Business Marketing

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Business Marketing

What Is Business Marketing?:

2 Describe business marketing What Is Business Marketing? LO I

What Is Business Marketing?:

3 The marketing of goods and services to individuals and organizations for purposes other than personal consumption. LO I What Is Business Marketing? Business Marketing

Business Products:

4 LO I Are used to manufacture other products Become part of another product Aid the normal operations of an organization Are acquired for resale without change in form Business Products The key is intended use.

REVIEW LEARNING OUTCOME Business Marketing:

5 REVIEW LEARNING OUTCOME Business Marketing LO I cupboards oven folder and pen Teddy bear CONSUMER BUSINESS cupboards Coffee pot oven folder and pen photocopier

Business Marketing on the Internet:

6 Describe the role of the Internet in business marketing Business Marketing on the Internet LO 2

Measuring Online Success:

7 LO 2 Stickiness A measure of a Web site’s effectiveness; calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewed during each visit. Measuring Online Success Stickiness = Frequency x Duration x Site Reach

Evolution of E-Business Initiatives :

8 LO 2 Evolution of E-Business Initiatives Revenue generation Aggressive disintermediation initiatives Basic marketing communication strategies Reduce costs Build channel partnerships and trust Customer-focused technology and systems Brand building and development Integrate online and traditional media Past initiatives Present initiatives Time

REVIEW LEARNING OUTCOME The Internet in Business Marketing:

9 REVIEW LEARNING OUTCOME The Internet in Business Marketing LO 2 THEN NOW Reduce costs Build partnerships and alliances Build and support branding Develop customer-focused technology and systems Integrate online and traditional media Revenue Generation Basic Marketing Communication Business Internet Uses and

Relationship Marketing and Strategic Alliances:

10 Discuss the role of relationship marketing and strategic alliances in business marketing Relationship Marketing and Strategic Alliances LO 3

Strategic Alliances:

11 LO 3 Strategic Alliance Strategic Alliances A cooperative agreement between business firms (strategic partnership).

Relationships in Other Cultures:

12 LO 3 Keiretsu Relationships in Other Cultures A network of interlocking corporate affiliates.

REVIEW LEARNING OUTCOME Relationship Marketing and Strategic Alliances:

13 REVIEW LEARNING OUTCOME Relationship Marketing and Strategic Alliances LO 3 Supplier (like Intel) Supplier Supplier Company (like Dell) Company 1 (like Starbucks) Company 2 (like Jim Beam) Company (like UPS) Customer/ Distributor (like Ford)

Major Categories of Business Customers:

14 Identify the four major categories of business market customers Major Categories of Business Customers LO 4

Major Categories of Business Customers:

15 LO 4 Major Categories of Business Customers Producers Resellers Governments Institutions OEMs Wholesalers Retailers Federal Municipal Local Schools Hospitals Colleges Churches Unions Fraternal groups Civic Clubs Foundations Nonbusiness organizations

Producers:

16 LO 4 Original Equipment Manufacturers Producers OEMs. 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 .

REVIEW LEARNING OUTCOME Business Market Customers:

17 REVIEW LEARNING OUTCOME Business Market Customers LO 4 Business Marketing Institutions Resellers Wholesalers Retailers Producers OEMs Governments Federal State Municipal County Unions Civic Clubs Other Churches Foundations Nonprofits

North American Industry Classification System:

18 Explain the North American Industry Classification System North American Industry Classification System LO 5

NAICS:

19 NAICS LO 5 NAICS A detailed numbering system developed by the U.S., Canada, and Mexico to classify North American business establishments by their main production processes. North American Industry Classification System

Example of NAICS Hierarchy:

20 LO 5 NAICS Level Sector Subsector Industry Group U.S. Industry NAICS Code 31-33 334 3346 334611 Description Manufacturing Computer electronic product manufacturing Mfg. and reproduction of magnetic/ optical media Reproduction of software Example of NAICS Hierarchy

NAICS:

21 LO 5 Provides a common industry classification system Valuable tool for marketers in analyzing, segmenting, and targeting markets Data can be used to determine: Number, size, and geographic dispersion of firms Market potential / market share estimates Sales forecasts New customer identification NAICS

Business versus Consumer Markets:

22 Explain the major differences between business and consumer markets Business versus Consumer Markets LO 6

Business versus Consumer Markets:

23 Characteristic Demand Volume # of Customers Location Distribution Nature of Buy Buy Influence Negotiations Reciprocity Leasing Promotion Business Market Organizational Larger Fewer Concentrated More Direct More Professional Multiple More Complex Yes Greater Personal Selling Consumer Market Individual Smaller Many Dispersed More Indirect More Personal Single Simpler No Lesser Advertising LO 6 Business versus Consumer Markets

Demand in Business Markets:

24 LO 6 Demand is... Description Derived Demand for business products results from demand for consumer products. Inelastic A change in price will not significantly affect the demand for product. Joint Multiple items are used together in final product. Demand for one item affects all. Fluctuating Demand for business products is more volatile than for consumer products. Demand in Business Markets

Fluctuating Demand:

25 Multiplier Effect (Accelerator Principle) LO 6 Fluctuating Demand Phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Types of Business Products:

26 Describe the seven types of business goods and services Types of Business Products LO 7

Types of Business Products:

27 LO 7 Major Equipment Accessory Equipment Raw Materials Component Parts Processed Materials Supplies Business Services Types of Business Products Online http://www.sysco.com

REVIEW LEARNING OUTCOME Types of Business Goods and Services:

28 REVIEW LEARNING OUTCOME Types of Business Goods and Services LO 7 Aluminum ore: raw material Extruded metal: processed material Propeller blade: component part Extruding machine: major equipment Tool cart: accessory equipment Uniforms: contracted service Paper: supply

Business Buying Behavior:

29 Discuss the unique aspects of business buying behavior Business Buying Behavior LO 8

Business Buying Behavior:

30 LO 8 Customer Service Business Ethics Buying Situations Evaluative Criteria Buying Centers Aspects of Business Buying Behavior Business Buying Behavior

Buying Centers:

31 Buying Center LO 8 Buying Centers All those persons in an organization who become involved in the purchase decision.

Roles in the Buying Center:

32 LO 8 Initiator Influencers Gatekeepers Decider Purchaser Users Roles in the Buying Center Online http://www.loctite.com

Evaluative Criteria:

33 LO 8 Evaluative Criteria Quality Service Price

Buying Situations:

34 LO 8 New Buy A situation requiring the purchase of a product for the first time. 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. Buying Situations

Customer Service:

35 Customer Service LO 8 Divide customers into groups based on their value Create policies that govern how service will be allocated among groups

REVIEW LEARNING OUTCOME Business Buying Behavior:

36 REVIEW LEARNING OUTCOME Business Buying Behavior LO 8 Customer service Initiator Influencer Decider Gatekeeper Purchaser User Buying Center Quality Service Price Evaluative Criteria Buying Situations New buy Straight rebuy Modified rebuy

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