This document summarizes key points about business buying behavior from Chapter 3 of the textbook "Fundamentals of Marketing". It discusses that business buying behavior refers to how organizations purchase goods and services for use in production. The business buying process determines needed products/services and finds, evaluates, and chooses among alternatives. It also outlines the participants in the buying center, including users, influencers, buyers, deciders, and gatekeepers. Finally, it identifies the major types of buying situations as straight rebuy, modified rebuy, and new task purchases.
Mkt 421 final exam guide (new, 2017) newnoahjamessss
MKT 421 Final Exam Guide (New, 2017) NEW
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__________ is best defined as the process of continuously obtaining information on events happening outside a company to recognize and interpret possible trends that affect marketing.
Relationship marketing
Digital marketing
Customer relationship management
Environmental scanning
There’s never been a more exciting time to be in the energy sector. New technologies mean plenty of opportunities for dynamic new businesses. But, if you’re going to stand out from the crowd, you’ll need something more than unbridled ambition and tech-savvy teams. You need a strong brand that helps your business to get noticed by the right people. At Sims Creative we know all about branding for energy businesses.
Measuring outcomes of brand equity
Content Extracted from “Strategic Brand Management” 3rd Edition
Authors: Kevin Lane Keller
M.G. Parameswaran
Issac Jacob
Presentation developed from SLIM Diploma In Brand Management Students
Presentation developed by Leroy J. Ebert (25th April 2014)
Article The Strategy Accelerator - Which businessmodels and strategies are va...Alfred Griffioen
How to improve your businessmodel and find an attractive position in the value chain or value network. How valid are the strategies of Porter, Treacy & Wiersema and the BCG portfolio matrix in this internet age and globalised world? The strategy accelerator gives a concise alternative, combining the Resource Based View and strategic marketing.
Mkt 421 final exam guide (new, 2017) newnoahjamessss
MKT 421 Final Exam Guide (New, 2017) NEW
Check this A+ tutorial guideline at
http://mkt421entirecourse.com/mkt-421-new/mkt-421-final-exam-guide-latest
For more classes visit
http://mkt421entirecourse.com
__________ is best defined as the process of continuously obtaining information on events happening outside a company to recognize and interpret possible trends that affect marketing.
Relationship marketing
Digital marketing
Customer relationship management
Environmental scanning
There’s never been a more exciting time to be in the energy sector. New technologies mean plenty of opportunities for dynamic new businesses. But, if you’re going to stand out from the crowd, you’ll need something more than unbridled ambition and tech-savvy teams. You need a strong brand that helps your business to get noticed by the right people. At Sims Creative we know all about branding for energy businesses.
Measuring outcomes of brand equity
Content Extracted from “Strategic Brand Management” 3rd Edition
Authors: Kevin Lane Keller
M.G. Parameswaran
Issac Jacob
Presentation developed from SLIM Diploma In Brand Management Students
Presentation developed by Leroy J. Ebert (25th April 2014)
Article The Strategy Accelerator - Which businessmodels and strategies are va...Alfred Griffioen
How to improve your businessmodel and find an attractive position in the value chain or value network. How valid are the strategies of Porter, Treacy & Wiersema and the BCG portfolio matrix in this internet age and globalised world? The strategy accelerator gives a concise alternative, combining the Resource Based View and strategic marketing.
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‘macro’ and ‘micro’ bases of market segmentation AND ‘nested’ approach and how is it different from Wind and Cardazo’s model of a ‘two level’ segmented approach
4. Business Markets
Business buyer behavior refers to the buying
behavior of the organizations that buy goods
and services for use in production of other
products and services that are sold, rented, or
supplied to others.
Business buying process is the process where
business buyers determine which products and
services are needed to purchase, and then
find, evaluate, and choose among alternative
brands
DHD 2010 MKT243 Fundamental of 4
Marketing
5. Business Customer
• Producers
• Resellers
• Governments
-Federal Government
-State, country and city government
• Institutions
DHD 2010 MKT243 Fundamental of 5
Marketing
6. Types of Business Products
• Major equipment/ Installations
Include capital goods as large or expensive machines,
mainframe computers, building, airplanes etc.
Can be depreciate over time
• Accessory equipment
Goods such as portable tools and office equipment that are
less expensive and shorter-lived than major equipment
• Raw material
Unprocessed extractive for agricultural products, such as
mineral ore, timber, wheat, corn, fruits etc.
• Component parts
Either finish items ready for assembly or products that
need very little processing before becoming product
DHD 2010 MKT243 Fundamental of 6
Marketing
7. Types of Business Products
• Processed Materials
Products used directly in manufacturing other product
• Supplies
Consumable items that do not become part of the final
product. E.g: paper, detergents, pencils etc.
• Business Service
Expense items that do not become part of a final product.
Eg: Advertising, legal, management consulting,
maintenance
Hiring outside provider for particular expertise.
DHD 2010 MKT243 Fundamental of 7
Marketing
8. Business Buyer Behavior
Participants in the Business
Buying Process
Buying center is all of the individuals
and units that participate in the
business decision-making process
– Users
– Influencers
– Buyers
– Deciders
– Gatekeepers
DHD 2010 MKT243 Fundamental of 8
Marketing
9. Business Buyer Behavior
Participants in the Business Buying
Process
Users are those that will use the product or
service
Influencers help define specifications and
provide information for evaluating alternatives
Buyers have formal authority to select the
supplier and arrange terms of purchase
Deciders have formal or informal power to
select and approve final suppliers
Gatekeepers control the flow of information
DHD 2010 MKT243 Fundamental of 9
Marketing
10. Business Buyer Behavior
Major Types of Buying Situations
Straight rebuy is a routine purchase decision
such as reorder without any modification
Modified rebuy is a purchase decision that
requires some research where the buyer wants
to modify the product specification, price,
terms, or suppliers
New task is a purchase decision that requires
thorough research such as a new product.
Purchase product for the first time.
DHD 2010 MKT243 Fundamental of 10
Marketing