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Objectives
Be able to distinguish among the various types
of business markets.
Identify the major characteristics of business customers
and transactions.
Understand several attributes of the demand for business products.
Become familiar with the major components of a buying center.
Understand the stages of the business buying decision process and the factors that affect the process.
Describe industrial classification systems and explain how they can be used to identify and analyze business markets.
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Business Markets (B2B)
Occurs when an individual or group
purchases a specific kind of product for resale, direct
use in producing other products, or use in general operations. There are four categories of business markets:
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Producer Markets
Individuals or business organizations that purchase products
to make profits by using them to produce other
products or using them in their operations
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Producer Markets
Focused on Producer Market
Some business marketers focus
on producer markets. BASF aims the products discussed in
this ad at manufacturers of pharmaceutical products.
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Reseller Markets
Resellers
Intermediaries who buy finished goods and resell
them for a profit
Factors Resellers Consider:
Level of demand
Space required
relative to potential profit
Ease of placing orders
Availability of technical assistance
Training programs from producers
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Government Markets
Federal, state, county or local governments that
buy goods and services to support their internal operations
and provide products to their constituencies
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Institutional Markets
Organizations with charitable, educational, community or other
nonbusiness goals
Institutional Markets
Some colleges are a part of institutional
markets.
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Discussion Question
Visit the Graybar Company Web Site by
clicking on the @ symbol below. After reviewing the
Site, discuss whether Graybar is best described as a company serving primarily:
Producer Markets
Reseller Markets
Government Markets
Institutional Markets
@
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Aflac B2B Commercial
Almost everyone is familiar
with the Aflac Duck commercials for consumers. Click on
the TV screen below to see an Aflac Business-to-Business commercial.
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Figure 7.1 Dimensions of Marketing to Business Customers
Source: “National Quarterly Scored,” American Customer Satisfaction Index, http://www.theacsi.org/indes.php7option=com_contents&task=view&id=31&itemid=35
(acceessed April 22, 2009)
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Characteristics of Transactions with Business Customers
Large Orders
Expensive Items
Frequent
replenishments
Long-term contractual agreements
Considerable marketing efforts
Purchasing committees
Reciprocity
- an arrangement
unique to business marketing in which two organizations agree to buy from each other
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Attributes of Business Customers
Well informed about the products
they purchase
Demand detailed information and technical specifications
Help the firm
achieve organizational objectives
Engage in rational buying behavior
Often form partnerships with suppliers
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Primary Concerns of Business Customers
Price
Quality
Service
Supplier
Relationships
Concerns of Business
Customers
In this advertisement, CDW promises excellent and timely service,
one of the primary concerns of business customers.
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Methods of Business Buying
Description
Inspection
Sampling
Negotiation
Methods of Business Buying
Purchases of
heavy equipment are likely to occur through negotiated contracts.
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Types of Business Purchases
Purchased item to be used
to perform a new job or solve a new
problem
Routine purchases of same products under approximately same terms
New-task purchase that
is changed on subsequent orders or when straight-rebuy requirements are modified
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Types of Demand for Business Products
Derived Demand
- demand
for industrial products that stems from demand for consumer
products
Inelastic Demand
- demand that is not significantly altered by a price increase or decrease
- Industrial Product Price Index
Joint Demand
- demand involving two or more items in combination to produce a product
Fluctuating Demand
-the demand for any given business product can change in response to consumer demand changes
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Derived Demand
Derived Demand
The demand for Intel Quad-Core processors
derives from the sales to end users of computers
containing these processors. In this message, Intel advertises directly to computing equipment users, not to manufacturers of the equipment.
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Discussion Question
This ad is aimed at computer end-users.
Do you think that Intel should also advertise to
computer manufacturers?
If you answered “Yes,” what should they communicate to manufacturers?
If you answered “No,” explain your answer.
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Business Buying Decisions
Business (organizational) buying behavior
- the purchase
behavior of producers, government units, institutions, and resellers
Buying Center
-
the people within an organization, including users, influencers, buyers, deciders, and gatekeepers, who make business purchase decisions
- Purchasing Agents
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Figure 7.2 Business (Organizational) Buying Decision Process and
Factors that May Influence It
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Problem Recognition
Problem Recognition
This ad aimed at health care
providers focuses on problem recognition. Some health care providers
may want to update equipment to improve diagnostic capabilities.
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Evaluate Products and Suppliers
Value analysis
- an evaluation of
each component of a potential purchase
Vendor analysis
- a formal,
systematic evaluation of current and potential vendors
Multiple sourcing
- an organization’s decision to use several suppliers
Sole sourcing
- an organization’s decision to use only one supplier
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Influences on the Business Buying Decision Process
Numerous business
purchases are influenced by environmental forces.
Influences on the Business
Buying Decision Process
Environmental
Organizational
Interpersonal
Individual
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North American Industry Classification System (NAICS)
Identification of potential
business customers
A vehicle for segmentation, but best used with
other types of data to determine the potential market
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After Reviewing This Chapter
You Should:
Be able to
distinguish among the various types of business markets.
Know the
major characteristics of business customers and transactions.
Understand several attributes of the demand for business products.
Be familiar with the major components of a buying center.
Understand the stages of the business buying decision process and the factors that affect the process.
Be able to describe industrial classification systems and explain how they can be used to identify and analyze business markets.
