Business Market
COMMUNICATING WITH CUSTOMERS:
BUSINESS MARKETS
A Written Report
Presented to Prof. Maria Theresa Ranquilman
Pamantasan ng Lungsod ng Maynila
Intramuros, Manila
In Partial Fulfillment of the Requirements for the Degree
Master in Business Administration
By
Analyn P. Deogracias
October 2014
Connecting with Customers: Business Markets
Organizational Buying It is a decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.
Business Market versus Consumer Market
Business Markets comprises all organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit.
The major industries making up the business market are agriculture, forestry, and fisheries; mining, manufacturing; construction; transportation; communication; public utilities; banking, finance, and insurance; distribution; and services.
Consumer Markets is dominated by products and services designed for the general consumer. Industries in the consumer markets often have to deal with shifting brand loyalties and uncertainty about the future popularity of products and services.
Differences of Business Market from Consumer Marker
Market structure and demand
Business market contain Fewer but larger buyers
Business buyer demand is derived from final consumer demand
Inelastic demand is not affected as much in the short run by price changes
Demand in business markets fluctuates more and more quickly
Geographically concentrated buyers
Nature of the buying unit
Buying business involves a more professional purchasing effort
Involves multiple buying influences
Types of decisions and the decision-making process
Business buyers usually face more complex buying decisions
Business buying process is more formalized
In business buying, buyers and
BUSINESS MARKETS
A Written Report
Presented to Prof. Maria Theresa Ranquilman
Pamantasan ng Lungsod ng Maynila
Intramuros, Manila
In Partial Fulfillment of the Requirements for the Degree
Master in Business Administration
By
Analyn P. Deogracias
October 2014
Connecting with Customers: Business Markets
Organizational Buying It is a decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.
Business Market versus Consumer Market
Business Markets comprises all organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit.
The major industries making up the business market are agriculture, forestry, and fisheries; mining, manufacturing; construction; transportation; communication; public utilities; banking, finance, and insurance; distribution; and services.
Consumer Markets is dominated by products and services designed for the general consumer. Industries in the consumer markets often have to deal with shifting brand loyalties and uncertainty about the future popularity of products and services.
Differences of Business Market from Consumer Marker
Market structure and demand
Business market contain Fewer but larger buyers
Business buyer demand is derived from final consumer demand
Inelastic demand is not affected as much in the short run by price changes
Demand in business markets fluctuates more and more quickly
Geographically concentrated buyers
Nature of the buying unit
Buying business involves a more professional purchasing effort
Involves multiple buying influences
Types of decisions and the decision-making process
Business buyers usually face more complex buying decisions
Business buying process is more formalized
In business buying, buyers and