BE200: Marketing Management

Instructions:

• This THE-F consists of Two questions, answer ALL
• This THE-F covers chapters 6, 7, 8, of the course material.
• This document consists of two pages including the cover page.
• The marks for each part of the question are next to the question.
• Please use the accompanied answer booklet in your submitted answer.
• The format of the submitted answer document must be a Word doc format.

Question One: (50 marks)

Business markets are similar to consumer markets.  Both involve people who assume buying roles and make purchase decisions to satisfy needs.  However, business markets differ in many ways from consumer markets.

In this context, answer the following:

Define Business Buyer Behavior and Business Buying Process. (10 Marks)

Answer: Business buyer behavior can be defined as the buying behavior of companies that purchase products and services as raw materials for use in manufacturing other goods and services. The produced goods or services can be supplied to other organizations, sold, or even rented. Business buying process, on the other hand, refers to the process where business buyers determine the goods and services that need to be bought and thereafter; find, assess, and select the most appropriate ones in a collection of brands...Read more

Give three different examples of Business Markets. (10 Marks)

Answer: Business market refers to the selling of goods or services to other business entities where they are either used to produce other goods and services or resold. There are different types of business markets such as Business-to-Consumer Market,  Business-to-Business market, Service Market, and Professional Service Market. Examples of business markets include sale of raw material to a construction company, Cable operator, and accounting firms …Read more

Compare and contrast business and consumer markets. Include diagrams where appropriate to illustrate your answer. (30 Marks)

Word count 500 words

Question Two: (50 marks)

Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

In this context answer the following:

Compare and contrast targeting strategies. Give examples for each strategy. (30 Marks)

Illustrate you answer with appropriate diagram. (10 Marks)

In your opinion, which strategy is best? Justify your answer. (10 Marks)

Word count 500 words

References 

Sams, D., Schwartz, J., & Smith, R. (2016). Impact of Personal Beliefs in Business-to-Business Buyer Decisions.

Hautamäki, P. (2017). Business-to-Business Buyer–Seller Interactions: Personality and Transformational Leadership Theories’ Perspective. In Leadership, Innovation and Entrepreneurship as Driving Forces of the Global Economy (pp. 531-542). Springer, Cham.

Henn, N., & Lohwasser, T. S. (2020). The advances of community cloud computing in the business-to-business buying process (No. 6/2020). Diskussionspapier des Instituts für Organisationsökonomik.

Camilleri, M. A. (2018). Market segmentation, targeting and positioning. In Travel marketing, tourism economics and the airline product (pp. 69-83). Springer, Cham.

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