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Business buying behavior

Business buying behavior. Business buying behavior. Business Market: All organizations that buy goods and services for use in production of other products and services that are sold rented or supplied to other. Business buying process:

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Business buying behavior

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  1. Business buying behavior

  2. Business buying behavior • Business Market: All organizations that buy goods and services for use in production of other products and services that are sold rented or supplied to other. • Business buying process: the decision making process by which business buyers establish the need for purchased products and services and identify, evaluate and choose among alternative brands and suppliers

  3. Features of Business markets • Market structure and demand: • Fewer but larger • Geographically concentrated • Demand derived from final consumer demand • Inelastic demand: short run price change • Nature of the buying unit: • Professional purchasing efforts. • Type of decisions and the decision process: • Complex buying decision • Formalized • Close n long term relation

  4. Model of business buyer behavior BUYER RESPONSE -Product or service choice -suppliers choice -order quantities -delivery terms and times -service terms -payment THE BUYING ORGANIZATION • THE ENVIRONMENT • Marketing stimuli: P`s • Other stimuli: • Economic, technological, • Cultural, social, competitive. The buying centre Buying decision process

  5. Types of buying situation • Straight rebuy • Modified rebuy • New task • System buying

  6. Participants in business buying process Buying Centre: • Users • Influencers • Deciders • Gatekeepers

  7. factors • Environmental factors: • Economic developments • Supply conditions • Technological • Political and regulatory • Competitive • Culture and customs • Organizational: • Objectives • Policies • Procedures • Organizational structure • systems

  8. Cont.. • Interpersonal • Authority • Status • Empathy • Persuasiveness • Individual: • Age • Education • Job position • Personality • Risk attitudes

  9. Business buying process • Problem recognition • General need description • Product specification • Suppliers search • Proposal drafting and submission • Supplier selection • Order routine specification • Performance review

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