AFM131 Lecture Notes - Lecture 11: Deodorant, Subculture, Relationship Marketing

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

All individuals or household that want good and services for personal consumption. Organizations that buy goods or services to produce other goods and services to sell, rent, or supply to others. Not end consumer: manufactures, intermediaries (retailers, wholesalers, institutions (hospitals, schools, charities, governments. The number of buyers in b2b markets is: roughly the same as the number of b2c, much larger than the number in b2c, relatively smaller compared to b2c, controlled by govt regulation. For each product indicate where it"s a b2c or b2b good or both. Consumer groups differ greatly in age, education level, income, and taste. Cannot fill the needs of every group: market segmentation. Selecting which group an organization can serve profitability. Finding a small but profitable market segment and designing products for them. Developing a unique mix of products for each individual consumer. Breaking them according to age, income, education, or profession. Looking at things such as usage rates and returning customer.