¶ … buyers behave differently and marketing or selling a product to either of the types of the buyers differs. Thus having an understanding of the behavior of buyers is important for the producers. There are two fundamental types of buyers, the organizational buyers and the consumers. The organizational buyers include industrial, wholesalers, retailers and government agencies. They purchase goods or services for their own use or for resale. It is easier to market and sell to the consumers rather than the organizational buyer. The size of the order given by an organizational buyer is larger as compared to consumer buying, their buying objectives duffer and it is difficult to keep the buyer-seller relationship stable. Any mishap in the relationship and the producer can lose a large order. However in consumer buying the mishap would involve a small number of individuals. Moreover in consumer buying not many individuals are involved as compared to the organizational buying. With organizational buying the process is more formal and a large number of individuals need to be convinced. Further there is a post purchase evaluation behavior which is based on the performance of the item as well as the supplier. The organizational buyer will consult and check the item in extensive detail before they would purchase. This does not exist in consumer buying. Although the purchase orders are larger in organizational buying, marketing and selling to the organizational buyer is more difficult as compared to the consumer.
ANSWER 2
Customer satisfaction is accomplished when the customer is satisfied with the product that he purchases. He should find it to be as it was advertised to be. If the product is not up to the mark like how it was advertised then that would cause...
Moreover giving efficient product support is also part of customer satisfaction. The organization should efficiently handle any complaints or any angry customers appropriately.
The total company effort is the work that the company puts in to produce a product, market it, sell it and customer satisfaction. Every part of the company is important and the total effort would be from the very first step to the last. The motivation of the workers would cause a higher tilt towards efficiency thus increasing the total effort.
Profit is dependant on a couple of factors. The quality of the product will be an important factor in determining the sales and hence the profit. Moreover, the marketing of the product must be right otherwise the profit would be less than what could be achieved by proper marketing tactics. The product made by a company should be cheap yet of high quality. In simple terms, profit is the amount of profit received as compared to the amount invested. There are a lot of types of profit that include gross profit, net profit, operating profit etc. Although they types do differ the basic definition is the same which means that the inflow of revenue is greater than the outflow.
ANSWER 3
The marketing concept relies on knowing what the customer wants. The organization then evaluates whether it can produce that particular product. Moreover it also evaluates whether it can produce enough of it. If an organization finds that it cannot produce enough of it or produce it at all then it is pointless for it to try to enter the market as it will face failure. It is also important for an organization to realize the importance of customer satisfaction in relation to the long-term profit. A…
