IBM 301 Lecture Notes - Lecture 7: Chaebol, Keiretsu
20 Mar 2019
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Document Summary
The marketing of goods and services to individuals and organizations for purposes other. Aid the normal operations of an organization. Loyal customers are more profitable than price-sensitive customers with little brand loyalty. Keiretsu (japan) or chaebol (korea) relationships are highly integrated: Companies have executives sitting on each others" boards. Derived: demand for business products results from demand for consumer products. Inelastic: a change in price will not significantly affect the demand for product. Joint: multiple items are used together in the final product - demand for one item affects all. Fluctuating: demand for business products is more volatile than for consumer products. All those people in an organization who become involved in the purchase decision. Number of people involved varies with each purchase decision. Buying centers do not appear on formal organization charts. New buy: a situation requiring the purchase of a product for the first time.
