MKT 6 Business Markets and Business Buying Behavior

  1. Business Buyer behavior
    the buying behavior of organizations that buy goods and services for use in the production of other products and services that are solid, rented, or supplied to others
  2. Business buying process
    the decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands
  3. Derived Demand
    business demand that ultimately comes from the demand for consumer goods
  4. Compared with consumer purchases, a business purchase usually involves more decision participants and a more professional purchasing effort
  5. Supplier development
    systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials for use in making products or reselling to others
  6. Within the organization, buying activity consists of two major parts
    buying center, and the buying decision process
  7. Three major types of buying situations
    • Straight rebuy
    • Modified rebut
    • new task
  8. Straight rebuy
    a business buying situation in which the buyer routinely reorders something without any modifications
  9. Modified rebuy
    A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers
  10. New task
    A business buying situation in which the buyer purchases a product or service the first time
  11. Systems selling
    buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation
  12. Buying Center
    all the individuals and units that play a role in the purchase decision making process
  13. What are the five roles of the buying center
    • Users
    • influencers
    • buyers
    • deciders
    • gatekeepers
  14. Users
    • part of the buying center
    • Members of the buying organizations who will actually use the purchased product or service
  15. Influencers
    • part of the buying center
    • people in an organization's buying center who affect the buying decision
  16. Buyers
    • Part of the buying center
    • people in an organization's buying center who make an actual purchase
  17. Deciders
    People in an organization's buying center who have formal or informal power to select or approve the final suppliers
  18. Gatekeepers
    People in an organization's buying center who control the flow of information to others
Author
jo73
ID
324236
Card Set
MKT 6 Business Markets and Business Buying Behavior
Description
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Updated