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Lecture fundamentals of marketing - Lecture 10: Business markets and business buying behavior

In this chapter, the following content will be discussed: Business markets, business buyer behavior, the business buying process, e-procurement: buying on the internet, institutional and government markets. | LECTURE 10 Business Markets and Business Buying Behavior Copyright 2012 Pearson Education Inc. 1- 1- 11 Publishing as Prentice Hall Topic Outline Business Markets Business Buyer Behavior The Business Buying Process E-Procurement Buying on the Internet Copyright Institutional and Government Markets 1- 2 2012 Pearson Education Inc. Publishing as Prentice Hall Business Markets Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold rented or supplied to others. Business buying process is the process where business buyers determine which products and services are needed to purchase Copyright 2012 Pearson Education Inc. and Publishing thenHall as Prentice find evaluate and choose among 1- 3 Business Markets Market Structure and Demand Copyright 2012 Pearson Education Inc. 1- 4 Publishing as Prentice Hall Business Markets Decision Process More complex More decision participants More professional purchasing effort Buyer and seller more dependent Copyright 2012 Pearson Education Inc. 1- 5 Publishing as Prentice Hall Business Markets Decision Process Supplier development systematic development of networks of supplier- partners to ensure an appropriate and dependable supply of products and materials that they will use in making their own products or resell Copyright 2012 Pearson Education Inc. 1- 6 Publishing as Prentice Hall Business Buyer Behavior The Model of Business Buyer Behavior Copyright 2012 Pearson Education Inc. 1- 7 Publishing as Prentice Hall Business Buyer Behavior Major Types of Buying Situations Straight rebuy is a routine purchase decision such as reorder without any modification Modified rebuy is a purchase decision that requires some research where the buyer wants to modify the product specification price terms or suppliers New task is a purchase decision that requires thorough research such as a new product Copyright 2012 Pearson Education .