[...]... making hamburgers and fries Marketing to government agencies and institutions (which also buy salt for cafeterias and other such uses) such as your college or university is also business marketing Dwyer−Tanner: Business Marketing, Second Edition I Business Markets and Business Marketing 1 Introduction to Business Marketing © The McGraw−Hill Companies, 2003 Chapter 1 Introduction to Business Marketing 7... processes and rigorous standards of purchasing, the nature of business relationships, and the nature of demand It is important to understand these differences so that you can appreciate the special challenges facing business marketers and so that you can better apply what you have already learned about marketing Dwyer−Tanner: Business Marketing, Second Edition 12 Part 1 I Business Markets and Business Marketing. .. on purchasing and distribution, you can well anticipate these important distinctions in business purchasing Dwyer−Tanner: Business Marketing, Second Edition 20 Part 1 I Business Markets and Business Marketing 1 Introduction to Business Marketing © The McGraw−Hill Companies, 2003 Business Markets and Business Marketing Exhibit 1–5 Demand for BASF’s carpet treatment is derived from demand for new homes... as universities and hospitals; and marketing to resellers, including retailers, and industrial distributors Most marketing majors will begin their career in business marketing Understanding business marketing is also important because of the magnitude of business marketing and because it is different from marketing to consumers Business marketing differs from consumer marketing in the types of customers... global markets and face global competition Business buyers are larger than individual consumers, giving each business buyer more power in relation to the seller Dwyer−Tanner: Business Marketing, Second Edition 26 Part 1 I Business Markets and Business Marketing 1 Introduction to Business Marketing © The McGraw−Hill Companies, 2003 Business Markets and Business Marketing At the same time, relationships. .. responsibility of the salesperson Dwyer−Tanner: Business Marketing, Second Edition 10 Part 1 I Business Markets and Business Marketing 1 Introduction to Business Marketing © The McGraw−Hill Companies, 2003 Business Markets and Business Marketing Trade shows are like temporary industrial shopping malls A customer’s size and a direct channel also influence business marketing by increasing the importance of... introduce business marketing After reading it, you should be able to • Define and explain the nature of business marketing • Illustrate the different types of business markets and how they differ from consumer markets • Discuss the nature of demand for business products and services • Explain the different approaches to business marketing, as typified in the relationships between buyers and sellers Business. .. area Dwyer−Tanner: Business Marketing, Second Edition 18 Part 1 I Business Markets and Business Marketing 1 Introduction to Business Marketing © The McGraw−Hill Companies, 2003 Business Markets and Business Marketing At the same time that business markets tend to be geographically concentrated, they are also globally oriented Because customers are fewer in number and tend to be larger and geographically... buyers and sellers tend to be stronger in business marketing Although some business relationships are transactional, many companies seek partnership status with their customers Demand for business products operates differently than does consumer demand Business product demand is derived from the demand for consumer products As a result, business marketing demand can be quite volatile These factors make business. .. consumer demand: that of new housing (often reported in terms of new housing starts) and that of new cars The demand for so many industrial products and supplies is derived from the demand for housing and cars that they are important bellwethers of the economy as a whole Dwyer−Tanner: Business Marketing, Second Edition 22 Part 1 I Business Markets and Business Marketing 1 Introduction to Business Marketing . Edition I. Business Markets and Business Marketing 1. Introduction to Business Marketing © The McGraw−Hill Companies, 2003 THE IMPORTANCE OF BUSINESS MARKETS 6 Part 1 Business Markets and Business Marketing How. salesperson. Dwyer−Tanner: Business Marketing, Second Edition I. Business Markets and Business Marketing 1. Introduction to Business Marketing © The McGraw−Hill Companies, 2003 10 Part 1 Business Markets and Business. Dwyer-Tanner: Business Marketing, Second Edition Table of Contents Preface I. Business Markets and Business Marketing 1. Introduction to Business Marketing 2. The Character of Business Marketing