Consumer and
Business Marketing
 The
consumer market is the segment of the
overall market that consist of individuals who
buy goods and services for personal
consumption.

Consumers tend to go through 5 steps with every
product or service they buy known as Consumer
Decision Steps.
 1.
Recognize a need
 2. Search for a need
 3. Evaluate the alternatives
 4. Make the purchase
 5. Experience Post-purchase reaction
 New
products are referred to as innovations.
 The consumers willingness to accept an
innovation is known as adoption.
 There are five steps to the adoption process
that a consumer goes through:





Awareness
Interest
Evaluation
Trial
Adoption
The business market is all the producers of goods
and services that sell to other producers who, in
turn, sell, rent, or supply goods and services to
customers.
 Structure:



In the Business Market there are fewer buyers and for
the most part the buyers are larger business or
companies that in turn sell products to millions of
retail consumers.
Demand:

Demand is mainly determined by consumer wants and
needs, consumer demand is what leads to business
demand for products and this is known as derived
demand.
 Similar
to consumer buying decisions business
buying also goes through 5 decision steps.





1. Recognize a problem or a need
2. Specify the product or service and search for a
supplier
3. Receive proposals and select the supplier
4. Write the order
5. Review the transaction
 Consider

Do you sell directly to the consumer?


who you are selling to.
If so then you are involved in retail sales.
Do you sell to another business that sells to the
consumer?

If so then you are involved in the wholesale market.
 Once
you know who your customer base is
then you must decide how you will market
your product to the buyer.



Advertise
Sales Pitch
Customer Satisfaction
 On
a sheet of paper name a product or
service with which you are familiar.
 Analyze its rate of adoption by consumers.
 Describe which product/service
characteristics have contributed to its
adoption.
 On


the same sheet of paper
Page 197 answer questions 1-8 in complete
sentences
Page 197-198 match the correct term to the
definition, write the letter, term and the
definition.