12 May IDENTIFY THE PERSON IN AN ORGANIZATION WHO WOULD MOST LIKELY PLAY EACH ROLE.
Marketers in a particular industry consider a 60-day supply of raw materials to be the optimum inventory level. If economic factors induce these firms to increase there inventories to a 90-day supply. The change will bombard the raw material supplier with new orders.
Accelerators principal:
This disproportionate impact of changes in consumer demand on business market demand is called the accelerator principal.
Q6. What is out sourcing? Explain the advantages and disadvantages of this practice.
Outsourcing:
Acquiring inputs from outside vendors for goods and services formerly produced in house.
Advantages include of it being an opportunity to deal with cost effective outside suppliers or those with specialized technological expertise.
Disadvantages include the major risks of losing touch with customers.
Q7. Discuss the major influences on organizational purchasing with examples of each.
1. Environmental factors:
Environment conditions such as economical, political, regulatory, competitive, and technological considerations influences organizational buying decisions.
Examples:
During a recession, sales to cable companies might drop cause households hesitate to spend money on cable services.
2. Organizational factors:
It’s important for marketers to understand customers, or policies and purchasing systems.
Example:
Centralized buyers tend to emphasize long-term relationships while decentralized buyers focuses more on short-term results.
3. Interpersonal influences:
Both, groups and individuals, affect buying behavior.
Examples:
If your friends dress a certain way, you maybe influence to dress the same way.
Q8. Describe the roles in a buying center. Identify the person in an organization who would most likely play each role.
A company’s buying center consists of participants in an organizational buying action.
Users are people who will use the purchased good or service. Their influences may range from negligible to extremely important. People like you and me are users.
Gatekeepers control the information that all buying center members will review. They may exert this control by distributing printed product data or adjustments or by deciding which sales people will speak to which individuals in the buying center.
Influencers affect the buying decision by supplying information to guide buying specifications. Technically personal such as engineers, quality control specialists, architects, etc. are all influencers.
A decider actually chooses a good or service, although a person may have the formal authority to do so. A decider could be a design engineer who develops specifications that only one vendor can meet.
A buyer has formal authority to select a supplier and implement the procedures for securing the good or service.
Q9. In what ways is the government market similar to other organizational markets? How does it differ?
Government markets have contractual guidelines and they’re purchases are influenced by social goals. They buy under two basic types of contracts: a fixed price contract and a price reimbursement contract.
Organizational markets have to deal with segmentation by purchasing situation, geographic factors, size, and number of buyers etc.
Q10. Describe major characteristics of institutional and international markets. How might these characteristics affect marketing strategy?
Institutional markets consist of schools, hospitals, libraries, churches, etc. Governments units may even manage many of them, such as schools and prisons. Other privately managed institutions may implement buying procedures that resemble those of pvt. companies. Group purchasing is an important factor.
To sell successfully in international markets, buyer’s attitudes and cultural patterns must be considered. They must adapt to the local customers of that area. The international markets must also respond to economic conditions, geographic characteristics, legal restrictions, and local industries. It’s important to be aware of these factors otherwise the marketing strategy will fail.
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