1. The chapter provides an overview of business marketing and its differences from consumer marketing. Business marketing involves selling goods and services to other businesses, governments, and institutions rather than individual consumers.
2. Demand in business markets is derived from ultimate consumer demand and tends to fluctuate more. Business relationships are also typically closer and involve teams rather than individual decision makers.
3. The chapter outlines the major categories of business customers including producers, resellers, governments, and institutions. It also discusses the supply chain and importance of relationship marketing in business contexts.
Unit-I
Marketing:
Definition, general concepts and scope of marketing, distinction between marketing & selling.
Marketing environment. Industry and competitive analysis. Analyzing consumer buying
behaviour and industrial buying behaviour.
Unit-I
Marketing:
Definition, general concepts and scope of marketing, distinction between marketing & selling.
Marketing environment. Industry and competitive analysis. Analyzing consumer buying
behaviour and industrial buying behaviour.
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
the article I have written is all about the International Marketing. In this article Innovations are made in International Marketing are described. This article is also published by National Conference Magazine named as Innovative Practices in Business Management and Information Technology in New Millennium which ISBN no is 978-93-83587-12-4.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
the article I have written is all about the International Marketing. In this article Innovations are made in International Marketing are described. This article is also published by National Conference Magazine named as Innovative Practices in Business Management and Information Technology in New Millennium which ISBN no is 978-93-83587-12-4.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. Chapter Topics
• By the end of this chapter you will understand:
1. The dynamic nature of the business marketing environment
and the basic similarities and differences between consumer-
goods and business marketing
2. The underlying factors that influence the demand for products
and services bought by business and organizational customers
3. The nature of buyer-seller relationships in a product’s supply
chain
4. The types of customers in B2B markets
5. The basic characteristics of industrial products and services
3. Business Marketing
• “Business Marketing” or “Industrial
Marketing” are used interchangeably
• 50% of all business school graduates join
firms that directly compete in the business
market
• Because of interest in high-tech markets
and the size of industrial markets, increased
attention is being paid to business
marketing management
4. Business Markets
• Are markets for products and services from
local to international
Bought by:
• Businesses
• Government bodies
• Institutions
For:
• Incorporation
• Consumption
• Use
• Resale
5. What Are Business Products?
• Used to manufacture
other products
• Become part of another product
• Aid in the normal operations of
an organization
• Are acquired for resale
without change in form
• A product purchased for personal use
is considered a consumer good
Key is the
product’s
intended
use
6. Business to Business (B2B)
Marketing is Huge
1. Business marketers serve the largest
markets of all.
2. Dollar volume of the business market
greatly exceeds the consumer market.
3. A single customer can account for enormous
levels of purchasing activity. (For example,
GM’s 1,350 business buyers each purchase
more than $50 million annually.)
7. The Consumer Market (B2C) and the Business Market (B2B) at
B2B
Customers:
B2C
Individuals &
Households
Businesses
Global
Large corporations
Small & Medium
sized businesses
Institutions
Healthcare
Education
Government
Federal
State
Local
Selected
Products:
PCs
Printers
Consumer
Electronics
Simple Service
Agreements
PCs
Enterprise Storage
Servers
Complex Service Offerings
Dell, Inc.
B2C and B2B
8. Categories of Business Market Customers
Producers
Resellers
Governments
Institutions
OEMs
Wholesalers
Retailers
Federal State
Municipal County
Unions Civic clubs Churches
Foundations Nonprofits Other
Commercial
9. Business Marketers vs.
Consumer-Goods Marketers
Similarly:
– Both marketers benefit by employing a market
orientation, i.e.:
– They need to understand and satisfy customer
needs
– They are both market driven
10. 1. A set of values and beliefs that places customers’
interests first
2. An ability to generate, disseminate, and
productively use superior information about
customers and competitors
3. The coordinated use of interfunctional resources
(e.g., research and development, manufacturing)
Market-Driven Firms
Demonstrate…
11. Market-Driven Firms
Market sensing capability: A company’s
ability to sense change and to anticipate
customer responses
Customer linking: The ability to develop
and manage close customer relationships
Have distinctive capabilities:
12. Market-Driven Companies
View their customer as an asset, thus:
1.Marketing expenditures, once considered
expenses, are now considered investments.
2.Therefore, marketers need to measure
performance such as ROI on their
investments.
