...COMMUNICATING WITH CUSTOMERS: BUSINESS MARKETS A Written Report Presented to Prof. Maria Theresa Ranquilman Pamantasan ng Lungsod ng Maynila Intramuros, Manila In Partial Fulfillment of the Requirements for the Degree Master in Business Administration By Analyn P. Deogracias October 2014 Connecting with Customers: Business Markets Organizational Buying It is a decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers. Business Market versus Consumer Market Business Markets comprises all organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit. The major industries making up the business market are agriculture, forestry, and fisheries; mining, manufacturing; construction; transportation; communication; public utilities; banking, finance, and insurance; distribution; and services. Consumer Markets is dominated by products and services designed for the general consumer. Industries in the consumer markets often have to deal with shifting brand loyalties and uncertainty about the future popularity of products and services. Differences of Business Market from Consumer Marker Market structure and demand * Business market contain Fewer but larger buyers * Business buyer demand is derived from final consumer...
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...ANALYZING BUSINESS MARKETS 1. What is the business market, and how does it differ from the consumer market? The business market is the muster of organizations or entities that engage in the acquisition of goods and services for the production of other goods and services which may be sold, rented, or supplied to other entities. Some examples of the organizations that make up the business market are agriculture, mining, manufacturing, banking and finance. The business market differs from the consumer market in many aspects. One of these is that the business market engages in fewer, yet larger buyers. This means that although there are lesser buyers, these buyers invest huge amounts to the industry. Another one is the close supplier-customer relationship. Similar to the first one, since there are lesser buyers, the relationship between the buyer and the seller is uptight because of the smaller customer base and the importance that the market places on the huge buyers. Professional purchasing is also another difference between the business market and the consumer market. The purchase that occur in the business market are often done by trained purchasing agents which have thoroughly studied and adhered to what the business entities that they represent need. Another difference between the two markets is multiple buying influences. This entails the sellers to send in professional sales representatives to conduct business with the potential buyers since the buyers also send in buying...
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...SEGMENTING BUSINESS MARKETS Segmentation of markets remains important even though the number of buyers in a business market may be relatively fewer compared to a consumer market. The basic grouping of a business market is by customer location, customer type and transaction conditions. 1. Customer Location On most occasions, business markets are segmented on a geographical basis. Some industries are geographically concentrated. An example is a business that process natural resources locate themselves close to the source in order to minimize shipping costs. 2. Customer Type This sub-divided into four different categories: - a) Size b) Industry c) Organizational Structure d) Purchase Criteria a) Size: Business customer size can be estimated using factors such as sales volume, number of employees, number of production facilities and number of sales offices. Most sellers divide their potential market into large and small accounts, using separate distribution channels to reach each segment. The sellers force may contact large volume accounts directly, but to reach the smaller accounts, the sellers may use a middleman or rely on the internet or telemarketing. b) Industry: Firms that sell their products to other business may want to segment its market on the basis of industry. However, if a firm like the afore-mentioned one were to segment its potential customers by type of customer and then specializing in order to meet the needs of organizations then they would be...
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...Cheung Kong MBA Thesis Oral Defense Jul 30/31, 2011 Takeda’s Vaccine Business Strategy CKMBA0621 Jenny Jie PENG 彭洁 Agenda 1. 2. 3. Why Vaccines? – – Key Trends – – – – Maximize value of current assets Major Drivers for Growth Why Takeda? Why Vaccines Create Opportunity for Takeda Current pipeline opportunities Short and long term growth potential Capability mapping for future growth How? Roadmap to Establish Takeda’s Global Vaccines Business – – – Opportunities and barriers to entry Strategic roadmap to enter global vaccines market and address capability gaps Proposed action plan Why Vaccine? Vaccine Has Become an Attractive Market • • • Vaccine is the most cost-effective tool for disease prevention and reduction of healthcare costs Investment in partnerships and other deals to develop and manufacture vaccines has been on a tear: dollars in government and non-government grants are bringing – Billionways to develop and manufacture new and improved vaccines better, faster worldwide emphasis on – Rising are purchasing a broader preventive health care: Government and private sector set of modern vaccines – Acceleration of vaccine development since the birth flu, SARS, swine flu – The advent of the first multibillion-dollar vaccines, have further boosted their appeal Vaccines now are viewed as a crucial path to growth, as drug makers look for ways to bolster slowing prescription medicine sales amid intensifying generic competition and government pressure to cut...
