier relationships, professional purchasing, and derived demand. The document also examines different buying situations, roles in a business buying center, types of business customers, and the stages of a typical business purchasing process.

Uploaded by

Iqbal Kabir
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

MARKETING MANAGEMENT

12th edition
7
Analyzing
Business Markets

Kotler Keller
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?
 How do business buyers make their
decisions?

7-2
Business Market

All the organizations that acquire goods and services


used in the production that are sold to others.

Consumer Market
All the individuals directly involved in obtaining and using
goods and services.

7-3
Characteristics of Business Markets

 Fewer, larger buyers  Inelastic demand


 Close supplier-customer  Fluctuating demand
relationships  Geographically
 Professional purchasing concentrated buyers
 Many buying influences  Direct purchasing
 Derived demand

7-4
• Buying Situations
 Straight rebuy
 Modified rebuy
 New task

•The Buying Center


 Initiators  Approvers
 Users  Buyers
 Influencers  Gatekeepers
 Deciders

7-5
• 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?

7-6
• Types of Business Customers
 Price-oriented  Gold-standard
 Solution-oriented  Strategic-value

• Product-Related Purchasing Processes


 Routine products
 Leverage products
 Strategic products
 Bottleneck products

7-7
• Stages in the Buying Process
1. Problem recognition
2. General need description
3. Product specification
4. Supplier search
5. Proposal solicitation
6. Supplier selection
7. Order-routine specification
8. Performance review

7-8

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