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Business-to-Business Markets

06. Business-to-Business Markets. Definition. Business Buyer Behavior: The buying behavior of organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit. Business Markets.

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Business-to-Business Markets

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  1. 06 Business-to-BusinessMarkets

  2. Definition • Business Buyer Behavior: • The buying behavior of organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit.

  3. Business Markets • Characteristics of Business Markets • Sales in the business market far exceed sales in consumer markets.

  4. Marketing Structure and Demand Nature of the Buying Unit Types of Decisions and the Decision Process Compared to consumer markets: Business markets have fewer but larger customers Business customers are concentrated geographically Demand is different Derived demand Price inelastic Fluctuates more, and changes more quickly Business Markets Characteristics

  5. Marketing Structure and Demand Nature of the Buying Unit Types of Decisions and the Decision Process Compared to consumer purchases: Business purchases involve more buyers in the decision process. Purchasing efforts are undertaken by professional buyers. Business Markets Characteristics

  6. Marketing Structure and Demand Nature of the Buying Unit Types of Decisions and the Decision Process In comparison to consumer purchases: Business buyers face more complex buying decisions. The buying process is more formalized. Buyers and sellers work together closely and build long-term relationships. Business Markets Characteristics

  7. Model of Business Buyer Behavior

  8. Business Buyer Behavior • Major Types of Buying Situations • Straight rebuy • Reordering without modification • Modified rebuy • Requires modification to prior purchase • New task • First time purchase

  9. Business Buyer Behavior Participants in the Buying Decision Process Users Buyers Influencers Deciders Gatekeepers

  10. BuyingCenters INFLUENCER DECIDER BUYER USER GATEKEEPER

  11. Major Influences on Business Buyer Behavior

  12. Stages of the Business Buying Process

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