Transcript Marketing project chapters 6.7.8.9 Names: khalid AL

Chapter 6
 Business
markets contain fewer but
larger buyers
 Business purchases involve more buyers
 business buying involves a more
professional purchasing effort
 Business buyers usually face more
complex buying decisions
 There
are 3 types of buying situations:
 Straight buy: A business buying situation in
which the buyer routinely reorders
something without any modification.
 Modified rebuy: A business buying situation
in which the buyer wants to modify product
specifications, prices, terms, or suppliers.
 New task: A business buying situation in
which the buyer purchases a product or
service for the first time.
Participants in the business buying process are as
follows:
 Users: Members of the buying organization who will
actually use the purchased product or service.
 Influencers: People in an organization’s buying
center who affect the buying decisions; they often
help define specifications and also provide
information for evaluating alternatives.
 Buyers: People in an organization’s buying center
who make an actual purchase.
 Deciders: People in an organization’s buying center
who have formal or informal power to select or
approve the final suppliers.
 Gatekeepers: People in an organization’s buying
center who control the flow of information to others

 There
are many major influences on
business buyers such as environmental
 organizational, interpersonal, and
individual
 Environmental factors consist of the
economy and demand, supply conditions,
technology, politics, competition from
others and cultures and customs
The business buying process is an eight stage
system that buyers who face a new task buying
situation usually go through.
 The first stage is when someone in the company
recognizes a problem or need that can be met by
acquiring a good or a service
 The second stage describes the general
characteristics and quantity of a needed item
 The third stage is when the buying organization
decides on and specifies the best technical
product characteristics for a needed item

 Advances
in information technology have
made it possible for companies to engage
in B-to-B transactions online
 They named it: e-procurement. Companies
can do e-procurement in many ways
 They can conduct reverse auctions, in which
they put their purchasing requests online
and invite suppliers to bid for the business
 Companies also can conduct e-procurement
by setting up their own company buying
sites
 Companies
today recognize that they
cannot appeal to all buyers in the
marketplace
 Market segmentation divides a market into
smaller segments with distinct needs
 behavior that might require separate
marketing strategies or mixes
 To value each market segment’s
attractiveness and to select on or more
segments to enter we use market targeting
 The
third step in customer-driven market
strategy is differentiation where we
differentiate
 the market offering to create superior
customer value
 The final step is positioning
 desirable place relative to competing
products in the minds of target
consumers
 Consumer
product is a product bought by
final consumers for personal consumption
 . Shopping product is a consumer product
that the customer in the process of selecting
and purchasing usually compares on such
attributes as suitability
 Industrial product is a product bought by
individuals and organizations for further
processing or for use in conducting a
business.
 Person
marketing consists of activities
undertaken to create, maintain, or change
attitudes or behavior toward particular
people
 Place marketing involves activities
undertaken to create, maintain
 Social marketing is the use of commercial
marketing concepts and tools in programs
designed to influence individuals’ behavior
to improve their well-being and that of
society.
 Product
quality is the characteristics of a
product or service that bear on its ability to
satisfy stated or implied customer needs
 Brand is a name, term, sign, symbol, design,
or a combination of these that identifies the
products
 . Packaging is the activity of designing and
producing the container or wrapper for a
product.
 Internal
marketing: orienting and
motivating customer contact employees and
supporting service people to work as a
team to provide customer satisfaction
 Interactive marketing is training service
employees in the fine art of interacting with
customers to satisfy their needs
 Brand equity is the differential effect that
knowing the brand name has own customer
response to the product or its marketing
 Idea
generation is the systematic search
for new product ideas
 Companies can also obtain good new
product ideas from any of a number of
external sources.
 Crowdsourcing is inviting broad
communities of people,
 Product concept is a detailed version of
the new product idea stated in
meaningful consumer terms
 Marketing
strategy development is
designing an initial marketing strategy
for a new product based on the product
concept
 The marketing strategy statement
consists of three parts
 The first part describes the target market
 the sales market share and profit goals
for the first few years.
 Business
analysis is a review of the sales,
costs
 Product development is developing the
product concept in to a physical product
to ensure that the product idea can be
turned into a workable market offering
 Test marketing is the stage of new
product development in which the
product and its proposed marketing
program are tested in realistic market
settings
 The
new product development process
should be holistic and systematic rather
than compartmentalized and haphazard
 Product life cycle is the course of a
product’s sales and profits over its
lifetime
 . Style is basic and distinctive mode of
expression
 Fad is a temporary period of unusually
high sales driven by consumer
enthusiasm and immediate product or
brand popularity