1. The document outlines the business buying process which includes identifying needs, describing requirements, searching for information, deciding on a purchase, and evaluating the process. 2. It also discusses market segmentation, targeting, and positioning (STP). Market segmentation involves breaking the market into groups with similar needs. Target markets are selected segments to provide products to. 3. The document contrasts mass marketing, differentiated marketing, niche marketing, and individual marketing. Mass marketing serves the majority, while differentiated marketing develops specific plans for each segment. Niche marketing focuses on a smaller segment.

1. BUSINESS BUYING
PROCESS
1. Identifying Business
Buying Needs
 Straight Buy – purchasing
direct need of specific
products to supply their
operations or as part of the

2.  Modified Rebuy – the
products and services are
tailored-fitted to the needs
of the organization.
 First-time buy – entails the
most work in gathering
options.
2. Business Buying
Influences

3. 2. Describing the
requirement
3. Searching for Information
4. Deciding on the Purchase
5. Evaluating the Process

4. Market
Segmentation,
Targeting and
Positioning (STP)

5. MARKET
SEGMENTATION –
breaking up the market
into smaller groups
compsed of individuals
with similar
requirements or

6. Factors that is basis
for Market
Segmentation
1. Location
2. Demographics
3. Lifestyle or

7. 4. Behavior
 Ocassion
 Usage

8. TARGET MARKET –
when marketers
select one or more
groups of
customers o
provide products

9. Factors to consider in
selecting a target
market:
1. Size – substantial
or growing in
quantity or in
spending power.

10. 2. Identifiable –
recognized based on
characteristics or
commonalities
3. Viability – of attracting,
engaging and serving
the segment.
4. Consistency

11. MASS MARKETING – the
marketer decides not to
choose a specific segment,
and instead develops and
offers the product for a
sizable number of
customers, serving the
needs of the majority.

12. DIFFERENTIATED
MARKETING – when the
market is segmented,
marketers can then select
different target markets
and develop a marketing
plan specific to the needs
of each of these segments.

13. NICHE MARKETING
–marketer opt to
focus on a smaller
market segment.

14. INDIVIDUAL
MARKETING
Factors to be
considered:
1)Resources
2)Product
3)Competition

15. MARKET POSITIONING -
the proliferation of several
brands on the shelves of
supermarket, both local
and imported and the many
different stores in the malls
bombard customers with
various options.