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...Ana Carolina Rossini Business Software HFT Stuttgart – 2013 2013 Argentinean Business Software Market Ana Carolina Rossini HFT Stuttgart 28/02/2013 1 Ana Carolina Rossini Business Software HFT Stuttgart – 2013 Contents Introduction ...................................................................................................................... 2 Enterprise Resource Planning.......................................................................................... 2 Argentinean Business Software Market .......................................................................... 3 The Argentinean business software market is a growing market. ............................... 4 Business Software suppliers present in the market .......................................................... 5 HR Crisis in the Argentinean Business Software sector ......................................... 5 List of Argentinean Business Software developers: ................................................. 6 Conclusion ........................................................................................................................ 7 References ......................................................................................................................... 7 Introduction Business software is one of the fastest growing economic activities in Argentina so far this decade, especially after the devaluation of their Argentinean peso in 2002. Thanks to the economic recovery and export...
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...Student ID: ID6067 Course Title: International Business Trade Course ID: 5205/C Professor Name: Manfred Brauchle Submission Date: 29.12.2011 Albanian Business Environment & International Market Integration Constrains Research Paper TABLE OF CONTENT Abstract Introduction 1. Albanian Business Environment Data 2. Albanian Business Law and its Consequences on Domestic /Foreign Business Environment 3. Key Risks Threatening Business in Albania 1. Domestic Political Situation 2. Inflation /Taxes & Price Effects 3. Population and Business Distribution Geography 4. The Immigration and its Impact on the Economy and Business Demand 5. Global crisis – Greek & Italian Crisis 4. Conclusions 5. Literature Abstract This paper provides an overall picture of the business environment difficulties of East European Countries, through the concrete case of Albania, towards new political & economic changes in parallel with global changes. It will consider the type of businesses operating within the country, the market environment fragility & volatility, several types of risks present, the impact of Euro versus domestic businesses and joint ventures within Albanian market and the most evident barriers that domestic business has in order to act internationally. Introduction Change in Eastern...
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...Is stock market performance linked to business performance? Abstract Still in the heart of an unprecedented financial crisis, new questions came up about the working of the stock market. In the eyes of general public the stock market can seem a lot like gambling to the extent that this one was reconsidered. The stock market index seems to be valuating at random, especially since the last financial crisis. But the fact that stock market plays an important role in the health of the economy turn impossible this though from general public, which leads us to ask the following question: how the stock market is influenced? We will adopt a general approach and focus on the probable influence of business performance on stock market performance. In order to do so, we collected information and date from Standard and Poor’s source and from specialized source. Executive summary The first modern stock market, today called the New York Stock Exchange (NYSE) was established in 1792 in New York City . The purpose of the stock market is to give the opportunity to companies to open themselves up to public investment in order to raise capital. The stock market is composed of a primary market and a secondary market. The primary market is where a company sells shares for the first time or issues new ones. In the secondary market investors trade securities or assets with other investors, the cash proceeds from transactions go to the investors instead of the company. At this point...
