Identify the four major categories of business market customers. Producer markets consist of for-profit organizations and individuals that buy products to use in producing other products, as components of other products, or in facilitating business operations. Reseller markets consist of wholesalers and retailers that buy finished products to resell for profit. Government markets include federal, state, county, and city governments that buy goods and services to support their own operations and serve the needs of citizens. Institutional markets consist of very diverse nonbusiness institutions whose main goals do not include profit.
1. Understanding businesses is key to business marketing. Publications like Manufacturing Automation, Computer Weekly, Power Generation Technology & Markets, and Biotech Equipment Update can give you insights into many business marketing concepts. Research the industrial publications to find an article on a business marketer that interests you. Write a description of the company using as many concepts from the chapter as possible. What major category or categories of business market customers does this firm serve?
2. What do you have to do to get a government contract? Check out the Web sites www.fedbizopps.gov and www.governmentbids.com to find out. Does it seem worth the effort.