business markets (principles of marketing)
TRANSCRIPT
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BUSINESS MARKETBUSINESS MARKET
Khawaja Naveed HaiderKhawaja Naveed Haider
073605-085073605-085
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UNIVERSITY OF MANAGEMENTUNIVERSITY OF MANAGEMENT
AND TECHNOLOGYAND TECHNOLOGY
http://www.umt.edu.pk
http://www.umt.edu.pk/http://www.umt.edu.pk/ -
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ContentsContents
Types Of Business MarketTypes Of Business Market
Characteristics Of Business MarketCharacteristics Of Business Market
Buying SituationsBuying Situations
Buying Patterns Of Business Customer.Buying Patterns Of Business Customer.
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Whats Business Market?Whats Business Market?
It is the B2B Concept. (Business toIt is the B2B Concept. (Business to
Business). In which a business dealsBusiness). In which a business deals
with another business. To understandwith another business. To understand
it, lets discuss the purpose of it.it, lets discuss the purpose of it.1.1. To make other goods and servicesTo make other goods and services
2.2. To resell to other business users orTo resell to other business users or
consumerconsumer
3.3. To conduct the organizationsTo conduct the organizations
operations like departmentsoperations like departments
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Types Of BusinessTypes Of Business
MarketMarket Therere certain types of businessTherere certain types of business
market. So lets start with their names.market. So lets start with their names.
1.1. Agricultural MarketAgricultural Market2.2. The Reseller MarketThe Reseller Market
3.3. Government MarketGovernment Market
4.4. Service MarketService Market
5.5. Non Business MarketNon Business Market
6.6. International MarketInternational Market
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Agricultural MarketAgricultural Market
The market in which agricultural sector isThe market in which agricultural sector isinvolved is called agricultural market.involved is called agricultural market.Pakistan, India, Srilanka etc., are thePakistan, India, Srilanka etc., are the
agricultural market.agricultural market.
In this, we purchase some inputs likeIn this, we purchase some inputs likeseeds, pesticides etc. First point ofseeds, pesticides etc. First point ofpurpose of business market is applyingpurpose of business market is applying
here. Then we produce something likehere. Then we produce something likewheat, flour and dough. Dairy farming andwheat, flour and dough. Dairy farming andlivestock is also included in agriculturallivestock is also included in agriculturalmarket.market.
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The Reseller MarketThe Reseller Market
It can be defined as the one whoIt can be defined as the one who
purchase and sell it like agents,purchase and sell it like agents,
middleman and wholesaler. In Lahoremiddleman and wholesaler. In Lahore
Pakistan, Shahalam Market is thePakistan, Shahalam Market is the
biggest wholesale market of Asia.biggest wholesale market of Asia.
Theres a turnover of about billions.Theres a turnover of about billions.
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Government MarketGovernment Market
The three purposes can be put inThe three purposes can be put in
government market. If theresgovernment market. If theres
government hospital, it purchasesgovernment hospital, it purchases
medicines for their doctors to give tomedicines for their doctors to give tothe patients. Here the third purpose isthe patients. Here the third purpose is
applying.applying.
Jinnah Hospital Lahore and PunjabJinnah Hospital Lahore and PunjabPrinting Press Lahore are the examplePrinting Press Lahore are the example
in which second purpose is fulfilling.in which second purpose is fulfilling.
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Service MarketService Market
All those organizations who provideAll those organizations who provide
services to their customers likeservices to their customers like
Immigration Consultancy or StudyImmigration Consultancy or Study
Visa Consultancy or Law agencies.Visa Consultancy or Law agencies.
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Non Business MarketNon Business Market
The non profit oriented organizationsThe non profit oriented organizations
are the non business market. Theirare the non business market. Their
chief objective is to work for thechief objective is to work for the
welfare of the people. Edhiwelfare of the people. EdhiAmbulance Service is the worldsAmbulance Service is the worlds
biggest ambulance service inbiggest ambulance service in
Pakistan. There are other like NGOs,Pakistan. There are other like NGOs,Mosque or Church etc.Mosque or Church etc.
