MKTG101 Lecture Notes - Lecture 5: Centrelink, Umbrella Brand, New Product Development
Document Summary
Individuals or or organisations that purchase products for resale, use in the production of other products, or for use in their daily business operations. Small number of large competitors: purchase large amounts. The market of retailers, wholesalers and other intermediaries that buy products in order to sell or lease them to another party for profit: reseller intermediaries include, wholesalers: sell to other intermediaries, e. g. retailers. Industrial distributors: sell to organisational buyers: producers, governments and institutions, retailers: sell to consumers, profit of intermediaries derived from price paid by consumers. Institutional markets: the business markets in which non public, not for profit organisations buy and sell products, charitable or social objectives. High volume purchases are also relatively common in the producer market: price competition and negotiation. In the business market, price competition is intense, as price is open to negotiation based on purchase volumes. This marks long term stable relationships crucial, and occasionally gives some organisations enormous market power.
