STUDY FOR BUSINESS

System Selling Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex situation.

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Business Market The business market is huge. In fact, business markets involve far more dollars and items than do consumer markets. For example, think about the large number of business transactions involved in the production and sale of a single set of Good year tires. Various suppliers sell Goodyear the rubber, steel, equipment, and other goods that it needs to produce the tires. Goodyear then sells the finished tires to retailers, who in turn sell them to consumers. Thus many sets of business purchases were made for only one set of consumer purchases. In addition, Goodyear sells tires as original equipment to manufacturers who install them on new vehicles, and as replacement tires to companies that maintain their own fleets of company cars, trucks, buses, or other vehicles.

Business Buying Process The decision process by which business buyers determine which products and services their organizations need to purchase, and then find, evaluate, and choose among alternative suppliers and brands.

Business Buyer Behavior "The buying behavior of the 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."

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Developing the Research Plan   Once the research problems and objectives have been defined, researchers must determine the exact information needed, develop a plan for gathering it efficiently, and present the plan to management. The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, sampling plans, and instruments that researchers will use to gather new data. a) Secondary Data “Information that already exists somewhere, having been collected for another purpose”

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Types of Buying Decision Behavior Buying behavior differs greatly for tube of toothpaste, and iPod, financial services, and a new car. More complex decisions usually involve more buying participants and more buyer deliberation. Types of consumer buying behavior based on the degree of buyer involvement and the degree of differences among brands.

Model of Consumer Behavior Consumers make many buying decisions every day. Most large companies research consumer buying decisions in great detail to answer questions about what consumers buy, where the buy, how and how much they buy, when they buy, and why they buy. Marketers can study actual consumer purchases to find out what they buy, where, and how much. But learning about the whys of consumer buying behavior is not so easy- the answers are often locked deep within the consumer’s mind. “For companies with billions of dollars on the line, the buying decision is the most crucial part of their enterprise,” states one consumer behavior analyst. “yet no one really knows how the human brain makes that choice.” Often, consumers themselves don’t know exactly what influences their purchases. “Buying decisions are made at an unconscious level.” Says the analyst, “and … consumers don’t generally give very reliable answers if you simply ask them, ‘Why did you buy this?”

Consumer Market All the individuals and households who buy or acquire goods and services for personal consumption

Consumer Buyer Behavior The buying behavior of final consumers-individuals and households who buy goods and services for personal consumption

Marketing Research The systematic design collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization Exploratory Research Marketing research to gather preliminary information that will help define problems and suggest hypotheses.

Developing Marketing Information Marketers can obtain the needed information from internal data, marketing intelligence, and marketing research. Internal Data Electronic collections of consumer and market information obtained from data sources within the company network.

Assessing Marketing Information Needs The marketing information system primarily serves the company’s marketing and other managers. However, it may also provide information to external partners, such as suppliers, resellers, or marketing services agencies. For example, wal-mart gives key suppliers access to information on customer buying patterns and inventory levels. And dell creates tailored Premium Pages for large customers, giving them access to product design, order status, and product support and service information. In designing an information system, the company must consider the needs of all of these users. A good marketing information system balances the information users would like to have against what they really need and what is feasible t offer. The company begins by interviewing managers to find out what information they would like. Some managers will ask for whatever information they can get without thinking carefully about what they really need.

Marketing Information System (MIS) "People, equipment, and procedures to gather, sort analysis, evaluate, and distribute needed, timely, and accurate information to marketing decision makers." The MIS begins and ends with information users, marketing managers , internal and external partners, and other who need marketing information. First, it interacts with these information users to assess information needs. Next, it develops needed information from internal company databases, marketing intelligence activities, and marketing research.

The Company’s Macro environment or Macro Environment The company and all of the other actors operate in a larger macro environment of forces that shape opportunities and pose threats to the company. The six major forces in the company’s macro environment. We examine these forces and show how they affect marketing plans. Company Demographic Forces Economic Forces Natural Forces Technological Forces Political Forces Cultural Force Demographic Environment “The study of human populations in terms of size, density, location, age, gender, rae, occupation, and other statistics”

The Company’s Microenvironment Marketing management’s job is to build relationships with customers by creating customer value and satisfaction. However, marketing managers cannot do this alone. Marketing success will require building relationships with other company departments, suppliers, marketing, intermediaries, customers, competitors, and various publics, which combine to make up the company’s value delivery network. Marketing The Company Suppliers Marketing intermediaries Competitors Publics