Question

1.What is business marketing? Identify four categories of business customers.

2. Describe the six different steps in the consumer decision making process.

3. List and describe the four types of consumer offerings.

4. Please define value. Does the determination of value differ for each customer? Please provide a relevant example(s).

Answer 1

Answering the first question as HOMEWORKLIB policy

Que 1. What is business marketing?

Answer: Business marketing is the practice of marketing which entails organizations (B2B) as well as individuals (B2C) in order to increase sales, increase awareness or launch a new product. It makes sure that the firm is able to sell the product to those agencies, individual or companies, which are going to resell them. They may also use the product in their production or make a new product or service using it.

Identify four categories of business customers.

1. Producers: They produce their unique product using our product an input. They indulge with us in a B2B relationship however, they further may sell it in B2C model.

2. Institutions: These are schools, churches, NGOs and others who use our product not necessarily for profit and increase the demand as well as utility.

3. Resellers: These are people or agencies who buy our product and again sell it to different markets a per the emerging demand. They may work as suppliers to producers or distributor as well.

4. Government: Govt is a notable business buyer for various products. They provide it to the public as a subsidy. may give it to their employees or may store it as a contingency. They are the largest buyers across the world in the B2B domain.