Consumer and Business Products
MARKETING MATTERS The two broad market categories are consumer markets and business markets
What do you think the definition of a consumer market and a business market is
Consumer Markets
How do you decide which products will best meet your needs when you are shopping?
The consumer purchase classification system is based on two factors
Which two factors is the consumer purchase classification system based on
Write down at least five examples of a consumer market
What is the definition of a consumer market
Categories of Business Products
MARKETING SCENARIO Purchase decisions at the movie theater
Can you think of any reasons why the data that the theater manager collected might not help them to make accurate predictions for what consumers will purchase in the next three months
What information did the theater record and for how long
What problem did the theater manager want to solve by collecting data
Developing products for the business market requires an understanding of how the businesses a company wants to sell to use the products
Raw Materials
Which types of businesses regularly use lumber as a raw material
Why is it important for businesses that sell business products to understand how the businesses they sell to will use these products
Component Parts
Which category or categories of business products are most important to a hotel? Why
Which category or categories of business products are most important to a manufacturer? Why
What two factors form the basis of the consumer purchase classification system
What are component parts
What is capital equipment
Make Academic Connections Technology
Connect to the Real World You work for a soft drinks retailer that provides a home-delivery service to consumers in your area