ANALYSING BUSINESS MARKETS
compared to customer markets, business markets generally have fewer and larger buyers, a closer customer supplier relation and more geographically concentrated buyers. Demand in the business market is derived from demand in the customer market and fluctuates with business cycle. Business marketers need to be aware of the role of the professional purchasers and their influencers, the need for multiple sales calls and the importance of direct purchasing.
Like the buying process for the customer, B2B also has its own buying decision making process.
It consists of eight stages as follows :
- problem recognition
- general need description
- product specification
- supplier search
- proposal solicitation
- supplier selection
- order routine specification
- performance review
Red Bull caters to both customer and business market.
Business to business (B2B) : Red bull supplies to food chains, Restaurants, hotels, clubs, bars, and juice shops. It is used mostly as a mixer, so one can always find it in the clubs and bars.
No comments:
Post a Comment