Hi! I am Aileen Garcia and this is to explain the chapter concepts found in Chapter 7 - Analyzing Business Markets of the 15th edition of Kotler's Marketing Management as a requirement for my v88 Marketing Management class under the guidance of vCoach Bong De Ungria.
Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
Week 1 Lecture
The Nature of Business Research
Business research covers a wide range of phenomena. For managers, the purpose of research is to provide knowledge regarding the organization, the market, the economy, or another area of uncertainty. A financial manager may ask, “Will the environment for long-term financing be better two years from now?†A personnel manager may ask, “What kind of training is necessary for production employees?†or “What is the reason for the company’s high employee turnover?†A marketing manager may ask, “How can I monitor my retail sales and retail trade activities?†Each of these questions requires information about how the environment, employees, customers, or the economy will respond to executives’ decisions. Research is one of the principal tools for answering these practical questions.
Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. Business research is more than conducting surveys.6 This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, and communicating the findings and their implications.
Applied business research is conducted to address a specific business decision for a specific firm or organization. The opening vignette describes a situation in which ESPN used applied research to decide how to best create knowledge of its sports fans and their preferences. Basic business research (sometimes referred to as pure research) is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.
All research, whether basic or applied, involves the scientific method. The scientific method is the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. The scientific method is the same in social sciences, such as business, as in physical sciences, such as physics. In this case, it is the way we come to understand business phenomena.
A firm can be production-oriented. A production-oriented firm prioritizes the efficiency and effectiveness of production processes in making decisions. Here, research providing input from workers, engineers, finance, and accounting becomes important as the firm seeks to drive costs down. Production-oriented firms are usually very large firms manufacturing products in very large quantities. The third orientation is marketing- oriented, which focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer. Research addressing consumer desires, beliefs, and attitudes becomes essential.
Diagnosing Opportunities: After a.
ICH Guidelines for Pharmacovigilance.pdfNEHA GUPTA
The "ICH Guidelines for Pharmacovigilance" PDF provides a comprehensive overview of the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) guidelines related to pharmacovigilance. These guidelines aim to ensure that drugs are safe and effective for patients by monitoring and assessing adverse effects, ensuring proper reporting systems, and improving risk management practices. The document is essential for professionals in the pharmaceutical industry, regulatory authorities, and healthcare providers, offering detailed procedures and standards for pharmacovigilance activities to enhance drug safety and protect public health.
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Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
Week 1 Lecture
The Nature of Business Research
Business research covers a wide range of phenomena. For managers, the purpose of research is to provide knowledge regarding the organization, the market, the economy, or another area of uncertainty. A financial manager may ask, “Will the environment for long-term financing be better two years from now?†A personnel manager may ask, “What kind of training is necessary for production employees?†or “What is the reason for the company’s high employee turnover?†A marketing manager may ask, “How can I monitor my retail sales and retail trade activities?†Each of these questions requires information about how the environment, employees, customers, or the economy will respond to executives’ decisions. Research is one of the principal tools for answering these practical questions.
Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. Business research is more than conducting surveys.6 This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, and communicating the findings and their implications.
Applied business research is conducted to address a specific business decision for a specific firm or organization. The opening vignette describes a situation in which ESPN used applied research to decide how to best create knowledge of its sports fans and their preferences. Basic business research (sometimes referred to as pure research) is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.
All research, whether basic or applied, involves the scientific method. The scientific method is the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. The scientific method is the same in social sciences, such as business, as in physical sciences, such as physics. In this case, it is the way we come to understand business phenomena.
A firm can be production-oriented. A production-oriented firm prioritizes the efficiency and effectiveness of production processes in making decisions. Here, research providing input from workers, engineers, finance, and accounting becomes important as the firm seeks to drive costs down. Production-oriented firms are usually very large firms manufacturing products in very large quantities. The third orientation is marketing- oriented, which focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer. Research addressing consumer desires, beliefs, and attitudes becomes essential.
Diagnosing Opportunities: After a.
ICH Guidelines for Pharmacovigilance.pdfNEHA GUPTA
The "ICH Guidelines for Pharmacovigilance" PDF provides a comprehensive overview of the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) guidelines related to pharmacovigilance. These guidelines aim to ensure that drugs are safe and effective for patients by monitoring and assessing adverse effects, ensuring proper reporting systems, and improving risk management practices. The document is essential for professionals in the pharmaceutical industry, regulatory authorities, and healthcare providers, offering detailed procedures and standards for pharmacovigilance activities to enhance drug safety and protect public health.
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Defecation
Normal defecation begins with movement in the left colon, moving stool toward the anus. When stool reaches the rectum, the distention causes relaxation of the internal sphincter and an awareness of the need to defecate. At the time of defecation, the external sphincter relaxes, and abdominal muscles contract, increasing intrarectal pressure and forcing the stool out
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CONSTIPATION
Constipation is a symptom, not a disease. Improper diet, reduced fluid intake, lack of exercise, and certain medications can cause constipation. For example, patients receiving opiates for pain after surgery often require a stool softener or laxative to prevent constipation. The signs of constipation include infrequent bowel movements (less than every 3 days), difficulty passing stools, excessive straining, inability to defecate at will, and hard feaces
IMPACTION
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HEMORRHOIDS
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FLATULENCE
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FECAL INCONTINENCE
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Chap 7 Analyzing Business Markets by Aileen DS-Garcia v88.2
1. Aileen Delos Santos-Garcia, MD
ATENEO GRADUATE SCHOOL OF BUSINES
S
MASTERS IN BUSINESS ADMINISTRATION - HEALT
H
V88 Marketing Management
That is the question
B2B
or
not B2B? ANALYZING
BUSINES
S
MARKETS
Chap 7: Kotler, 15ed
2. 2
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
3. 3
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
6. 6
Business Market
consists of all the organizations
that acquire goods and services
used in the production of other products or services
that are sold, rented, or supplied to others.
https://www.linkedin.com/in/docays/
7. organizations that acquire
goods and services
Business to Business
ILLUSTRATION
sold, rented, or
supplied to others.
used in the production of
other products or services
https://www.linkedin.com/in/docays/
8. organizations that acquire
goods and services
Business to Business
Local Application
sold, rented, or
supplied to others.
used in the production of
other products or services
https://www.linkedin.com/in/docays/
11. 11
sell products to companies sell products to individuals
Professional purchasing Can make emotional decisions
Close supplier-customer relationship
(based on long term relationship)
Based on short term relationships
Fewer clients
and larger buyers
Many clients and
low purchasing volume
Multiple buying in
fl
uences Usually singular to few in
fl
uence
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12. 12
Derived demand Can make emotional decisions
Inelastic demand Elastic demand
geographically concentrated buyers Diverse buyers
Direct purchasing From resellers or retailers
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13. 13
Derived demand Can make emotional decisions
Inelastic demand Elastic demand
geographically concentrated buyers Diverse buyers
Direct purchasing From resellers or retailers
https://www.linkedin.com/in/docays/
14. 14
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
15. 15
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
16. the decision-making process by which formal organizations
establish the need for purchased products and services and
identify, evaluate, and choose among alternative brands and suppliers.
Organizational Buying
-
Frederick E. Webster Jr. and Yoram Wind
https://www.linkedin.com/in/docays/
17. 17
-
The business buyer faces many decisions in making a purchase.
Buying Situations
‣ depends on the complexity of the problem being solved
‣ newness of the buying requirement
‣ number of people involved
‣ time required
1. Straight rebuy
2. Modified rebuy
3. New task
FACTORS
TYPES
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18. 18
-
The business buyer faces many decisions in making a purchase.
Buying Situations
‣ depends on the complexity of the problem being solved
‣ newness of the buying requirement
‣ number of people involved
‣ time required
1. Straight rebuy
2. Modified rebuy
3. New task
FACTORS
TYPES
https://www.linkedin.com/in/docays/
19. 19
TYPES of Buying Situations
1. Straight rebuy
2. Modified rebuy
3. New task
‣ the purchasing department reorders supplies on a
ROUTINE basis and chooses from suppliers on an
approved list.
