University:
California State University, Northridge
Course:
MKT 304 | Marketing Management
Academic year:

2023
Views:

21

Pages:

2
Author:

Mahmoud M.

Marketing notes Business and Behavior The Nature and Dimensions of Business Management Business: Business for companies, governments, or nonprofits. - It will be important to understand the characteristics and behavior of buyers. Enterprise Buyers: Manufacturers, retailers, wholesalers, and government agencies that purchase goods and services for their own use or sale. - Purchase of telephone and computer for personal use. - Procurement of raw materials, production, equipment, commercial services. -Divided into three different markets: Commercial, Commercial, and Government. Industrial Market • Recycle purchased goods or services before selling them to the next buyer. • Example: Bank takes money from depositors, recycles it, and "sells" it as loans to borrowers. • The first four species: Manufacturing, Mining, Construction, Agriculture / Timber / Fish. Sale of physical goods. • Business services Legal advice, car repair, dry cleaning sales. • Other business: finance, insurance, real estate, transportation, communications. Distributor Market • Retailers and retailers buy physical products and resell without reprocessing. Government Entity • Government agencies are federal, state, and local agencies that purchase goods and services for the organizations they serve. Measuring Industry, Distributor, and Government Markets • North American Industry Classification System (NAICS): Provides industry definitions for Canada, Mexico, and the United States. Report transactions with numerical codes in the specified format. ▪ For number coding system. Characteristics of Purchasing Organization Demand Factors • Customer demand for a product or service is influenced by its price and availability, customer's personality taste, and disposable income. • Derivation of business needs. Derived Demand: Demand for goods and services driven by demand for goods and services. ▪ Example: Implementation based on customer request for letters, FedEx packages. Size of the order or purchase • The size is larger than the customer's size. • The dollar value is usually thousands or millions of dollars. • When orders are large, buyers often have to accept offers from different vendors.