MKTG 2P91 Lecture Notes - Lecture 7: Offshoring, Software Maintenance, System Integration
Document Summary
Nature of the business market: companies buy services too. Influences in b2b markets: environmental, organizational, interpersonal, an organization"s goals must be considered in the b2b buying process, some companies focus only on b2b markets. Components of the business market: commercial market individuals and firms that acquire products to support, directly or indirectly, production, trade industries retailers or wholesalers that purchase for resale, government. Differences in foreign business markets: may differ due to variations in regulations and cultural practices, businesses must be willing to adapt to local customs and business practices and research cultural preferences. Segmenting b2b markets: segmentation helps marketers develop the most appropriate strategy, segmentation by demographic characteristics, grouping by size, based on sales revenues or number of employees. Segmentation by customer type: customer-based segmentation, dividing a business-to-business market into homogeneous groups based on buyers" product specifications, north american industry classification system (naics, classification used by nafta countries to categorize the business marketplace into detailed market segments.