13. Meeting Performance Standards
Means To:
Develop and nurture customer relationship
management (CRM) capabilities by:
a. Identifying,
b. Initiating,
c. Developing,
d. and Maintaining profitable customer relationships.
14. Professional Marketing Managers
Employ Customer Relations Management (CRM) tools for:
Identifying and categorizing customer segments
Determining customer’s present and potential needs
Visiting customers to learn about applications of
products
Developing and executing individual components of
marketing to include:
Sales, advertising, promotions, service programs,
etc.
15. Professional Marketers:
• Focus on Profitability
– Understand forces that affect profitability
– Align resource allocation to revenues and profits
that will be secured by future business
• Partner with Customers
– Marketers don’t just sell to customers; they
develop a form of partnership for the purpose of
serving and adding value for their consumer
– This strategy can result in becoming a preferred
vendor
16. Market-Driven Companies
• Deliver Value Propositions
• Create programs that include products,
services, ideas and solutions to problems
that offer value and provide opportunities
for their customers.
17. Marketing’s Cross-Functional
Relationships
• Professional business marketers act as an
integrator between various functional areas
within the company
• Functional areas include:
– Manufacturing
– Research & Development (R&D)
– Customer Service
– Accounting
– Logistics
– Procurement
18. Marketing’s Cross Functional Relationship
Business marketing planning must
be coordinated and synchronized
with corresponding planning efforts.
Developed by Cool Pictures and MultiMedia Presentations
19. Business Market Characteristics
• Business marketing and consumer-goods marketing are
different
• Even though both markets share:
Common body of knowledge, principles and theory
• They vary in that:
Business buyers and markets function very
differently from consumer markets
20. Business and Consumer Marketing
Differs In:
1. Nature of their markets
2. Market demand
3. Buyer behavior
4. Buyer-seller relationship
5. Environmental influences (competition,
political, legal) and
6. Market strategy
• Due to these differences, business marketers
need to understand how demand for
industrial products and services differs from
consumer demand.
22. Derived Demand
• The demand for business products is called
derived demand because the demand for
industrial products is derived from the
ultimate demand for consumer products.
• As a result, business marketers must carefully
monitor fluctuating trends and patterns in
consumer markets.
23. Fluctuating Demand
Because demand is derived, an increase or decrease in
consumer demand can create a fluctuating demand for
many industrial products.
Example:
• An increase in mortgage rates can quickly stifle
new home sales. This slows down the need for
new household products. Businesses react by
decreasing their inventory of materials or putting
off buying new machinery.
• This action explains why the demand for many
industrial products tends to fluctuate more than
the demand for consumer products.
• A decrease in interest rates has the opposite
influence.
24. Stimulating Demand
• Sometimes, business marketers need to stimulate
demand for consumer goods which either
incorporate their products or are used to make
consumer products.
• Pharmaceutical manufacturers advertise on television by
presenting various ailments followed by offering their
products as solution to the ultimate consumer. (“Ask your
doctor if XYZ is right for you!”)
• Sometimes manufacturers offer deep price discounts that
influence members of the supply chain to lower their prices,
in the hope of influencing the ultimate consumer to buy their
product.
25. Inelastic Demand
• Inelastic demand is demand without regard
to price. An increase or decrease in the
product price will not significantly affect the
demand for the product.
• Example: Price for gasoline
27. Global Market Perspective
Marketers must have a global perspective:
• They need to look beyond U.S. borders
• The demand for industrial products in countries
such as Germany, Japan, and Korea is growing
more rapidly than in the U.S.
• Enormous growth in developing countries such
as Brazil, China, Russia, and India offer huge
opportunities for both large and small
businesses
28. Consumer Product or Business
Product?
• Mentioned earlier, the intended use
determines whether or not a product is a
consumer product or a business product
– If Mr. Clean is used by the ultimate consumer to clean
his/her house, it is a consumer product.
– If Mr. Clean is being used to clean a hospital or a university,
it is a business product.
29. Some Consumer Products Become
Industrial Products
• J.M. Smucker Company sells their jellies and
jams to ultimate consumers as household food
products but also markets them as fillings and
yogurt additives for other company’s products.
• Many companies successfully sell to both
consumer and business markets.
