Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
17th Edition
ISBN: 9781337493819
Author: BOONE, Louis E., Kurtz, David L.
Publisher: Cengage Learning
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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.
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As we know, several global retailers target densely populated regions such as China or India as they represent emerging markets and great potential for maximum profits. As many have stated in this discussion, these retailers tend to exploit workers in these regions by utilizing the nation's lax labor laws, health and safety standards, as well as their lack of rights within the region.
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Chapter 7 Solutions
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