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International MarketInternational Market
The process of import and export is includedThe process of import and export is included
in international market. If we see the world,in international market. If we see the world,
we will observe that china is becoming thewe will observe that china is becoming the
international market and getting a higherinternational market and getting a highershare in the economy of other countries. Itshare in the economy of other countries. It
can also be like that I import some garmentscan also be like that I import some garments
from china to Pakistan. Or it can also be likefrom china to Pakistan. Or it can also be like
that I export my products to other countries.that I export my products to other countries.
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Characteristics Of BusinessCharacteristics Of Business
MarketMarket In business market, demand is derivedIn business market, demand is derived
from consumer market. If theres demandfrom consumer market. If theres demandof bike in consumer market, the demandof bike in consumer market, the demand
of steel will also increase.of steel will also increase.
The demand is inelastic. When youThe demand is inelastic. When youincrease price, demand is not going toincrease price, demand is not going tochange. It can also be like if the price ofchange. It can also be like if the price of
steel increases, bike price will alsosteel increases, bike price will alsoincrease and consumer demand will mayincrease and consumer demand will maydecrease.decrease.
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The demand of business market isThe demand of business market is
widely fluctuating.widely fluctuating.
The buyers of business market areThe buyers of business market are
well informed. The one whos gonnawell informed. The one whos gonna
buy something will see all the thingsbuy something will see all the things
and products and as well asand products and as well as
alternatives. But remember one thingalternatives. But remember one thingthat in this, we dont make massthat in this, we dont make mass
marketing.marketing.
Characteristics Of BusinessMarket
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Types Of BuyingTypes Of Buying
SituationsSituations Therere three types of buying situations.Therere three types of buying situations.
1.1. New Task BuyingNew Task Buying
2.2. Straight Re-BuyingStraight Re-Buying
3.3. Modified Re-BuyingModified Re-Buying
Lets discuss them one by one. Theyre soLets discuss them one by one. Theyre so
simple.simple.
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New Task BuyingNew Task Buying
When a user purchase a product orWhen a user purchase a product or
thing first time, we call it new taskthing first time, we call it new task
buying.buying.
It is like that Im gonna introduce aIt is like that Im gonna introduce a
new product in the market so I mustnew product in the market so I must
be needing some raw material andbe needing some raw material and
Ill buy for the first time.Ill buy for the first time.
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Straight Re-BuyingStraight Re-Buying
It is like when you re order the sameIt is like when you re order the same
thing is called straight re buying.thing is called straight re buying.
Im running a retail shop of garmentsIm running a retail shop of garments
and I bought a suit which was veryand I bought a suit which was very
attractive to the customers so Id reattractive to the customers so Id re
order to my wholesaler for the sameorder to my wholesaler for the same
design suit.design suit.
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Modified Re-BuyingModified Re-Buying
It is like when you re order the sameIt is like when you re order the same
thing with some modifications orthing with some modifications or
changes is called modified re buying.changes is called modified re buying.
You bought a separate shirt for yourYou bought a separate shirt for your
garments retail shop. You re ordergarments retail shop. You re order
the same shirt with different colors orthe same shirt with different colors or
with some changes in fabrics etc.with some changes in fabrics etc.
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Buying Patterns OfBuying Patterns Of
Business CustomerBusiness Customer1.1. Purchase a product directly from the manufacturer normally.Purchase a product directly from the manufacturer normally.2.2. Size of the order. Like bulk purchase etc.Size of the order. Like bulk purchase etc.
3.3. Frequency of purchase. Like in what time span you purchase. 2Frequency of purchase. Like in what time span you purchase. 2times in a week or 5 times in a month etc.times in a week or 5 times in a month etc.
4.4. Nature of the relationship. (Long term relationship between buyerNature of the relationship. (Long term relationship between buyerand seller)and seller)
5.5. Length of negotiation period. Like how long you bargain.Length of negotiation period. Like how long you bargain.
6.6. Reciprocity arrangements. It is like Ill buy from you and youllReciprocity arrangements. It is like Ill buy from you and youllbuy from me.buy from me.
7.7. Service Expectation Level. It is like when Im buying from you for aService Expectation Level. It is like when Im buying from you for along time then I must be eligible for more incentives.long time then I must be eligible for more incentives.
8.8. Leasing process. Its like a financial institution like bank will buy aLeasing process. Its like a financial institution like bank will buy aproduct for you and youll pay the installments like PIA.product for you and youll pay the installments like PIA.
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