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Business Marketing 6 chapter Prepared by Deborah Baker Texas Christian University Learning Objectives 1. Describe business marketing. 2. Describe the role of the Internet in business marketing. 3. Discuss the role of relationship marketing and strategic alliances in business marketing.

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business marketing

Business Marketing

6

chapter

Prepared by

Deborah Baker

Texas Christian University

Chapter 6 Version 6e

learning objectives
Learning Objectives

1. Describe business marketing.

2. Describe the role of the Internet in business marketing.

3. Discuss the role of relationship marketing and strategic alliances in business marketing.

6

chapter

Chapter 6 Version 6e

learning objectives continued
Learning Objectives (continued)

4. Identify the four major categories of business market customers.

5. Explain the North American Industry Classification System.

6. Explain the major differences between business and consumer markets.

6

chapter

Chapter 6 Version 6e

learning objectives continued4
Learning Objectives (continued)

7. Describe the seven types of business goods and services.

8. Discuss the unique aspects of business buying behavior.

6

chapter

Chapter 6 Version 6e

learning objective

1

Learning Objective

Describe business marketing.

Chapter 6 Version 6e

business marketing6

1

Business Marketing

The marketing of goods and services to individuals

and organizations for

purposes other than personal consumption.

Chapter 6 Version 6e

what is business marketing

Key is intended use

1

What is Business Marketing?

Business Products

  • Are used to manufacture other products
  • Become part of another product
  • Aid the normal operations of an organization
  • Are acquired for resale without change in form

Chapter 6 Version 6e

learning objective8

2

Learning Objective

Describe the role of the Internet in business marketing.

Chapter 6 Version 6e

e commerce

E-Commerce

The process of selling goods and services on the Internet

BusinessE-Commerce

Electronic transactions between companies

ConsumerE-Commerce

Electronic transactions between business and individuals that purchase for individual consumption

2

E-Commerce

Chapter 6 Version 6e

benefits of internet s interactivity

2

Benefits of Internet’s Interactivity
  • Convenience and increased efficiency
  • Better customer service
  • Lower transaction costs
  • New relationship-building opportunities

Chapter 6 Version 6e

extranet

2

Extranet

A private network that uses Internet technology and a browser interface.

Chapter 6 Version 6e

business e commerce benefits

2

Business E-Commerce Benefits

1. Lower prices

2. Greater selection of products and vendors

3. Access to customer and product sales data

4. Around-the-clock ordering & customer service

5. Lower costs

6. Customized products

Chapter 6 Version 6e

learning objective13

3

Learning Objective

Discuss the role of relationship

marketing and strategic alliances

in business marketing.

Chapter 6 Version 6e

strategic alliance

3

Strategic Alliance

A cooperative agreement between business firms. (strategic partnership)

Chapter 6 Version 6e

benefits of strategic alliances

3

Benefits of Strategic Alliances
  • Access to markets or to technology
  • Economies of scale by combining activities
  • Faster market entry for new products
  • Sharing of risk

Chapter 6 Version 6e

tips for successful alliances

3

Tips for Successful Alliances
  • Trust one another
  • Share a common interest
  • Bring different skills to the table
  • Share gains
  • Decide who has direct customer contact
  • Understand the importance of customer satisfaction

Chapter 6 Version 6e

keiretsu

3

Keiretsu

A network of interlocking corporate affiliates.

Chapter 6 Version 6e

learning objective18

4

Learning Objective

Identify the four major categories

of business market customers..

Chapter 6 Version 6e

categories of business customers

Producers

Categories of Business Customers

Resellers

Governments

Institutions

4

Categories of Business Customers

Chapter 6 Version 6e

learning objective20

5

Learning Objective

Explain the North American

Industry Classification System.

Chapter 6 Version 6e

naics

5

NAICS

North American

Industry

Classification

System

A detailed numbering system developed by the U.S., Canada, and Mexico

to classify North American business establishments

by their main production processes.

Chapter 6 Version 6e

naics22

5

NAICS
  • Provides common industry classification system
  • Valuable tool for marketers in analyzing, segmenting, and targeting markets
  • Data can be used to determine:
    • Number, size, and geographic dispersion of firms
    • Market potential / market share estimates
    • Sales forecasts

Chapter 6 Version 6e

learning objective23

6

Learning Objective

Explain the major differences

between business and

consumer markets.

Chapter 6 Version 6e

business vs consumer markets

Characteristic

Business Market

Consumer Market

Organizational

Individual

Demand

Volume

Larger

Smaller

# of Customers

Fewer

Many

Location

Concentrated

Dispersed

Distribution

More Direct

More Indirect

Nature of Buy

More Professional

More Personal

Buy Influence

Multiple

Single

Negotiations

More Complex

Simpler

Reciprocity

Yes

No

Leasing

Greater

Lesser

Promotion

Personal Selling

Advertising

6

Business vs. Consumer Markets

Chapter 6 Version 6e

demand in business markets

Demand is...

Description

Derived

Demand for business products results from demand for consumer products

Inelastic

A change in price will not significantly affect the demand for 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

6

Demand in Business Markets

Chapter 6 Version 6e

multiplier effect accelerator principle

6

Multiplier Effect (Accelerator Principle)

Phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Chapter 6 Version 6e

learning objective27

7

Learning Objective

Describe the seven types

of business goods and services.

Chapter 6 Version 6e

types of business products

Major Equipment

Major

Categories of Business

Products

Accessory Equipment

Raw Materials

Component Parts

Processed Materials

Supplies

Business Services

7

Types of Business Products

Chapter 6 Version 6e

learning objective29

8

Learning Objective

Discuss the unique aspects

of business buying behavior.

Chapter 6 Version 6e

business buying behavior

Buying Centers

Evaluation Criteria

Aspects of Business Buying

Behavior

Buying Situations

Purchasing Ethics

Customer Service

8

Business Buying Behavior

Chapter 6 Version 6e

buying center

8

Buying Center

All those persons in

an organization who become involved in

the purchase decision.

Chapter 6 Version 6e

roles in the buying center

Initiator

Influencers

Gatekeepers

Decider

Purchaser

Users

8

Roles in the Buying Center

Chapter 6 Version 6e

evaluative criteria for business buyers

Price

Service

Quality

8

Evaluative Criteria for Business Buyers

Chapter 6 Version 6e

buying situations

New Buy

Modified Rebuy

StraightRebuy

8

Buying Situations

Chapter 6 Version 6e

buying situations35

New Buy

A situation requiring the purchase

of a product for the first time.

Modified

Rebuy

A situation where 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 investigating other suppliers.

8

Buying Situations

Chapter 6 Version 6e

customer service

Customer Service is enhanced through technology

Online Services

World Wide Web

CD-ROMs

8

Customer Service

Chapter 6 Version 6e