‣ suppliers make efforts to maintain product and
service quality and often propose automatic
reordering systems to save time.
https://www.linkedin.com/in/docays/
20. 20
TYPES of Buying Situations
1. Straight rebuy
2. Modified rebuy
3. New task
‣ the buyer wants to change product specifications,
prices, delivery requirements, or other terms.
‣ This usually requires additional participants on
both sides.
‣ moderate level of of involvement and time
commitment
https://www.linkedin.com/in/docays/
21. 21
TYPES of Buying Situations
1. Straight rebuy
2. Modified rebuy
3. New task ‣ A new-task purchaser buys a product or service
for the first time (an office building, a new
security system).
Unit 2512, 25/F Medical Plaza Ortigas
Condominium, San Miguel Avenue, Ortigas
Center, Pasig City
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22. 22
TYPES of Buying Situations
1. Straight rebuy
2. Modified rebuy
3. New task ‣ The greater the cost or risk, the larger the number
of participants, and the greater their information
gathering—the longer the time to a decision.
‣ It is the marketer’s greatest opportunity and
challenge.
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23. 23
TYPES of Buying Situations
https://www.linkedin.com/in/docays/
*DMU:decision-making unit
24. 24
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
25. 25
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
26. 26
- the decision-making unit (DMU
)
of a buying organization.
- it consists of “all those individuals and groups who participate in the
purchasing decision-making process, who share some common goals and the
risks arising from the decisions.”
Buying Center
-
Frederick E. Webster Jr. and Yoram Wind
https://www.linkedin.com/in/docays/
27. 27
1. Initiators
2. Users
3. Influencers
4. Deciders
5. Approvers
6. Buyers
7. Gatekeepers
7 Roles
IN THE PURCHASE DECISION PROCESS
The buying center includes
ALL members of the
organization who play any of
the following seven roles in
the purchase decision
process.
https://www.linkedin.com/in/docays/
28. 28
1. Initiators—users or others in the organization who request that something be purchased.
2. Users—those who will use the product or service.
* In many cases, the users initiate the buying proposal and help define the product requirements.
3. Influencers— people who influence the buying decision, often by helping define specifications
and providing information for evaluating alternatives.
-
Technical personnel are particularly important influencers.
4. Deciders
—
People who decide on product requirements or on suppliers.
7 Roles
IN THE PURCHASE DECISION PROCESS
https://www.linkedin.com/in/docays/
29. 29
1. Initiators—users or others in the organization who request that something be purchased.
2. Users—those who will use the product or service.
* In many cases, the users initiate the buying proposal and help define the product requirements.
3. Influencers— people who influence the buying decision, often by helping define specifications
and providing information for evaluating alternatives.
-
Technical personnel are particularly important influencers.
4. Deciders
—
People who decide on product requirements or on suppliers.
7 Roles
IN THE PURCHASE DECISION PROCESS
https://www.linkedin.com/in/docays/
Request to purchase a Facial Nerve Monito
r
Cost: Php 3M + consumables 10,000 per use
ENT Department
30. 30
1. Initiators—users or others in the organization who request that something be purchased.
2. Users—those who will use the product or service.
* In many cases, the users initiate the buying proposal and help define the product requirements.
3. Influencers— people who influence the buying decision, often by helping define specifications
and providing information for evaluating alternatives.
-
Technical personnel are particularly important influencers.
4. Deciders
—
People who decide on product requirements or on suppliers.
7 Roles
IN THE PURCHASE DECISION PROCESS
https://www.linkedin.com/in/docays/
Request to purchase a Facial Nerve Monito
r
Cost: Php 3M + consumables 10,000 per use
ENT Department
Surgery Department
TCVS Department
31. 31
1. Initiators—users or others in the organization who request that something be purchased.
2. Users—those who will use the product or service.
* In many cases, the users initiate the buying proposal and help define the product requirements.