30. Relationship Marketing
• All marketing activities directed toward
establishing, developing, and maintaining
successful exchanges with customers
31. Relationship Marketing – con’t
• Building one-to-one relationships with
customers is the heart of business marketing
• Figure 1.4 provides a recap of key
characteristics of business market customers
32. Figure 1.4 Characteristics of Business Market Customers
Characteristic Example
•Business market customers are comprised
of commercial enterprises, institutions, and
governments.
•A single purchase by a business customer is
far larger than that of an individual consumer.
•The demand for industrial products is derived
from the ultimate demand for consumer products.
•Relationships between business marketers
tend to be close and enduring.
•Buying decisions by business customers often
involve multiple buying influences rather than a
single decision maker.
•While serving different types of customers,
business marketers and consumer-goods
marketers share the same job titles.
•Among Dell’s customers are Boeing,
Arizona State University, and numerous
state and local government units.
•An individual may buy one unit of a software
package upgrade from Microsoft while
Citigroup purchases 10,000.
•New home purchases stimulate the demand for
carpeting, appliances, cabinets, lumber, and a
wealth of other products.
•IBM’s relationship with some key customers
spans decades.
•A cross-functional team at Procter & Gamble
(P&G) evaluates alternative laptop PCs and
selects Hewlett-Packard.
•Job titles include marketing manager, product
manager, sales manager, account manager.
33. The Supply Chain
• Business Marketing is an important influence
in the supply chain.
• When reviewing Figure 1-5, notice the
importance of the business marketer’s
influence in each step of the supply chain.
34. Michael Porter and Victor Millar observed that “to gain competitive
advantage over its rivals, a company must either perform these activities
at a lower cost or perform them in a way that leads to differentiation and
a premium (more value).”
The Supply Chain Figure 1.5
35. Supply Chain Management
• This is a technique of linking a manufacturer’s
operation with suppliers, key intermediaries and
customers to enhance efficiencies and
effectiveness.
• The Internet is playing an extensive role by
allowing joint planning and execution in real time.
36. Managing Relationships in the
Supply Chain
• As important as it is to gain customers, it is just
as important for manufacturers to develop
strong relationships with suppliers.
• Companies such as IBM and Toyota develop
strategies to create suppliers who provide new
ideas and who are loyal.
37. Categories of Business Market Customers
Producers
Resellers
Governments
Institutions
OEMs
Wholesalers
Retailers
Federal State
Municipal County
Unions Civic clubs Churches
Foundations Nonprofits Other
Commercial
39. Users
• Users purchase industrial products or services
to produce other goods or services that are, in
turn, sold in the business or consumer markets.
• Example: Toyota buys machines to produce cars
that are sold to consumers and businesses.
Toyota is a user.
41. OEMs
Original Equipment Manufacturers
Individuals and organizations that buy
business goods and incorporate them into the
products that they produce for eventual sale
to other producers or to consumers.
42. Governments
• Municipal, State and Federal Government
• Generally use the bidding approach to
purchase goods and services
• Purchase up to 1/3 Gross Domestic Product
(GDP)
43. Institutions
• This is the nonprofit segment of the market that
does not seek to achieve normal business goals
such as ROI, %share of market or profit
• Market includes universities, hospitals, schools,
churches, civic clubs, foundations, etc.
44. Classify industrial goods by
asking the following:
How does the good or
service enter the
production process?
How does it enter the cost
structure of the firm?
Classifying Goods for the Business Market
Source: Adapted from Philip
Kotler, Marketing Management:
Analysis, Planning, and Control,
4th ed. (Englewood Cliffs, N.J.:
Prentice-Hall, 1980), p. 172,
with permission of Prentice-
Hall, Inc.
45. A Framework for Business Marketing Management
Business marketing strategy
is formulated within the
boundaries established
by the corporate
mission and
objectives.
46. Overview of Text
1. Part 1 considers differences between consumer and
commercial markets and discusses the various types
of commercial enterprises.
2. Part 2 examines the organization buying process and
the forces that affect decision makers.
3. Part 3 investigates selecting target segments and
measuring their responses.
4. Part 4 focuses on designing market driven strategies.
47. Chapter 1:
A Business Marketing Perspective
Business Marketing Management – B2B 10e
Michael D. Hutt
Arizona State University
Thomas W. Speh
Miami University
PowerPoint presentation by
Ray A. DeCormier, Ph.D.
Central Connecticut State University