Sales & Sales Management/Institutional sales
What is the definition of the market for the institutional sales for consumer products and how is the market divided in segments?Market size for each segment?
Larger buyers (such as hotels, hospitals, schools, and universities) who purchase goods and services for use in the production of their own goods or services.
EXAMPLES OF INSTITUTIONS
EACH OF THESE ARE A MARKET SEGMENT
AS THE BUYING DECISIONS ARE DIFFERENT.
organizations promote concepts, ideas or philosophies that they want consumers to associate with their brands.
Institutional promotion begins with influencing employees. It attempts to build organization loyalty through informing, persuading, and reminding employees of the accomplishments the organization has made as it concerns community involvement, positive global impact, and other positive attributes.
Promotions can range from scheduled events to informative publications. Athletic programs use stadium events such as mascot races, autograph signings, and competitive on-field events to show they value the everyday fans and that the institutions promotes family values. Some organizations, such as governments, sell investment opportunities. China issued white papers (Opinions) to help win their Olympic bid for the 2008 games and again in early 2010 to refute claims that it was difficult to conduct business in China.
Commercials are most often used to promote recall. The theory is that the consumer will remember the commercial when they're in a retail store and this will motivate them to buy. In the book, "Media Promotion and Marketing for Broadcasting" Susan Tyler Eastman says these institutional promotion commercials don't generally have a call-to-action, but they tell of a call-to-action important to the consumer that the organization has answered. For example, oil companies run commercials that tell consumers that they are working on strategies to produce cleaner energy.
Institutional advertising tends to be expensive because it doesn't rely on immediate spending from the consumer. It also forces the organization to be accountable for its promises. If the organization fails to live up to the image it has created in the promotions it will lose brand loyalists to its competitors.
AS AN EXAMPLES OF A MARKET SEGMENT
An educational institution is a place where people of different ages gain an education, including preschools, childcare, elementary schools, and universities.
Types of educational institution include the following:
1 Early childhood
4 Further and higher education
5 See also
Elementary school (grade school), primary school
Independent school (UK)
Academy (English school)
Further and higher education
o Career college
o Community college
o Junior college
o Liberal arts college
o Residential college
o Sixth form college
o Technical college or Institute of Technology
o University college
Institute of technology (Polytechnic)
o Corporate university
o International university
o Local university
o Medieval university
o Private university
o Public university
o University of the Third Age
o Urban university
o Vocational university
Specialized schools or institutes of higher education
o Art school, design schools, etc.
o Vocational school
TO STUDY THE MARKET SIZE,
YOU NEED TO STUDY
-a sample of the market segment
-the characteristics of the market segment
-the consumption pattern for the consumer good
-buying decision making