TOPIC 2 Business Buying Behavior

TOPIC 2Business Buying Behavior

Course Learning Outcomes (CLO) : CLO 1 : Describe Business Marketing, Business Buying Behaviour And Business Marketing Mix In Planning Marketing Strategy. (C2)

2.1 THE BUYING OBJECTIVES FOR BUSINESS MARKETING

INTRODUCTION • For developing effective marketing strategy, BUSINESS marketers need to understand not only the nature of business buying but also the BUSINESS buying behavior. • The buying objectives for business marketing :i) Delivery / Availability ii) Product Quality iii) Lowest Price iv) Services v) Supplier Relationship vi) Personal objectives

The buying objectives for business marketing The purchase/materials management objective is defined as buying the right items in the right quantity, at the right price, for delivery at the time and place. It is the management’s problem to define what is ‘right’ for each dimension. The objective of purchasing function are briefly stated as follow :

PURCHASING OBJECTIVES

2.2 THE phases in buying decision process

Robinson, Faris and Wind develpoedeight phases of buying decision process in industrial market in 1967 and called the process Buyphases.

PHASES IN BUYING DECISION PROCESS Buying is an organisational- decision making process. There are eight phases or stages in the buying decision process, indicating the logical sequence of activities.

Table : 3.1

Fig : 3.1

Fig : 3.2

TYPES OF PURCHASES OR BUYING SITUATIONS There are three common types of buying situations, called buyclasses;

THE ROLES OF BUYING CENTRE users buyers Initiators gatekeepers influencers deciders

TOPIC 2 Business Buying Behavior