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II.
High Involvement Product: Always the price of the product will be high
and consumer cannot easily purchase the products. It needs to collect
many information. Such as motor, Car etc.
Low Involvement Product: Price of the products will be always low and
customer can easily buy these products. There is available information to
the customers about the products. Such as Rice, paddy etc.
Derived Demand
A term used in economic analysis that describes the demand placed on
one good or service as a result of changes in the price for some other
related good or service. It is a demand for some physical or intangible
thing where a market exists for both related goods and services in
question. The derived demand can have a significant impact on the
derived good's market price.
The indirect demand for something that has value based on other goods
that can be derived or made from it, such as raw materials or other inputs
to a process of production. Derived demand for a material is driven by
changes in demand for the end product whose creation or production
requires that material.
1. Demand for a basic good (wanted not for its own sake but for the goods
derived from it) such as textiles, that is due to its use in the production of
another good such as apparels.
2. Demand for an input to a production process, dependent on the output
of a final or finished product. These inputs include factors of production
(capital, labor, land), raw materials, or intermediate (semi-finished) goods.
Industrial Marketing
Consumer Marketing
Geographically
Geographically
concentrated
Relatively
Fewer Buyers
Oligopolistic Competition
(A
market
condition
in
Dispersed
Mass Markets, Many
Buyers
Monopolistic
Competition
of
them
will
measurable
impact on competitors.)
Can
be
technically
complex
Customized
to
preference
Service,
delivery
user
Standardized
Service, delivery and
availability
and
only
somewhat important
Purchased
for
personal use
personal use
price
items
promotion Emphasis on personal selling
Emphasis on advertising
Distributi
on
Customer
market
long term relationship
Relation
Consumer
short time
high involvement with many Low
involvement
Decision
members
Making
Process
individual
and