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...Business Group Networks and Group Innovation in Emerging Markets Business groups, a constellation of legally independent firms operating under common administrative and financial management and connected by various types of ties, have been recognized as an important innovation powerhouse in emerging markets such as Korea and Taiwan(Chang, Chung, & Mahmood, 2006; Mahmood & Mitchell, 2004; Mahmood & Singh, 2003). Given the pervasive networks between business group members (Hamilton, 1996), scholars have assigned an important role to intra-group networks in understanding where the innovativeness of business group arises in emerging markets. Particularly, scholars have focused on three most commonly observed types of ties in business groups, i.e., buyer-supplier ties, equity ties and interlocking director ties (Belenzon & Berkovitz, 2010; Khanna & Rivkin, 2006; Mahmood, Zhu, & Zajac, 2011). Specifically, buyer-supplier ties within business groups connect firms engaged in commercial transactions and enable them to transfer production materials and market information across firm boundaries. Equity ties connect group members who hold equity stakes in each other through cross-shareholdings, providing a channel for the transfer of financial investment and control. Finally, director ties connect group members as they share the same individuals on the boards, and hence enable group members to coordinate strategies and governance (Mahmood et al., 2011). One explanation on how intra-group...
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...Business Project- Part II Baker College: Intro to Business Management 101 Devin N. Burns October 30th, 2015 Whole Foods Market brands themselves as “America's Healthiest Grocery Store.” They were founded in 1980, when four local business people decided that the natural food industry was ready for supermarket format. They started with one small store in Austin, Texas and now are the worlds leader in natural and organic foods, with 431 stores in North America and the United Kingdom. Much of the growth of this fortune 500 company, has been accomplished through mergers and acquisitions. They operate as a high profitable corporation while maintaining an aura of commitment to social justice and environmental responsibility. Although Whole Foods Market operates on a profit, it also has established three non-profit organizations; Whole Kids Foundation, Whole Planet Foundation, and Whole Cities Foundation. 100% of donations help to support and achieve the mission of each of these organizations. Many of Whole Food Markets distributors and global partners are contributors to these organizations. Whole Foods Market is not only a highly successful business, but a movement in shaping the future of a world that values human creativity, diversity, and individual choice. Whole Foods Market, the first National Certified Organic Grocer in the United States, is a Fortune 500 company and ranked as the 10th-largest food and drug store in the United States. The four founders of Whole...
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...Integrated marketing Communications Plan for Kmart Introduction Integrated marketing communications are important tools for companies to deliver their messages to their targeted customers. Marketing communication effectiveness was proved to have direct impact on organizational performance (Jerman & Završnik, 2012). Almost all business organizations take use of them to increase sale revenue or to raise their brand awareness. This paper is dedicated to develop a creative marketing communication plan for Kmart to attract the male consumers in their ages of 35-50. As different customers usually have different needs, the communication plan should be tailored according to the special need of selected customers. This paper will do various researches and analyzes to develop an efficient plan. It starts by enlisting the communication objectives. Then the possible way to achieve them will be explored and the most appropriate ones will be selected. At last the media mix and the coverage schedule will be arranged to ensure the successful implementation of this plan. Communication objectives Setting up objectives is usually the first step for communication plan development. Marketing communication objectives which are properly developed by coordinating individual behavior in organization with a view toward achieving the identified objectives affect the effectiveness of the plan positively (Jerman & Završnik, 2012). This kind of objectives can lead manager to a consistent and...
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...you think that a business strategy of targeting emerging markets is a good one (40marks) An emerging market is a country which is in the process of rapid growth and industrialisation and it can consist of the BRIC countries, which are Brazil, Russia, India and China. Targeting an emerging market could be a good strategy. This is because if the current market the business is operating in is in saturation, it could be then justified for them to expand in to these emerging markets as this gives them an escape route away from a saturated market or if the market is in recession to allow them to maximise sales revenue and allow them to survive in a recession. This is because we see that emerging markets usually have a quickly growing middle classes with a strong economic growth meaning that they would be able to escape the worsening current market and move to sell in somewhere with a stronger economy and a larger middle class. Meaning that this middle class is more likely to have money to spend on the new businesses products or services. Also meaning that the growing middle class is resulting in a culture shift, so there could be higher demand for their products or services in the emerging market. As a consequence to moving in to these emerging markets it also means that there brand name and image is growing and becoming more well known in these new markets. We see this with JLRs move to India as the Indian company TATA motors brought JLR, with this market development strategy...
