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Business Markets
and Business
Buyer Behavior
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Business
Buyer Behavior
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Business
Buyer Behavior
Learning Objectives
Objective 1: Define the business market
and explain how business markets differ
from consumer markets.
Objective 2: Identify the major factors that
influence business buyer behavior.
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Business
Buyer Behavior
Learning Objectives
Objective 3: List and define the steps in the
business buying decision process.
Objective 4: Compare the institutional and
government markets and explain how
institutional and government buyers make
their buying decisions.
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Business
Buyer Behavior
Business buyer behavior refers to the
buying behavior of the organizations that
buy goods and services for use in the
production of other products and services
that are sold, rented, or supplied to others.
The business buying process is the
process where business buyers determine
which products and services are needed to
purchase, and then find, evaluate, and
choose among
alternative
brands.
Copyright
2016 Pearson Education,
Inc.
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Business
Buyer Behavior
Learning Objective 1
Define the business market and explain how
business markets differ from consumer
markets.
Business Markets
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Business Markets
Market Structure and Demand
Fewer but larger
buyers
Derived demand
Inelastic demand
Fluctuating demand
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Business Markets
Nature of the Buying Unit
Business buyers usually face more complex
buying decisions than do consumer buyers.
Compared with consumer purchases, a
business purchase usually involves:
More decision participants
More professional purchasing effort
More buyer and seller interaction
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Business Markets
Decision Process
Supplier development is the
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 them to
others.
Copyright 2016 Pearson Education,
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Business
Buyer Behavior
Learning Objective 1
Define the business market and explain how
business markets differ from consumer
markets.
Business Markets
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Business
Buyer Behavior
Learning Objective 2
Identify the major factors that influence
business buyer behavior.
Business Buyer Behavior
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FIGURE | 6.1
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Systems
selling is
buying a
complete
solution to a
problem from a
single seller.
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Business
Buyer Behavior
Learning Objective 2
Identify the major factors that influence
business buyer behavior.
Business Buyer Behavior
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Business
Buyer Behavior
Learning Objective 3
List and define the steps in the business
buying decision process.
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Purchasing
Online
purchasing
Company-buying
sites
Extranets
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Business
Buyer Behavior
Learning Objective 3
List and define the steps in the business
buying decision process.
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Business
Buyer Behavior
Learning Objective 4
Compare the institutional and government
markets and explain how institutional and
government buyers make their buying
decisions.
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Government Markets
Institutional markets consist of schools,
hospitals, nursing homes, and prisons
that provide goods and services to
people in their care.
Characteristics
Low budgets
Captive patrons
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Government Markets
Government markets tend to favor
domestic suppliers, require them to submit
bids, and normally award the contract to
the lowest bidder.
Affected by environmental factors
Non-economic factors considered
Minority firms
Depressed firms
Small businesses
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Business
Buyer Behavior
Learning Objective 4
Compare the institutional and government
markets and explain how institutional and
government buyers make their buying
decisions.
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Principles of Marketing
PowerPoint Copyright Page
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