Flashcards
Marketing Chapter 7
Cards in this deck (10)
- 1Business MarketingThe key is intended use.
Business Products:
- Are used to manufacture other
products
- Become part of another product
- Aid the normal operations of an
organization - 2Major Categories of Business Customers1. Producers - OEMS
2. Resellers - Wholesalers, retailers
3. Governments - Federal, municipal, local
4. Institutions - schools, churches, civic clubs, hospitals - 3Strategic AlliancesA cooperative agreement between business firms (strategic partnerships)
- 4North American Industry Classification System (NAICS)*A detailed
numbering system developed by the United States, Canada, and Mexico to classify North American business establishments by their main production processes.
- Provides a common industry classification system
- Valuable tool for marketers in analyzing, segmenting, & targeting markets
Data can be used to determine:
- Number, size, & geographic, dispersion of firms
– Market potential / market share estimates
– Sales forecasts
– New customer identification - 5Business VS Consumer MarketsDemand: Business (B) - Organizational, Consumer (C) - Individual
Volume: Business - Larger, Consumer - Smaller
# of Consumers: B - Fewer, C - Many
Location: B: Concentrated, C: Dispersed
Distribution: B - More Direct, C - More Indirect
Nature of Buy: B - More Professional, C - More Personal
Buy Influence: B - Multiple, C - Single
Negoitations: B - More Complex, C - Simpler
Recipicity: B - Yes, C - No
Leasing: B - Greater, C - Lesser
Promotion: B - Personal Selling, C - Advertising - 6Demand in Business MarketsDerived: demand for business products results from demand for consumer products
Inelastic: a change in price will not significantly affect the demand for the 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 - 7Business Purchase Processes Factors1. Buying Centers
2. Evaluative Criteria
3. Buying Situations
4. Business Ethics
5. Customer Service - 8Roles in Buying Centers- Initators
- Influencers
- Gatekeepers
- Deciders
- Purchasers
- Users - 9Evaluative Criteria1. Quality
2. Service
3. Price - 10Buying SituationsNew Buy: a situation requiring the purchase of a product for the first time
Modified Rebuy: a situation in which 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 investigation of other suppliers
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- Business Analyst Marketing Flashcards on Marketing Chapter 7, created by Jack Fogel on 06/10/2025.
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- Jack Fogel
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