IBM 301 Lecture Notes - Lecture 7: Chaebol, Keiretsu

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Published on 20 Mar 2019
Course
Professor
Chapter 7: Business Marketing
What is Business Marketing?
The marketing of goods and services to individuals and organizations for purposes other
than personal consumption
Business Products
Are used to manufacture other products
Become part of another product
Aid the normal operations of an organization
The key is intended use
Relationship Marketing
Loyal customers are more profitable than price-sensitive customers with little brand
loyalty
Long-term relationships build competitive advantage
Strategic Alliances
Licensing or distribution agreements
Joint ventures
Research and development consortia
Partnerships
Relationships in Other Cultures
Keiretsu (Japan) or Chaebol (Korea) relationships are highly integrated:
Companies have executives sitting on each others’ boards
Maintain dedicated trade efforts
Joint development, finance, and marketing
Major Categories of Busines Customers
Producers
OEMs
Resellers
Wholesalers
Retailers
Governments
Federal
State
Local
Institutions
Schools
Churches
Civic clubs
Hospitals
Unions
Foundations
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