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...Research paper Business Intelligence in the Market By Bryan Bock Dr. Traci O'Neill Business Marketing Montana Tech of The University of Montana December, 13 2012 Abstract Businesses today are working more towards predicting the future, how employees will connect with customers, any way or trend the business can find to improve sales and profit. Business Intelligence is used in the market all around the world in many different areas. Businesses are benefitted from the different types of BI methods all the time. Two of the BI methods that are beneficial are called the Market Basket Analysis (MBA) and the Decision Tree Analysis. These two BI methods are used throughout businesses in areas such as marketing, financing, Real estate, and accounting. Both of these methods help business similarly, but in their own different ways. They are two different types of methods that both help businesses make the best decisions to benefit their company. There are many methods or theories that people come up with to help with a business but these are the few that will be examined in this paper. The goal of the modeling technique market basket analysis is to find different relationships of activities that have been recorded with data through the performance of people. This method can be used on any situation where information can be recorded and identified (Pillai, 2011). The way to improve methods for...
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...Introduction Each market is capable of being further sub-divided into segments. Barclays is a global bank. It provides a range of financial services shares particular characteristics. These include such factors as in 56 countries. Barclays provides retail banking services to age, life stages, geography or occupation. Within the market of customers, whether they are individuals or businesses. It offers a personal banking, the segments could include categories such as broad range of financial products and services including current students, graduates, ‘new to work’, mature, and families. By accounts, savings accounts and general insurance. identifying different market segments, organisations can ensure A market segment is a part of a whole customer group that they are providing products or services to meet the needs of these Within the UK, Barclays communications are designed to help customers. In addition to this, appropriate promotional techniques customers ‘Take One Small Step’ to managing their money better can be used to reach the people in the separate segments. every day. Through segmentation, Barclays has been able to devise appropriate banking offers for customers in different segments. Different kinds of customers represent distinct markets for This approach is helping Barclays to improve its market share of Barclays. The market for personal banking services is very the student accounts market. competitive...
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...An oligopoly market structure has very few sellers of homogeneous or differentiated products; these types of market structures control the market via price, and have to consider the reactions of their competitors when handling their own pricing, output, and advertising decisions (McConnell, Brue, & Flynn, 2015, b). In addition, oligopoly market structures have significant obstacles, and have limited interdependence. Some examples of oligopoly market businesses includes: CMC Steel of Texas, Gerdau Long Steel North America, GE, Whirlpool, Hyundai, Toyota, John Deere, and KD Sales. All of which are the largest manufacturers of homogeneous and differentiated products. Therefore, functioning and maximizing profits are critical to the success of their business. The strategies design by the company is extremely important because with limited interdependence means they cannot act independently. All firms must be on constant watch and must anticipate their rival’s responses to any given change in prices or non-price activities (Market Structure, 2006; McConnell, Brue, & Flynn, 2015, b). Therefore, it is easy to say that these types of businesses need to plan, develop and integrate a variety of options based on how their competitors might or might not react to their decisions. Each critical decision must be factored around the competition’s price, mover advantages, barriers, production, and ownership of resources (Market Structure, 2006). In order to maximize profits and function...
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...Chapter 8 : Creating Brand Equity Resumed by : Kelvin Karnadi 201560115 Sharen Veronica 201560176 Analyzing Business Markets Organizational buying is the decision-making process by which formal organiztions establish the need to purchase products and services, then identify, evaluate, and choose among alternative brands and suppliers. The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others. Buying situations * straight re-buy : A purchasing situation where the buyer reorders the same products without researching or considering other suppliers * modified re-buy : A purchasing situation where the buyer's revisions to the order require additional analysis or research * new buy : A purchasing situation requiring the purchase of a product for the very first time. Participants in the business buying process The major participants in business buying process are * Initiators-are the ones who initiate or recognize the need of a particular product requirement in the organization for enhancement or to combat depravation. * Users-are the ones who are going to use the product or require it for the smooth functioning of their operations. * Influencers --Influencers can be of different levels and the decisions that they influence might differ from person to person or post to post. These are basically the people who will influence the decision of...
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