1. Marketing project chapters 6. 7. 8
Marketing project chapters Names: khalid AL-Ghamdi Mohammed AL-Ansari Abdullah AL-Jaffar Mohammed AL-Sada

2. Chapter 6
Business markets contain fewer but larger buyers
Business purchases involve more buyers
business buying involves a more professional purchasing effort
Business buyers usually face more complex buying decisions

3. There are 3 types of buying situations:
Straight buy: A business buying situation in which the buyer routinely reorders something without any modification.
Modified rebuy: A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.
New task: A business buying situation in which the buyer purchases a product or service for the first time.

4. Participants in the business buying process are as follows:
Users: Members of the buying organization who will actually use the purchased product or service.
Influencers: People in an organization’s buying center who affect the buying decisions; they often help define specifications and also provide information for evaluating alternatives.
Buyers: People in an organization’s buying center who make an actual purchase.
Deciders: People in an organization’s buying center who have formal or informal power to select or approve the final suppliers.
Gatekeepers: People in an organization’s buying center who control the flow of information to others

5. There are many major influences on business buyers such as environmental
organizational, interpersonal, and individual
Environmental factors consist of the economy and demand, supply conditions, technology, politics, competition from others and cultures and customs

6. The business buying process is an eight stage system that buyers who face a new task buying situation usually go through.
The first stage is when someone in the company recognizes a problem or need that can be met by acquiring a good or a service
The second stage describes the general characteristics and quantity of a needed item
The third stage is when the buying organization decides on and specifies the best technical product characteristics for a needed item

7. Advances in information technology have made it possible for companies to engage in B-to-B transactions online
They named it: e-procurement. Companies can do e-procurement in many ways
They can conduct reverse auctions, in which they put their purchasing requests online and invite suppliers to bid for the business
Companies also can conduct e-procurement by setting up their own company buying sites

8. Chapter 7
Companies today recognize that they cannot appeal to all buyers in the marketplace
Market segmentation divides a market into smaller segments with distinct needs
behavior that might require separate marketing strategies or mixes
To value each market segment’s attractiveness and to select on or more segments to enter we use market targeting

9. The third step in customer-driven market strategy is differentiation where we differentiate
the market offering to create superior customer value
The final step is positioning
desirable place relative to competing products in the minds of target consumers

10. Chapter 8
Consumer product is a product bought by final consumers for personal consumption
. Shopping product is a consumer product that the customer in the process of selecting and purchasing usually compares on such attributes as suitability
Industrial product is a product bought by individuals and organizations for further processing or for use in conducting a business.

11. Person marketing consists of activities undertaken to create, maintain, or change attitudes or behavior toward particular people
Place marketing involves activities undertaken to create, maintain
Social marketing is the use of commercial marketing concepts and tools in programs designed to influence individuals’ behavior to improve their well-being and that of society.

12. Product quality is the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs
Brand is a name, term, sign, symbol, design, or a combination of these that identifies the products
. Packaging is the activity of designing and producing the container or wrapper for a product.

13. Internal marketing: orienting and motivating customer contact employees and supporting service people to work as a team to provide customer satisfaction
Interactive marketing is training service employees in the fine art of interacting with customers to satisfy their needs
Brand equity is the differential effect that knowing the brand name has own customer response to the product or its marketing

14. Chapter 9
Idea generation is the systematic search for new product ideas
Companies can also obtain good new product ideas from any of a number of external sources.
Crowdsourcing is inviting broad communities of people,
Product concept is a detailed version of the new product idea stated in meaningful consumer terms

15. Marketing strategy development is designing an initial marketing strategy for a new product based on the product concept
The marketing strategy statement consists of three parts
The first part describes the target market
the sales market share and profit goals for the first few years.

16. Business analysis is a review of the sales, costs
Product development is developing the product concept in to a physical product to ensure that the product idea can be turned into a workable market offering
Test marketing is the stage of new product development in which the product and its proposed marketing program are tested in realistic market settings

17. The new product development process should be holistic and systematic rather than compartmentalized and haphazard
Product life cycle is the course of a product’s sales and profits over its lifetime
. Style is basic and distinctive mode of expression
Fad is a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity