This website uses cookies to ensure you have the best experience. Learn more

Principles Of Marketing Assignment

1527 words - 7 pages

Identify, describe, and give examples of the four major types of business markets.
1.Producer Markets
a.Individuals and businesses that purchase products used to produce other products or for use in their operations for the purpose of making a profit.
b.Includes buyers of raw materials, semi-finished and finished items used to produce other products.
c.Examples: –purchase seed to grow crops such as corn, soybeans, etc.,
iiconstruction firms – lumber used to build houses, decks

2. Reseller Markets
a. Consist of intermediaries including wholesalers and retailers that buy finished goods and resell for a profit. Physical characteristics are not changed in products handled. ...view middle of the document...

c. Government purchases are made through bidding or negotiated contracts. In order to bid on a job, firms must apply, be approved, and placed on a list of qualified bidders. Governments are usually required to accept the lowest bid.

4. Institutional Markets
a. Include organizations of charitable, educational, community, or other nonbusiness goals.
b. Examples include: churches, some hospitals, fraternities & sororities, charitable organizations (Wheels for Wishes, United Way, Race for the Cure, etc.) and private colleges (Augsburg, Bethany Lutheran, Concordia, etc.)
c. Institutions purchase millions annually of products to supply goods, services and ideas to congregations, students, patients, and others.
d. Institutions have different goals and fewer resources than other types of organizations. Marketers use special marketing efforts to serve institutional markets.

2. Why might business customers generally be considered more rational in their purchasing behavior than ultimate consumers?
Businsess customers
• are more informed about the products they are purchasing.
• Typically demand detailed information about a product’s functional features and technical specifications to ensure their needs are met
• Partnerships, mutually beneficial realtionships, are formed by many suppliers and customers

3. What are the primary concerns of business customers?
Price, Product Quality, Service, and Supplier Relationships
Price-influences operating costs and cost of goods sold which affects selling price, profit margin, and ability to compete
Product Quality –most firms establish standards, usually in terms of percentage of defects allowed, for products
Services offered by suppliers –directly influences the businesses costs, sales, and profits. Typical services desired are market information, inventory maintenance, on-time delivery, and repair services.
Relationships and trust built between the supplier and business customers results in reduced search efforts and uncertainity about monetary prices for buyers

4. List several characteristics that differentiate transactions involving business customers from consumer transactions.
Business customers characteristics:
• transactions tend to be larger
• negotiations occur less frequently, though they are lengthy
• frequently involve more than one person or department in the purchasing organization
• may involve reciprocity (an arrangement where organizations agree to purchase from each other)
• are usually better informed than ultimate consumers & more likely to seek information about a product’s features and technical specifications
• business customers purchasing products are particularly concerned about quality, service, price, and supplier relationships
• Business buyers use several purchasing methods; description, inspection, sampling, and negotiation

5. What are the commonly used methods of business buying?
Most business buyers use purchase methods; description,...

Other Papers Like Principles of Marketing Assignment

Principles of Finance Assignment 2

1790 words - 8 pages Assignment 2 Principles of Finance – FIN 100 Ginger Tyner Strayer University Professor Kalonji Ntambwe November 28, 2010 Abstract This Report will contain answers to five (5) questions asked concerning: • Identify the components of a stock’s realized return. • Knowing the contrast of systematic and unsystematic risk • Explaining why Total Risk of a Portfolio is not equal to Weighted Average Risk of securities in a portfolio

Mktg 205 – Principles of Marketing

1369 words - 6 pages American Intercontinental University Unit 1 Individual Project MKTG 205 – Principles of Marketing October 7, 2012 Abstract This paper is about marketing the service of self defense training. It will identify, describe, and analyze three marketing environment forces that will impact this service. Strategies to overcome the threats and capitalize on opportunities will also be explored throughout the paper. Self Defense Training and

Mktg 205 – Principles of Marketing

1454 words - 6 pages Sheena Lindsey-Smith American Intercontinental University Unit 1 Individual Project MKTG 205 – Principles of Marketing August 25, 2012 Abstract Human resource development has become an essential component in the developmental process of any organization. In the field of human resource management, training and development is the field which is concerned with organizational activity aimed at bettering the performance of individuals and

Principles of Marketing to Build Strong Customer Relationship

2060 words - 9 pages DEMETHRA BARNETT MGT 350 PRINCIPLES OF MARKETING MARKETING HARRY DERDERIAN APRIL 3, 2008 Marketing is the process when companies create value for customers and build strong customer relationship in order to capture value from customer in return. Within marketing there is a process that is used to build customer relationship and value. Marketing also deals with the customer’s needs, want, and their demands. Next after the

