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Business markets and business buyer behaviour

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This slide is specially design for the learning process of business buyer behavior & how it could be implement for our own business.

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Business markets and business buyer behaviour

  1. 1. Sanjib Kumar Panda
  2. 2. Outline  Define business buyer behaviour.  Business buying model.  Business market.  Business buying process. E-procurement & online shopping.
  3. 3. The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others. Also includes retailing and wholesaling firms that acquire goods for the purpose of reselling or renting them to others at a profit
  4. 4. The decision process by which business buyers determine which products and services their organization needs to be purchase and then find, evaluate and choosing among alternatives suppliers and brands. Business market operate behind the scenes to most consumers. Most of the things you buy involve many sets of business purchases before you ever see them.
  5. 5. Characteristics Compared to consumer markets 1) Market Structure & Demand Business marketer deals with far fewer but far larger buyers than the consumer markets. Business costumers are more geographically concentrated. Demands are different • Demand is derived • Demand is price inelastic • Demand fluctuates more
  6. 6. Characteristics Compared to consumer markets 2) Need of The Buying Unit Involve more buyers in the decision process. More professional purchasing effort. Often business buying is done by trained purchasing agent. Buying committee composed with technical export.
  7. 7. Characteristics Compared to consumer markets 3) Types of Decisions and the Decision Process More complex buying decisions The buying process is more formalized Buyers and sellers work more closely together and build long-term relationships
  8. 8. • A business buying situation in which the buyer purchases a product or services for the first time. • Buying a packaged solution to a problem from a single seller. • A business buying situation in which the buyer wants to modify product specification, price, terms, or supplier. • A business buying situation in which the buyer routinely reorders something without any modification `Major Type Of Business Buyer
  9. 9. Major Influences on Business Buyers Like Consumer buying decisions also business buying decisions are affected by an incredibly complex combination of environmental, interpersonal and individual influences, but with extra layer of organizational factor thrown into the mix.
  10. 10. The Economy Supply Condition Technology Laws & policies Competition Culture & Customs
  11. 11. Business Buying Process Problem Recognition General Need Description Product Specification Supplier Search Proposal Solicitation Supplier Selection Order-routine Specification Performance Review
  12. 12. E-procurement And Online Purchasing Purchasing through electronic connections between buyers and sellers usually online. Now a days online purchasing is standard procedure for most companies.
  13. 13. Benefitsof E-procurement  Access to new suppliers.  Lower purchasing cost.  Quicker order processing.  Quicker delivery.