1. Business Marketing
    • They do not buy for their own consumption
    • - Businesses, Resellers, and Governments
    • - Fewer customers; Large customers
    • - Geographically concentrated
    • - Demand
    • --- Derived - the demand for business products.
    • --- Inelastic - means that an increase or decrease in the price of the product will not significantly affect demand for the product.
    • --- Fluctuating - the demand for business products - particularly new plants and equipment - tends to be less stable than the demand for consumer products.
  2. North American Industrial Classification System (NIACS)
    Replaces the Standar Industrial Classification (SIC)

    - NAICS is an extremely valuable tool for business marketers engaged in analyzing, segmenting, and targeting markets.
  3. Purchasing in Business Markets
    • Systematic purchase process
    • New Buy: a situation requiring the purchase of a product for the first time.
    • - Initiators and Users
    • - Influencers
    • - Gatekeepers
    • - Purchasers
    • - Decision makers

    Modified Rebuy: a situation where the purchaser wants some change in the original good or service.

    Straight Rebuy: a situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers.

    - Use quality, price, and service as criteria.
Card Set
MKGT351 - Chapter 7