3. Influencers— people who influence the buying decision, often by helping define specifications
and providing information for evaluating alternatives.
-
Technical personnel are particularly important influencers.
4. Deciders
—
People who decide on product requirements or on suppliers.
7 Roles
IN THE PURCHASE DECISION PROCESS
https://www.linkedin.com/in/docays/
Request to purchase a Facial Nerve Monito
r
Cost: Php 3M + consumables 10,000 per use
Biomedical Department
Facilities and Maintenance Dept
IT Department
32. 32
1. Initiators—users or others in the organization who request that something be purchased.
2. Users—those who will use the product or service.
* In many cases, the users initiate the buying proposal and help define the product requirements.
3. Influencers— people who influence the buying decision, often by helping define specifications
and providing information for evaluating alternatives.
-
Technical personnel are particularly important influencers.
4. Deciders
—
People who decide on product requirements or on suppliers.
7 Roles
IN THE PURCHASE DECISION PROCESS
https://www.linkedin.com/in/docays/
Request to purchase a Facial Nerve Monito
r
Cost: Php 3M + consumables 10,000 per use
Biomedical Department
Facilities and Maintenance Dept
IT Department
ENT Department
Surgery Department
TCVS Department
OR Complex Chair
Finance Department
Hospital Director
Medical Director
33. 33
7 Roles
IN THE PURCHASE DECISION PROCESS
5. Approvers — people who authorize the proposed actions of deciders or buyers.
6. Buyers—people who have formal authority to select the supplier and arrange the purchase terms.
* In more complex purchases, buyers might include high-level managers.
7. Gatekeepers — people who have the power to prevent sellers or information from reaching members
members of the buying center.
*For example, purchasing agents, receptionists, and telephone operators may prevent salespersons
from contacting users or deciders.
https://www.linkedin.com/in/docays/
Request to purchase a Facial Nerve Monito
r
Cost: Php 3M + consumables 10,000 per use
OR Complex Chair
Finance Department
Hospital Director
Medical Director
34. 34
7 Roles
IN THE PURCHASE DECISION PROCESS
5. Approvers — people who authorize the proposed actions of deciders or buyers.
6. Buyers—people who have formal authority to select the supplier and arrange the purchase terms.
* In more complex purchases, buyers might include high-level managers.
7. Gatekeepers — people who have the power to prevent sellers or information from reaching members
members of the buying center.
*For example, purchasing agents, receptionists, and telephone operators may prevent salespersons
from contacting users or deciders.
https://www.linkedin.com/in/docays/
Request to purchase a Facial Nerve Monito
r
Cost: Php 3M + consumables 10,000 per use
OR Complex Chair
Finance Department
Biomedical Department
Facilities and Maintenance Dept
IT Department
ENT Department
Surgery Department
TCVS Department
35. 35
7 Roles
IN THE PURCHASE DECISION PROCESS
5. Approvers — people who authorize the proposed actions of deciders or buyers.
6. Buyers—people who have formal authority to select the supplier and arrange the purchase terms.
* In more complex purchases, buyers might include high-level managers.
7. Gatekeepers — people who have the power to prevent sellers or information from reaching members
members of the buying center.
*For example, purchasing agents, receptionists, and telephone operators may prevent salespersons
from contacting users or deciders.
https://www.linkedin.com/in/docays/
36. 36
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
37. 37
Outline:
a. Business market VS Consumer market
b. Organizational buying and its Buying situations
c. Seven (7) key persons in a business buying process
https://www.linkedin.com/in/docays/
Lecture at a glance:
CH-7: ANALYZING BUSINESS MARKETS
38. Aileen Delos Santos-Garcia, MD
ATENEO GRADUATE SCHOOL OF BUSINES
S
MASTERS IN BUSINESS ADMINISTRATION - HEALT
H
V88 Marketing Management
That is the question
B2B
or
not B2B? ANALYZING
BUSINES
S
MARKETS
Chap 7: Kotler, 15ed