Contemporary Marketing (MindTap Course List)
17th Edition
ISBN: 9781305075368
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
thumb_up100%
Chapter 7, Problem 1ALR
Summary Introduction
To determine: The largest segment of the business market. The role played by internet in B2B market and the role played by resellers in B2B market.
B2B refers to the process of selling goods and service to the other business rather than to public. It is also known as business to business marketing or industrial marketing.
Expert Solution & Answer
Explanation of Solution
Commercial market is said to be the largest segment of the business market. This market includes all firms and individuals that attain products to support, indirectly or directly, manufacturing of goods and services.
Internet plays the major role in business to business marketing. More than 91 percent of all the sales transactions on internet are based on business to business transactions. The marketers have set private portals that allows their customers to purchase the products. Virtual marketplace and online auction allows vendors and buyers to connect with one another over the internet.
Resellers are the intermediaries in transfering goods to the final customers such as retailers and wholesalers. They operate in trade industry sector which is the second largest segment of the organizational market. It includes products such as appliances, automobile parts, and clothing.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Respond to G.H.
Good Evening Professor and Classmates,
Hairitage Shampoo, founded by YouTube influencer Mindy McKnight, offers a range of hair care products that are vegan, cruelty-free, and formulated with natural ingredients. (Quinn, 2024) The brand's competitive advantage lies in its differentiation through personalized solutions for various hair types and its strong brand identity built by McKnight's YouTube channel, Cute Girls Hairstyles.
To sustain this competitive advantage, Hairitage should continue to innovate its product line, maintain high product quality, and leverage Mindy McKnight's influence for marketing. (Hairitage Shampoo Good For Hair? Reviews, Ingredients And More!, 2024) Additionally, expanding its distribution channels and engaging with customers through social media can help reinforce brand loyalty.
Barriers to entry for competitors include the high costs of product development and marketing, establishing a strong brand identity, and navigating regulatory…
The product I chose and use daily is cetaphil. Cetaphil's scientific research, marketing, and customer-focused products give it a competitive edge in the skincare sector. However, some of Cetaphil's advantages can be copied by rivals, therefore in order to keep a competitive edge, Cetaphil could need to create exclusive resources. Strong brand recognition and customer loyalty developed over time, a reputation for gentle and effective skincare, established distribution channels, a diverse product range catering to different skin types, and the need to navigate stringent regulatory requirements within the cosmetics industry are some of the main obstacles facing competitors attempting to enter Cetaphil's market or gain a competitive advantage. In other words, breaking through the perception of Cetaphil as a dependable, trustworthy brand for sensitive skin could be a significant challenge for new entrants.
Respond to this posts with what value is provided to customers from your…
Using the information provided and Identify Converse as a brand, mention the products regularly used, and analyze their marketing strategy in a general sense. comprehend and examine the brand's use of social media, focusing on how this has been advantageous in achieving positive results and fostering user loyalty over time. Also, consider other communication channels and social media platforms besides Instagram that Converse employs to establish its market presence.
Also, answering these questions
How does the brand use social media for different promotions you have found?
How does the brand attract customers
What kind of customer service does the brand offer on it’s social media platforms?
How could social media be used for research and sales purposes?
How does the brands online presence function, and how can it be integrated with traditional marketing?
