Assignment

Analyzing Business Markets Jamil ahmed

Marketing Planning and Applications. Reg# 39753

Q1: How are business markets different from consumer markets?

ANS: Business Marketing refers to the sale of either products or services or both by one
organization to other organizations that further resell the same or utilize to support their own
system. In consumer markets, products are sold to consumers either for their own use or use by
their family members. Business markets have fewer sellers and buyers in any market segment
than do consumer markets. ii. Customers in consumer markets initiate a direct demand with
their purchases. The demand for business products or services depends on the level of activity
that the buying organization can create in its own markets. So characteristics of consumer
markets include product usage rates, brand loyalty, user status or how long they have been a
customer, and even benefits that consumers seek. Companies like to know how often their
consumers visit their restaurants, stores or use their products. And characteristics of business
markets are Size. Market size is defined by current and projected total industry sales,
competition. Competitive environments are defined by the identity, track record, financial
strength and market share of key competitors, Segmentation, Distribution and Key Success
Factors.
Q2: Identify participants and their key roles in the business buying process?
ANS: Participants in the Business Buying Process:
1. Initiators—Users or others in the organization who request that something be
purchased.
2. Users—those who will use the product or service. ...
3. Influencers—People who influence the buying decision, often by helping define
specifications and providing information for evaluating alternatives
These roles include:

 Initiators who suggest purchasing a product or service.

 Influencers who try to affect the outcome decision with their opinions.

 Deciders who have the final decision.

 Buyers who are responsible for the contract.

 End users of the item being purchased.

 Gatekeepers who control the flow of information.