Top 8 Concepts in ANALYZING BUSINESS MARKETS Leslie B Co Kehyeng ASMPH 12 May 2010
The Business Market is different from the Consumer Market What is the business market? Who are involved in the buying and selling? How do buyers make their decision?
1: The Business Market where products are sold as part of another production process
Kotler: Texas Instruments, PPG Industries Local: PLDT/SMART, Neo laptop RP Medical Application: Hospital services, PhilHealth, Anti-rabies vaccine 1: The Business Market
Straight rebuy Modified rebuy New task 2: Buying Situationsaffects the buying requirements, the people involved, and the time required
Kotler: Orica Ltd. Local: Light Railway Transit (LRT), Smartmatic PCOS RP Medical Application: generic drugs, B Braun 2: Buying Situationsaffects the buying requirements, the people involved, and the time required
3: Systems Buying and SellingBidding and Contracting
Kotler:Shell Oil Local: Architectural firms RP Medical Application: IT firmware used by TMC 3: Systems Buying and SellingBidding and Contracting
4: The Buying Center consists of members with roles
Individuals/groups in the purchasing decision-making process Kotler:Consultants and technical advisors Local:Government officials RP Medical Application:Patients, hospitals administrators
5: Satisfying Key Buying Influencers Constant communication -- Buyers exhibit different buying styles -- Individuals are motivated by their own needs and perceptions in attempting to maximize the rewards
Companies reach hidden buying influences and keep current customers informed Kotler:Symantec Corp (Norton) Local:Market research companies RP Medical Application:Medical representatives
6: BUYPHASES – Buying process stages
6: BUYPHASES – Buying process stages Kotler: Lincoln Electric Local: Tiangge RP Medical Application: Shopping for doctors
7: The Benefits of Vertical Coordination Trust and teamwork Activities that create more value for both parties Efforts to build..
Kotler: Motoman Inc & Stillwater tech. Local: Food stalls inside schools RP Medical Application: Maxicare inside TMC 7: The Benefits of Vertical Coordination