demonstrate a deep and critical understanding of Converse's digital marketing strategy on social media, evaluating its…
Chapter 7 Solutions
Contemporary Marketing (MindTap Course List)
Knowledge Booster
Similar questions
- Does Doritos chips have a competitive advantage (e.g., cost, differentiation, etc.) compared to other chips brands? If not, what is your recommendation for it to attain a competitive advantage? Is the competitive advantage sustainable because of relevance or defensibility? How would your recommendation lead to a sustainable competitive advantage if you answered "no" to question one? What barriers does the competition face to entering the exact market or gaining a competitive advantage?arrow_forwardDoes Gatorade have a competitive advantage (e.g., cost, differentiation, etc.) compared to other sports drinks? If not, what is your recommendation for it to attain a competitive advantage? Is the competitive advantage sustainable because of relevance or defensibility? How would your recommendation lead to a sustainable competitive advantage if you answered "no" to question one? What barriers does the competition face to entering the exact market or gaining a competitive advantage?arrow_forwardWhat is the main role of Qualitative research methods? How does the Qualitative research methods work on virtual interviews with participants, or analysis of an individual, or organization? How does it relate to media to analyze patterns and themes?arrow_forward
- Marketing Management Spring 25 Previous Activity Test Unit Test Active 1 2 3 4 56789 10 ► Hal joined an online panel for Wigg Software on the Internet. This means he will be asked some questions to see if he qualifies for a study be listed as an employee with the software company have the opportunity to talk with Wigg Software executives possibly be part of a discussion forum, too (Select all that apply.) Mark this and return Save and Exit Next Submit English Nariah Walker Next Activityarrow_forwardImagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo. Identity the primary target market for your shampoo and provide your justification.arrow_forwardSales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Guide Objectives Collector devices Multi Sales promotion techniques What collector devices are permitted as sales promotions vehicles in many European countries (eg) What are the difficulties of using sales promotions across national boundaries Examples of recent sales promotions campaignsarrow_forward
- Sales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Guide Assumptions Economies of scale What they should consider to expand into countries which are not neighbors’ with similar codes of practice. What would give the agency economies of scales with its sales promotion campaign. What could assist in the integration and harmonization of sales promotions techniques.arrow_forwardSales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Student Guide Methods of evaluation Codes of practice How is sales promotions used from market to market What is required to expand sales promotions in new markets What is allowed: knowledge of the voluntary codes and practices The legal codes of practicearrow_forwardThe growth and use of social media for marketing and ways it benefits marketers versus using traditional marketing alone?arrow_forward
- Response to Gwyn Harper I picked fuel as the product purchased through an intermediary. Intermediaries add significant value to the purchase of products like fuel by providing several key services (NewStream Enterprises, 2020). They handle logistics and distribution, ensuring fuel is readily available at gas stations when needed. By purchasing fuel in bulk, intermediaries can negotiate better prices with refineries, passing on some of these savings to consumers. Additionally, they often test and verify the quality of fuel, ensuring it meets industry standards before it reaches consumers. Intermediaries also provide customer support, handling inquiries and resolving issues related to fuel purchases. Furthermore, they engage in marketing and promotion, offering discounts and rewards through promotions or loyalty programs (NewStream Enterprises, 2020). These value-added services enhance the overall purchasing experience and product quality for consumers. Consider the post. Identify one…arrow_forwardRespond to Cee One product I regularly purchase through an intermediary is my smartphone from a retailer rather than directly from the manufacturer. The intermediary adds value in several ways, making the purchasing experience more convenient and beneficial. First, they offer comparative shopping, allowing me to evaluate different brands, models, and pricing in one location. Retailers also provide customer support through in-person assistance, return policies, and warranty services, which might not be as accessible when purchasing directly from the manufacturer. Additionally, intermediaries often offer financing options, trade-in programs, and exclusive promotions, making the product more affordable and accessible. Finally, their role in inventory management and distribution ensures that products are readily available when needed, reducing wait times for customers. These added benefits make purchasing through an intermediary a more seamless and value-driven experience. Consider the…arrow_forwardResponse to G.H. I picked fuel as the product purchased through an intermediary. Intermediaries add significant value to the purchase of products like fuel by providing several key services (NewStream Enterprises, 2020). They handle logistics and distribution, ensuring fuel is readily available at gas stations when needed. By purchasing fuel in bulk, intermediaries can negotiate better prices with refineries, passing on some of these savings to consumers. Additionally, they often test and verify the quality of fuel, ensuring it meets industry standards before it reaches consumers. Intermediaries also provide customer support, handling inquiries and resolving issues related to fuel purchases. Furthermore, they engage in marketing and promotion, offering discounts and rewards through promotions or loyalty programs (NewStream Enterprises, 2020). These value-added services enhance the overall purchasing experience and product quality for consumers. Consider the post. Identify one…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning