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. ...
