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- They do not buy for their own consumption
- - Businesses, Resellers, and Governments
- - Fewer customers; Large customers
- - Geographically concentrated
- - Demand
- --- Derived - the demand for business products.
- --- Inelastic - means that an increase or decrease in the price of the product will not significantly affect demand for the product.
- --- Fluctuating - the demand for business products - particularly new plants and equipment - tends to be less stable than the demand for consumer products.
North American Industrial Classification System (NIACS)
Replaces the Standar Industrial Classification (SIC)
- NAICS is an extremely valuable tool for business marketers engaged in analyzing, segmenting, and targeting markets.
Purchasing in Business Markets
- Systematic purchase process
- New Buy: a situation requiring the purchase of a product for the first time.
- - Initiators and Users
- - Influencers
- - Gatekeepers
- - Purchasers
- - Decision makers
a situation where the purchaser wants some change in the original good or service.
a situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers.
- Use quality, price, and service as criteria.
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