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Industrial Marketing
Also called: Business-to-Business (B2B) and Organizational Marketing.
Definition: the creation and management of mutually beneficial relationships between organizational suppliers and organizational customers. Customer can be private firm, public agency, or nonprofit organization.
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Marketing Concept
Three major components:
All company activities should begin with, and be based on, the recognition of a fundamental customer need. A customer orientation should be integrated throughout the functional areas of the firm: production, engineering, finance, R&D. Customer satisfaction is viewed as the means to long-term profitability goals.
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Follower
Customer Focus Isolate
Low Low
Interact
Shaper
Technology Focus
High
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Market Orientation
Acquire intelligence from the external environment.
Disseminate that intelligence throughout the organization. Respond to the intelligence: take action.
(Kohli and Jaworski 1990, Journal of Marketing)
Learning Goals
1. Learn the consumer market and construct model of consumer buyer behavior 2. Know the four factors that influence buyer behavior 3. Understand the types of buying decision behavior and stages in the process 4. Comprehend the adoption and diffusion process for new products
Definitions
Consumer buyer behavior refers to the buying behavior of final consumers individuals and households who buy goods and services for personal consumption All of these final consumers combine to make up the consumer market
Sophistication
Wholesale/Retail Trade
Final Consumers
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