Module 9 & 10: Business-to-Business Marketing and Segmentation

Question 1

Business Markets

Answer 1

huge and involve more money and items then consumer markets

Question 2

Derived Demand

Answer 2

occurs when demand for one product occurs because of demand for a related product

Question 3

Transactional Buyer-Seller Relationship

Answer 3

discrete, no history, no defined future, limited communication, narrow content, every interaction is “new”

Question 4

Collaborative Buyer-Seller Relationship

Answer 4

connected, past transactions, future transactions, repeated & related communication, broad content, interactions build over time

Question 5

Users

Answer 5

the individuals who use the product once it is acquired

Question 6

Gatekeepers

Answer 6

control the flow of information into the company that all other users review in making a purchasing decision

Question 7

Decider

Answer 7

the person who chooses the good or service that the company is going to buy

Question 8

Influencers

Answer 8

affect the buying decision by giving opinions or setting buying specifications

Question 9

Buyers

Answer 9

those who submit the purchase to the salesperson

Question 10

Market Segmentation

Answer 10

the process of dividing a larger market into smaller groups, or market segments, based on shared characteristics

Question 11

Targeting

Answer 11

evaluation of market segments to determine segments that present the most opportunity to maximize sales

Question 12

Positioning

Answer 12

consumers compare products and brands based on benefits

Question 13

Geographic Segmentation

Answer 13

dividing a market into different geographical units

Question 14

Demographic Segmentation

Answer 14

dividing a market into segments based on variables

Question 15

Psychographic Segmentation

Answer 15

marketers segment their markets using variables such as social class, lifestyle, and personality characteristics

Question 16

VALS

Answer 16

classifies adults ages 18 and older into 8 psychographic segments according to how they respond to a set of additional and demographic questions –> innovators, thinkers, believers, achievers, strivers, experiencers, makers, and survivors

Question 17

Occasion Segmentation

Answer 17

segments divided according to occasions, when the buyers get the idea to buy, make their purchase, and use the purchased item

Question 18

Benefit Segmentation

Answer 18

segments divided according to the different benefit that consumer seek from the product

Question 19

User Status

Answer 19

markets can be segmented into nonusers, ex-users, potential users, first-time users, and regular users

Question 20

Usage Rate

Answer 20

markets can be segmented into light, medium, and heavy product users

Question 21

Loyalty Status

Answer 21

consumers can be loyal to brands, stores, and companies