Development starts with a brief and market research. The design specification is tested and a manufacturing specification is written for production. There also need to be quality-control checks, part of a process called quality assurance.
Foods are developed in a number of stages. They need to be tested and evaluated throughout these stages to ensure they are meeting requirements.
The first stage of food development is the brief, which is the problem that needs to be solved. For example, developing a lasagne for health conscious consumers.
Market research means finding out information about what people want from a product. It includes studying market trends and shopping habits. This can be done by conducting surveys, questionnaires, and telephone interviews. For example, would people buy a low fat lasagne?
The design specification is the first attempt at listing the needs of the product. It includes:
- shelf life
- sensory characteristics (taste, texture, appearance, etc)
- ingredients (with quantities)
Watch this Learning Zone Broadband video about developing a new vegetarian ready meal.
Back to Food technology index
- Length: 1078 words (3.1 double-spaced pages)
- Rating: Excellent
Four basic categories define the business market:
1. The commercial market
2. Trade industries
3. Government organizations
Commercial markets include individuals and firms that acquire goods and services to support, directly or indirectly, production of other goods and services.
When Lufthansa buys aircraft built by the European consortium Airbus Industry, when Sara Lee purchases wheat to mill into flour for an ingredient in its cakes.
Trade industries include retailers or whole sellers that purchase products for resale to others.
Example: retail meat markets may carry out bulk purchases of sides of beef and then cut individual pieces for their customers.
Institutions include a wide range of organizations, such as hospitals, churches, nursing homes, colleges and universities, museums and not-for-profit organizations.
Example: state universities.
Government organizations include domestic units of government- federal, state, and local as well as foreign governments.
Example: national defense or pollution control.
Q2. What are the characteristics of the commercial market? Show how each characteristic affects the marketing strategies of firms serving that market.
The commercial market is the largest segment of the business market. It includes all individuals and firms that acquire goods and services to supports directly or indirectly, production of other goods and services.
Some products aid in producing another good or service. Others are physically used up in the production of a good or service. Still others contribute to the firms day to day operations.
Q3. What are the SIC codes? How do the marketers use these codes?
Standard Industries Classification codes are the US government classification system that subsides the business market place into detailed market segments. Businesses use SIC code data for more then segmentation. These codes also help them to estimate the demand and forecast sales.
Q4. Contrast organizational buying behavior and consumer purchasing behavior. What are the primary differences and similarities?
Business buying behavior takes place with in a formal organization with its budget, costs and profit considerations. The primary differences include excessive organizational steps, considering budget, costs, prioritizing techniques for purchase decision analyses.
Where as, consumer-purchasing behavior includes knowledge of business buying situations and is influenced by peers and ads.
Q5. Give examples of the effect of industrial market demand of derived demand, volatile demand, joint demand, inventory adjustments, and the accelerator principal.
Demand for a business product that results from demand for a consumer product of which it is a component. Example:
The growing global demand by food service firms for packs of Heinz ketchup, mustard, mayo, etc. is all driven by consumer’s appetite for their convenience and joy of dining out.
How to Cite this Page
| Marketing in Business Essay - Marketing is a fundamental aspect of all businesses, whether they are set out to make a profit, or charitable organisations - they will have to carry out marketing research of some description. It has been described as being, “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” (Chartered Institute of Marketing) This essay will explore the role of marketing in a marketing oriented business and different aspects of the external environment that a smartphone company should be aware of.... [tags: Business, Role of Marketing]|
:: 7 Works Cited
|Business to Business Marketing Case Study Essay - Business to Business Marketing Case Study Ask the average case-bred business school student about revolutionary marketers, and you'll most likely hear about Amazon, Dell, and perhaps Saturn—all companies that turned industries on their ears by dumping the conventional business model and taking an entirely different approach. Some might mention IBM or Intel, two companies that transformed their businesses and successfully resuscitated their brands. But there's a new case on the block, one so inspiring it may match the popularity and instructional value found in these other notable examples.... [tags: Business Marketing Analysis]||1986 words|
| Marketing in Today's Business World Essay - We often hear people talk about marketing and some of its functions. But what does the term ‘marketing’ actually mean. Various definitions have been suggested. In 1976, the Chartered Institute of Marketing described marketing as ‘’the management process that identifies, anticipates and satisfies customer requirements profitably’’ (Watkis 2008). This definition suggests that research is vital in determining market necessities. Marketers must be in a position to predict what future consumer needs and wants will be to be in a better position to offer products and services which offer complete customer satisfaction.... [tags: Marketing, Business]|
:: 11 Works Cited
|Essay Business Marketing Report - Business Marketing Report A. Marketing Plan We wish to design a simulator which will allow people of any skill level to learn how to drive in a very safe environment, using real life feel driving simulators. We feel that the current system of Driver's Education could be forever changed. Once this idea has been laid out, the possibilities are virtually endless. We could simply use the devices to create a large-scale Driver's Education company implementing the machines to get people a semi-real feel of driving before they ever sit behind the wheel of a real automobile.... [tags: Business Marketing Analysis Strategy]||793 words|
|Business Marketing Essay - Business Marketing Four basic categories define the business market: 1. The commercial market 2. Trade industries 3. Government organizations 4. Institutions Commercial markets include individuals and firms that acquire goods and services to support, directly or indirectly, production of other goods and services. Example: When Lufthansa buys aircraft built by the European consortium Airbus Industry, when Sara Lee purchases wheat to mill into flour for an ingredient in its cakes. Trade industries include retailers or whole sellers that purchase products for resale to others.... [tags: GCSE Business Marketing Coursework]||1078 words|
