MKT 504 Lecture Notes - Lecture 3: Outsourcing, Electronic Data Interchange, Assertiveness

• School: Ryerson University
• Department: Marketing
• Course: MKT 504
• Professor: Daryl D' Souza

Document Summary

Salespeople work and interact with many different buyers broke them down into two categories consumer market | business markets | Consumer markets a market in which consumers purchase goods and services for their use or consumption. Raw materials, component parts: day-to-day operations ex. Office supplies, professional services, insurance: businesses stress overall value as the cornerstone for purchase decisions. There are many distinguishing characteristics of business markets . Business markets typically exhibit high level of concentration in which a small number of large buyers account for most of the purchases. Derived demand demand in business markets that is closely associated with the demand for consumer goods. Think of economics when the demand for consumer product goes down so does the related demand in business markets. Acceleration principle when demand increases (or decreases) in the consumer market, the business market reacts by accelerating the buildup (or reduction) of inventories and increasing (or decreasing) plant capacity.