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Principles of Marketing: Business Markets and Business Buyer Behavior
Principles of Marketing: Business Markets and Business Buyer Behavior
Principles of Marketing: Business Markets and Business Buyer Behavior
Principles of Marketing
6-2
Chapter Outline
1. Business Markets
2. Business Buyer Behavior
3. Institutional and Government
Markets
6-3
Business Markets
6-4
Business Markets
6-5
Business Markets
6-7
Business Buyer Behavior
Marketing Stimuli
6-9
Business Buyer Behavior
Marketing Stimuli
6-12
Business Buyer Behavior
• Straight rebuy
• Modified rebuy
• New task
6-13
Business Buyer Behavior
Major Types of Buying Situations
6-14
Business Buyer Behavior
6-17
Business Buyer Behavior
• Economic factors
• Personal factors
• Environmental factors
• Organizational factors
• Interpersonal factors
6-19
Business Buyer Behavior
• Service
6-20
Business Buyer Behavior
Major Influences on Business Buyers
Environmental Factors
6-21
Business Buyer Behavior
Organizational factors
• Objectives
• Policies
• Procedures
• Structure
• Systems
6-22
Business Buyer Behavior
Major Influences on Business Buyers
Interpersonal factors
• Motives
• Perceptions
• Preferences
• Age
• Income
• Education
• Attitude toward risk
6-23
Business Buyer Behavior
6-25
Business Buyer Behavior
The Buying Process
6-26
Business Buyer Behavior
6-27
Business Buyer Behavior
The Buying Process
6-28
Business Buyer Behavior
6-29
Business Buyer Behavior
Online purchasing
• Company buying sites
• Extranets
6-30
Business Buyer Behavior
E-Procurement and Buying on the Internet
Advantages
• Access to new suppliers
• Lowers costs
• Speed in order processing and delivery
• Share information
• Sales
• Service and support
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Business Buyer Behavior
Disadvantages
• Can erode relationships as buyers search for
new suppliers
• Security
6-32
Institutional and
Government Markets
6-33
Institutional and
Government Markets
Government markets tend to favor domestic
suppliers and require suppliers to submit bids and
normally award to the lowest bidder
• Carefully monitored
• Affected by similar environmental factors
• Good credit
• Non-economic factors
• Minority suppliers
• Depressed suppliers
• Small businesses
6-34