Marketing

Question Consumer Market A consumer market is characterized by products and services that are tailored to meet consumers’ requirement. Business Market
A business market is one that deals with selling products and services to other businesses, governments and intermediaries who will then sell them to the final consumer
Question 2
Domestic Marketing:
Domestic marketing depicts marketing activities that are limited to governmental boundaries of a country. Companies that in engage in this type of business only target selling their products within the country.
International Marketing:
International marketing is marketing carried out across international borders. International marketing involves the use of extensions from the home country of a company.
Differences between International Marketing and Domestic Marketing:
i. Barriers – International trade is characterized by tax and non tax barriers, while domestic markets have no such restrictions.
ii. Currencies – International marketing revolves around exchange of different currencies, while domestic marketing revolves around the same currency.
iii. Government Interference – In international marketing exchange takes place under government regulations, while in domestic marketing government interference is minimal.
Modes of Entry into International Markets:
A mode of entry is what is also referring to as the channel that organizations use to gain access to the international market. They are a number of key alternatives when an organization is considering entering international markets such as:
I. The Internet:
The e-Marketing consists of internet companies that have developed right along with the internet, and also including pre-existing companies that now utilize e-Marketing approaches as part of their general marketing plan.
II. Exporting:
Direct exporting does not include a third-party. Organizations make an obligation to promote its goods and services overseas on its own behalf. This allows the organization to have greater control over its brand
III. International Agents and International Distributors:
Agents are individuals or organizations that are hired by a business; their main duty is to market on behalf of the business in particular countries.
Question 3
Consumer Behavior:
Consumer behavior entails the study of individuals, groups as well as organizations and the process they would normally use to choose, protect and order products and services (Wright. R. 101-155).
A usual business customer will go through the following steps:
i. Identifying a need- This is highlighted by media coverage as well as advertising that the consumer has seen.
ii. Developing product specification- Consumers tend to use whatever sources available to aid in the search of what they may need.
iii. Search for products and suppliers- This is whereby consumers are open for visits from sales representatives as well as exhibitions and technical information.
iv. Evaluation of products and services- This would be an opportune time to provide ones potential clientele with demonstration of the products by visiting the customer.
v. Ready to place an order- This occurs when personal contact is made between the consumer and service provider.
Reference
Wright. Richard . Consumer Behaviour: London: Cengage Learning EMEA, 2006. Print.