Marketing Essentials 2012

Chapter 23: Purchasing

eMarketing Feature

Meta Markets
A Meta Market is a special market found on the Web that caters to a specific event or industry. Complementary products are included in the Meta Market. A Meta market can be established for business-to-consumer (B2C) and for business-to-business (B2B). Meta markets create a one-stop shopping for consumers. For example, there could be a Meta Market for anglers that include businesses that sell boats, fishing poles, line, reels, and other equipment and accessories. B2B Meta Markets generally center around an industry, such as the chemical industry or auto industry. B2B companies can get rid of excess inventory by trading items with other vendors and can easily attract new buyers who visit a Meta Market.

Innovate and Create
Have students assume they are wedding planners or event planners for businesses. They must put together all the details for an upcoming event. For a wedding the details may include but not be limited to: purchasing flowers, wedding invitations, favors, and a wedding cake, as well as finding the right venue, DJ, and caterer. For a business conference the details may include: catering breakfast and lunch, finding a site for meetings and dinner parties, ordering audio-visual equipment, arranging travel plans for participants, and organizing activities for the spouses of the conference attendees. After students conduct all the research for one of the above events, have them create a Meta Market Website for other event planners to use in order to make their job easier. What complementary vendors would they include in their Meta Market for Event Planners?

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