Solution Manual For Business Marketing Management B2B, 13th Edition Michael D. Hutt Thomas W. Speh Douglas Hoffman Chapter1. A Business Marketing Perspective A. Chapter Overview Chapter One introduces the student to the unique facets of the business-to-business market. The chapter is pivotal to developing an effective understanding of business marketing management, as the essence of the business market and its unique aspects are often the basis for the development of marketing strategies. The first section of the chapter highlights the important dimensions of B2B customers. These key groups include commercial enterprises, governments, and Institutions. The next section highlights the essential differences between these consumer markets and the B2B market, and provides an insight into the nature of business product demand. Business products are distinguished by the intended use of the product and the intended consumers. The importance of market-sensing and customer-linking capabilities is discussed. Business marketers must develop strong cross-functional relationships within the firm. The essentials of derived demand are explored, highlighting how derived demand influences the demand elasticity for business products. The need for a global market perspective is also discussed. The J.M. Smucker Company is used as an illustrative example of the differences between business and consumer markets, emphasizing the importance of relationships. Section Four of the chapter examines the increasing importance of the supply chain in business marketing. The Internet is allowing business marketers to increase the efficiency of the ordering process and creating virtual markets where products, such as computers, are built to order for customers. Different types of commercial enterprises are also discussed. Section Five of the chapter discusses the classification of goods in the business market. The underlying criteria for classification is how the product enters the production process and the way it is treated in an accounting sense. Entering goods, foundation goods, and facilitating goods make up the three major categories. A final section provides three illustrations of the classification scheme for the purpose of delineating how marketing strategies are adjusted on the basis of the business product's classification. The chapter concludes by introducing a framework that guides the business marketing topics that will be covered in the text. B. Answers to Chapter Discussion Questions 1.
First, it is important for Home Depot and Lowe‘s to have a market orientation to its customers, whether they are consumers or business customers. From a strategy perspective, the two capabilities that Home Depot and Lowe‘s should use to
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