Organizational buying behavior refers to the process by which organizations identify needs, evaluate options, and select products and services to purchase. It involves fewer but larger buyers than consumer markets. Close relationships are important as business customers have more power and demand customization. Business demand fluctuates more than consumer demand and is influenced by consumer demand for end products. Professional buyers evaluate options within their organization's constraints.
Organizational buying behavior refers to the process by which organizations identify needs, evaluate options, and select products and services to purchase. It involves fewer but larger buyers than consumer markets. Close relationships are important as business customers have more power and demand customization. Business demand fluctuates more than consumer demand and is influenced by consumer demand for end products. Professional buyers evaluate options within their organization's constraints.
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Organizational buying behavior refers to the process by which organizations identify needs, evaluate options, and select products and services to purchase. It involves fewer but larger buyers than consumer markets. Close relationships are important as business customers have more power and demand customization. Business demand fluctuates more than consumer demand and is influenced by consumer demand for end products. Professional buyers evaluate options within their organization's constraints.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPT, PDF, TXT or read online from Scribd
formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers. BUSINESS MARKET
It is the organization which purchases
goods and services to further produce products or services which can be sold. CHARACTERISTIC
Fewer, larger buyers: The business marketer deals with
fewer ,but larger buyers than the consumer marketer does. Close supplier-customer relationships : Because of small customer base and power of large customers there is frequent customization of their offerings . Inelastic demand : the demand is not much affected by price changes in many business goods and services. Fluctuating demand : the demand of business goods tends to be more volatile when compared to consumer goods. Professional purchasing : Goods are normally purchased by trained purchasing agents who must understand constraints and requirements. . Derived demand : The demand for business goods is derived from the demand of consumer goods.For this reason the business marketer must closely monitor the buying patterns. . Multiple sales calls : Involvement of more players leads to multiple sales calls to win most business orders.
Chapter 6: Business Markets and Business Buyer Behavior The Business Market - It Also Includes Retailing and Wholesaling Firms That Acquire Goods For The Purpose