Analyzing Business Markets

The business market consists of all the organisations that acquire goods and services used in the production of other products or services that are sold or supplied to others.

The business market aspect for Kissan Jam would come in terms of it’s suppliers of raw materials for manufacturing.

When deciding on which suppliers to choose, a number of factors should be considered:

1)Competence: Keeping promises and performance delivery

2)Continuity: The continued existence of the supplier becomes important for future transactions.

3)Integrity: Fair dealing

4) Number of suppliers: Overdependence on one supplier can be a problem,therefore a company should have a good number of suppliers.

The major difference when dealing with businesses rather than consumers are:

• -       Formal organisation
• -       Purchase decision process
• -       Consensually agreed needs
• -       Quantifiable results
• -       Periodic insights
• -       High level of importance to integrity,competence and continuity of the business.