MGMA01H3 Chapter 7: Good notes! Chapter 7
Document Summary
Chapter 7 business markets and business buyer behaviour: Business buyer behaviour the buying behaviour of the organization that buy goods and service for use in the product of other products and services or to resell or rent to other at a profit. Business buying process the decision process by which buyer determine which product and service their organization need to purchase, and then find and evaluate, and choose among alternative supplier and brands. Deals with far fewer but far larger buyer than the consumer market does. Derived demand business that ultimately come from (derives from) the demand for consumer goods. Many business have inelastic demand, total demand for many business products is not affected much by price changes, especially in the short run. A small percentage increase in in consumer demand can cause a large increase in business demand. Business purchase involves more decision participants an more professional purchasing effort. Well trained buyers to deal with such transaction.
