ANALYZING BUSINESS MARKETS

CUMMINS INDIA Consumer Driven Modularization Strategy

TO BE PRESENTED BY: Aditi Grover Ajay Arora Jyoti Patawari Lavina Nagpal Mayuresh Patwardhan Raghav Maheshwari

ORGANIZATIONAL BUYING
Business markets V/S Consumer markets Characteristics of Business Market
Fewer, Larger buyers* Close supplier customer relationship* Professional Purchasing Derived Demand Inelastic Demand Fluctuating Demand* Direct purchasing*

 Buying Situations
Straight rebuy Modified rebuy* New Task

Systems Buying & Selling*

Participants in the Business Buying Process

The Buying Center
Initiators Users Influencers Deciders Approvers Buyers Gatekeepers

 Buying Centre Influences

Targeting within the Business Center

Stages in Buying Process

Problem Recognition General need description Product specification

Supplier selection

Proposal solicitation

Supplier search

Order routine specification

Performance Review

Managing B2B Customer Relationships

Vertical Coordination Classification of Buyer Supplier relationship
Basic buying & selling Bare bones* Contractual transaction* Customer supply Mutually adaptive Cooperative System Collaborative Customer is King*

 Business Relationships: Risks and Opportunism

New Technology and Business Customers

Conclusion
Buying Classification
Business to Business (B2B) Business to Customer (B2C)

Features of Business Market Role In Buying Decision Eight Stages To Be Remembered Institutional Market & Government Market

THANK YOU