MARKETING MANAGEMENT Topic Analyzing Business Markets Kotler Keller Chapter Questions    What is the business market, and how does it differ from the consumer market? What buying situations organizational buyers face? Who participates in the business-to-business buying process? 7-2 Chapter Questions    How business buyers make their decisions? How can companies build strong relationships with business customers? How institutional buyers and government agencies their buying? 7-3 Organizational Buying 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 7-4 Characteristics of Business Markets      Fewer, larger buyers Close suppliercustomer relationships Professional purchasing Many buying influences Multiple sales calls      Derived demand Inelastic demand Fluctuating demand Geographically concentrated buyers Direct purchasing 7-5 Buying Situation    Straight rebuy Modified rebuy New task 7-6 The Buying Center        Initiators Users Influencers Deciders Approvers Buyers Gatekeepers 7-7 Of Concern to Business Marketers     Who are the major decision participants? What decisions they influence? What is their level of influence? What evaluation criteria they use? 7-8 Types of Business Customers   Price-oriented Solution-oriented   Gold-standard Strategic-value 7-9 Handling Price-Oriented Customers     Limit quantity purchased Allow no refunds Make no adjustments Provide no services 7-10 Purchasing Orientations    Buying Procurement Supply chain management 7-11 Product-Related Purchasing Processes     Routine products Leverage products Strategic products Bottleneck products 7-12 Methods of e-Procurement      Websites organized using vertical hubs Websites organized using functional hubs Direct extranet links to major suppliers Buying alliances Company buying sites 7-13 Forms of Electronic Marketplaces        Catalog sites Vertical markets Pure play auction sites Spot markets Private exchanges Barter markets Buying alliances 7-14 Assessing Customer Value     Internal engineering assessment Field value-in-use assessment Focus-group value assessment Direct survey questions     Conjoint analysis Benchmarks Compositional approach Importance ratings 7-15 Order Routine Specification and Inventory    Stockless purchase plans Vendor-managed inventory Continuous replenishment 7-16 Desirable Outcomes of a B2B transaction: OTIFNE    On time In full No error 7-17 Establishing Corporate Credibility    Expertise Trustworthiness Likeability 7-18 Factors Affecting Buyer-Supplier Relationships     Availability of alternatives Importance of supply Complexity of supply Supply market dynamism 7-19 Categories of Buyer-Seller Relationships     Basic buying and selling Bare bones Contractual transaction Customer supply     Cooperative systems Collaborative Mutually adaptive Customer is king 7-20 Opportunism Some form of cheating or undersupply relative to an implicit or explicit contract 7-21 [...]... functional hubs Direct extranet links to major suppliers Buying alliances Company buying sites 7- 13 Forms of Electronic Marketplaces        Catalog sites Vertical markets Pure play auction sites Spot markets Private exchanges Barter markets Buying alliances 7-14 Assessing Customer Value     Internal engineering assessment Field value-in-use assessment Focus-group value assessment Direct survey... Buying Procurement Supply chain management 7-11 Product-Related Purchasing Processes     Routine products Leverage products Strategic products Bottleneck products 7-12 Methods of e-Procurement      Websites organized using vertical hubs Websites organized using functional hubs Direct extranet links to major suppliers Buying alliances Company buying sites 7- 13 Forms of Electronic Marketplaces