|Business Marketing Essay - Marketing has been built around one concept but since technology has become so proficient, then it is safe to say that Marketing has also expanded with the times. Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. (Armstrong & Kotler, 2007, Marketing: An Introduction) Marketing has just begun to tap into the resources that are available to help assist companies to retain customers by providing that key ingredient, promising superiority.... [tags: Business Marketing]||1485 words|
|The Role of Research in Academic and Business Life of Business to Business Marketing - The Role of Research in Academic and Business Life of Business to Business Marketing This assignment will investigate the role of research in the academic and business life of Business to Business Marketing. Somers () defines research as the study of a subject and its sources and investigating these in a systematic manner in order to find new conclusions (Somers, H. not dated). Business to Business (B2B) is a transaction which occurs between two companies, that is to say, the consumer is not involved in the transaction of a company.... [tags: B2B marketing Research Business]||1867 words|
|Essay on Marketing Audit of Agilent Technologies, Inc.’s Microarray Business - Marketing Audit of Agilent Technologies, Inc.’s Microarray Business Organizational Overview – Agilent Technologies Agilent Technologies is a global organization focused on being the premier supplier of test and measurements solutions. The company is largely composed of two main divisions – Electronic Measurement Solutions and Bio-Analytical Measurement Solutions – supported by Agilent Labs, the primary internal innovation driver (Fig. 1). This marketing audit will focus primarily on the DNA microarray business, which is nested within the Life Sciences section of the Bio-Analytical Measurement Solutions division.... [tags: Business Marketing]||1855 words|
|E-business on Marketing strategies Essay - Marketing businesses, products and services has become much more complex with the introduction of the internet. In this paper I will attempt to describe the effect of e-business on marketing strategies today, as well as describe the e-business marketing strategies utilized by Kmart, Inc. The internet is an enormous environment that is advancing and developing at a very erratic pace, and only companies able to adapt will survive. The World Wide Web provides a medium that breaks through geographical boundaries, allows the customer much more control, and has no time restrictions as it is always “open”.... [tags: K-mart business on Internet]||569 words|
|Marketing Essay examples - The importance of marketing: The increase in appointing a Chief Marketing Officer (CMO) shows the importance of marketing for many companies. They are on the same management level as Executive Officers and Chief Financial Officers. Jack Welch, General Electrics former CEO, stated ‘Change or die’ when it comes to surviving in business. What is Marketing. This chapter will take a look back on the fundamental elements of marketing and also what is happening in the 21st century. Definition: ‘marketing is an organisational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organisation and... [tags: Business Marketing]||1613 words|
Business Marketing Nursing Homes Pollution Control Wide Range National Defense Classification System Us Government Purchases
Demand for a business product that depends on the demand for another business product that is necessary for the use of the first.
Coke and iron ore are required to make pig iron. If the coke supply falls, the drop in pig iron will affect the demand for iron ore.
Derived demand creates immense volatility in the business market demand.
Marketers in a particular industry consider a 60-day supply of raw materials to be the optimum inventory level. If economic factors induce these firms to increase there inventories to a 90-day supply. The change will bombard the raw material supplier with new orders.
This disproportionate impact of changes in consumer demand on business market demand is called the accelerator principal.
Q6. What is out sourcing? Explain the advantages and disadvantages of this practice.
Acquiring inputs from outside vendors for goods and services formerly produced in house.
Advantages include of it being an opportunity to deal with cost effective outside suppliers or those with specialized technological expertise.
Disadvantages include the major risks of losing touch with customers.
Q7. Discuss the major influences on organizational purchasing with examples of each.
1. Environmental factors:
Environment conditions such as economical, political, regulatory, competitive, and technological considerations influences organizational buying decisions.
During a recession, sales to cable companies might drop cause households hesitate to spend money on cable services.
2. Organizational factors:
It’s important for marketers to understand customers, or policies and purchasing systems.
Centralized buyers tend to emphasize long-term relationships while decentralized buyers focuses more on short-term results.
3. Interpersonal influences:
Both, groups and individuals, affect buying behavior.
If your friends dress a certain way, you maybe influence to dress the same way.
Q8. Describe the roles in a buying center. Identify the person in an organization who would most likely play each role.
A company’s buying center consists of participants in an organizational buying action.
Users are people who will use the purchased good or service. Their influences may range from negligible to extremely important. People like you and me are users.
Gatekeepers control the information that all buying center members will review. They may exert this control by distributing printed product data or adjustments or by deciding which sales people will speak to which individuals in the buying center.
Influencers affect the buying decision by supplying information to guide buying specifications. Technically personal such as engineers, quality control specialists, architects, etc. are all influencers.
A decider actually chooses a good or service, although a person may have the formal authority to do so. A decider could be a design engineer who develops specifications that only one vendor can meet.
A buyer has formal authority to select a supplier and implement the procedures for securing the good or service.
Q9. In what ways is the government market similar to other organizational markets? How does it differ?
Government markets have contractual guidelines and they’re purchases are influenced by social goals. They buy under two basic types of contracts: a fixed price contract and a price reimbursement contract.
Organizational markets have to deal with segmentation by purchasing situation, geographic factors, size, and number of buyers etc.
Q10. Describe major characteristics of institutional and international markets. How might these characteristics affect marketing strategy?
Institutional markets consist of schools, hospitals, libraries, churches, etc. Governments units may even manage many of them, such as schools and prisons. Other privately managed institutions may implement buying procedures that resemble those of pvt. companies. Group purchasing is an important factor.
To sell successfully in international markets, buyer’s attitudes and cultural patterns must be considered. They must adapt to the local customers of that area. The international markets must also respond to economic conditions, geographic characteristics, legal restrictions, and local industries. It’s important to be aware of these factors otherwise the marketing strategy will fail.