Principles of Marketing

839 words - 4 pages Abstract When evaluating market strategies there are many factors to consider. The home healthcare industry has many different ways of marketing their services. Along with every marketing strategy there are threats involved. This paper will assess three of the environmental marketing forces: society, economic, and technological forces and how they impact home healthcare services. By evaluating and assessing how to capitalize on strategic

Principles of Marketing

993 words - 4 pages and simple way to think about the risks of growth. The purpose of this matrix is to help managers consider how to grow their business through existing or new products or in existing or new markets. In this way he was helping managers to assess the differing degrees of risk associated with moving their organization forward. Ansoff’s matrix suggests four alternative marketing strategies which hinge on whether products are new or existing. They

Principles of Marketing

1133 words - 5 pages BASIC ACCOUNTING THEORIES 1. What is a conceptual framework? Why is a conceptual framework necessary in financial accounting? A conceptual framework is coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature, function, and limits of financial accounting and financial statements. A conceptual framework is necessary in financial accounting for the following reasons: 1. It

Product a Breakdown of the Principles and Processes Involved in Formulating a Marketing Strategy Including Those of Market Research

2329 words - 10 pages MARKETING MANAGEMENT ASSIGNMENT Product a breakdown of the principles and processes involved in formulating a marketing strategy including those of market research. MBA ID: Word Count: 1901  A marketing strategy is composed of several interrelated elements. According the definition of marketing strategy by Study Market (2011), it outlines the manner in which the marketing mix is used to attract and satisfy the target market(s

Pttls Assignment 4 Principles of Assessment

2386 words - 10 pages elements they may have failed to demonstrate for an indication of understanding giving the assessor the opportunity to provide a grade. 1.2 Define the key concepts and principles of assessment. The key concepts and principles of assessment include: * Fairness * Reliability * Validity * Current * Safe The assessment must be fair, this will begin by ensuring that the assessment process is suitable for all students, it

Principles of Marketing Unit One Ip

1198 words - 5 pages Unit One IP: Principle of Marketing Unit One IP: Principle of Marketing By Porschia Cullen AIU Abstract The following material will reflect the Industry of Home Healthcare and the service it provides. Also to mention, this material that is discussed coincides at a marketing level and addresses key points of the marketing world and how home healthcare service contributes to society . The key points of interest

Assignment 201 Principles of Communication in Adult Social Care Settings

742 words - 3 pages Task A – Short Answer Questions Ai Describe two methods of verbal communication other than one-to-one conversation. Clear speech in order to help people to understand what you are saying. Speak clearly, don't cover your mouth with your hands or turn away from the person. Language and words which involves thinking carefully about the words you are going to use with the individual. Your choice of words should be appropriate to the person

Related Essays

Principles Of Marketing Essay 1989 Words

1989 words - 8 pages 2 Principles of Marketing Company and Marketing Strategy: Partnering to Build Customer Relationships Learning Objectives After studying this chapter, you should be able to: 1. Explain companywide strategic planning in its four steps 2. Discuss how to design business portfolios and develop growth strategies 3. Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value 4

Principles Of Marketing Essay 1953 Words

1953 words - 8 pages Summary of Key Points for Chapter 2 Chapter Objectives: 1. Explain companywide strategic planning and its four steps. 2. Discuss briefly how to design business portfolios and develop growth strategies. 3. Explain marketing’s role under strategic planning and how marketing works with its partners to create and deliver customer value. 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that

Principles Of Marketing Essay 3404 Words

3404 words - 14 pages Principles of Marketing Project MKTG205-1302A AIU Online/ Unit 4 IP William K. Patterson II. 5-27-13 Principles of Marketing Project 1 When a person is considering selling a product there are many factors that must be added in, there are many steps that one must be familiar with if they choose to go about having success. There are no short cuts a person must know their research and have a good understanding on what the product is that

Principles Of Marketing Essay 1372 Words

1372 words - 6 pages Cassie Boykins American Intercontinental University Unit 5 Individual Project MKTG 205 – Principles of Marketing December 8, 2012 Abstract These types of personal care products that Proctor & Gamble (P&G) sells are products with fairly little differentiation. Gain has great passion for the brand. Procter and Gamble works hard to appreciate the Gain consumers and to deliver the great scent experience they find in Gain. In this