KEY CUSTOMER MARKETS

Consider the following key customer markets: consumer,
business, global, and nonprofit.
Consumer Markets Companies selling mass consumer goods and services such as juices,
cosmetics, athletic shoes, and air travel spend a great deal of time establishing a strong brand image
by developing a superior product and packaging, ensuring its availability, and backing it with
engaging communications and reliable service.
Business Markets Companies selling business goods and services often face well-informed
professional buyers skilled at evaluating competitive offerings. Business buyers buy goods to make
or resell a product to others at a profit. Business marketers must demonstrate how their products
will help achieve higher revenue or lower costs. Advertising can play a role, but the sales force, the
price, and the company’s reputation may play a greater one.
Global Markets Companies in the global marketplace must decide which countries to enter;
how to enter each (as an exporter, licenser, joint venture partner, contract manufacturer, or solo
manufacturer); how to adapt product and service features to each country; how to price products
in different countries; and how to design communications for different cultures. They face different
requirements for buying and disposing of property; cultural, language, legal and political
differences; and currency fluctuations. Yet, the payoff can be huge.
Nonprofit and Governmental Markets Companies selling to nonprofit organizations with
limited purchasing power such as churches, universities, charitable organizations, and government
agencies need to price carefully. Lower selling prices affect the features and quality the seller can
build into the offering. Much government purchasing calls for bids, and buyers often focus on
practical solutions and favor the lowest bid in the absence of extenuating factors.