MKT 504 Chapter 3: MKT504 Effective Persuation Ch 3
Document Summary
Understanding customers is a key component in developing customer relationships. Concentrated demand: small number of buyers (but are large buyers who make the most purchases/big amounts example a big order of toilet paper vs a pack of toilet paper a month) Derived demand: associated with consumer good demands (demand of consumer product goes up or down, business market follows) Purchasing professionals buyers in the business markets are trained as purchasing agents. As results salespeople must possess increased levels of knowledge and expertise. Step 1: recognition of the problem or need. The need gap is the gap or differences between desired and actual states: desired state: a state of being based on what the buyer desires, actual state: buyers actual state of being. Business buyers typically undergo a conscious and logical process in making purchase decisions. Step 2: determination of the characteristics of items and the quantity needed. Step 3: description of the characteristics of items and quantity needed.
