BMK 201 Lecture Notes - Lecture 20: Tunxis Community College
6 Jan 2021
School
Department
Course
Professor
Document Summary
Explain the characteristics of different types of business markets. The overall business market can be subdivided into seller markets, producer markets, government markets and institutional markets. Reseller markets comprise marketing intermediaries that buy products in order to sell or lease them to another party for profit. Producer markets comprise businesses and professionals that purchase products for use in the production of other products, or in their daily business operations. Government markets comprise the markets made up of federal, state and local governments. Institutional markets comprise non-public, not-for-profit organisations that buy and sell products. Understand the major issues involved in marketing to business customers. There are some fundamental differences in the characteristics of business markets compared to consumer markets. Many business market transactions are for very high- value purchases. Many business-to-business purchases involve high volumes and regular repeat purchases. Price and other conditions of the sale are often open to negotiation.
