Chapter 7 Business Markets & Organizational Buying.

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Presentation transcript:

Chapter 7 Business Markets & Organizational Buying

Objectives bID components of business markets bLearn steps of organizational buying decisions bCharacterize basic organizational buying situations bExplore effect of Internet on B-to-B marketing bUnderstand importance of the buying center bExplore needs of organizational buyers, and strategies to meet those needs bDescribe nature of organizational demand bOverview NAICS and its usefulness

Key questions: Who bought it? Why did they buy it? Key questions: Who bought it? Why did they buy it? Business-to-Business Marketing bAny sale to an industrial user, wholesaler, retailer, or organization other than the ultimate consumer...

Characteristics of the Business Market Relatively few customers Relatively GeographicalConcentrationGeographicalConcentration Prefer to buy direct from manufacturer Prefer to buy direct from manufacturer Expertise in buying buying Importance of repeat transactionsImportance transactions GlobalCompetition

Buy Phase: Steps in Organizational Buying Step 1: Identification of the need Step 2: EstablishObjectives Step 3: ID Suppliers/ EvaluateAlternatives Step 4: Selection of Suppliers/Negotiations Step 5: EstablishRelationship

Three buying situations Straight rebuy: Automatic and regular purchase of familiar products Modified rebuy: Buyer is not completely satisfied with current suppliers and shops around New task buying: Buyer seeks to fill a need never before addressed

The Internet Dramatically Changes Organizational Buying

bInformation availability & dissemination bCustomer customization bCustomer service bMessaging bFAQ’s bIncrease # of bidders bDecrease costs

BUYING CENTER The Buying Center bInformal & dynamic bCross-departmental bInformation center bAcquisition bDissemination bProcessing DATAINFORMATION BUYING DECISION

Buying Center: Roles bRoles of buying center individuals include…. bUsers bGatekeepers bInfluencers bDeciders bBuyers

Roles in Organizational Buying: Users Employees and managers who will actually use the product

Roles in Organizational Buying: Buyers Has the formal authority to purchase the product

Roles in Organizational Buying: Gatekeeper Controls the flow of information related to the purchase

Roles in Organizational Buying: Decider Makes the actual purchase decision

Roles in Organizational Buying: Influencer Affects the purchase decision by supplying advice or information

Why Do Organizations Buy? ProductQuality RelatedServices Price Delivery & Inventory BottomLine Collab-oration

Generalizations About Organizational Demand INCREASED INTERNATIONAL TRADE DEMAND FOR BUSINESS FLYING DEMAND FOR AIRPLANES DEMAND FOR SHEET METAL AND ALUMINUM INCREASED MINING REQUIRED Derived demand: Ore

Generalizations About Organizational Demand bPrice inelasticity bPrice/cost increases passed to customer bComponent prices small % of total cost

Generalizations About Organizational Demand bFluctuating demand bLinked to economy’s ups and downs bLarger inventories maintained bProduct durability

North American Industry Classification System (NAICS) bReplaces SIC (Standard Industrial Classification system) bIncorporates technological changes bCreates relevant & current industrial databases

Review bID components of business markets bLearn steps of organizational buying decisions bCharacterize basic organizational buying situations bExplore effect of Internet on B-to-B marketing bUnderstand importance of the buying center bExplore needs of organizational buyers, and strategies to meet those needs bDescribe nature of organizational demand bOverview NAICS and its usefulness

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