MKT 100 Chapter Notes - Chapter 5: Retail, Marketing Mix, North American Industry Classification System
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MKT 100 Full Course Notes
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The process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers. Many firms find it more productive to focus their efforts on key industries or market segments rather than ultimate consumers. Mfg buy raw materials, components, and parts that allow them to manufacture their own goods. Marketing intermediaries that resell manufactured products without significantly altering their form. Wholesalers/distributors buy jeans and sell them to retailers (b2b transaction) Possible for businesses of any size to have easy and affordable access to billions of dollars in contracting opportunities with govt. Identify the right persons or decision makers within the organizations who can authorize or influence purchases. Must understand the buying process of each client. Identify the factors that influence the buying process of potential clients.
