MGMA01H3 Chapter Notes -E-Procurement, Extranet, Ageism
Document Summary
Ch 7: business markets and business buyer behaviour. Business buyer behaviour- the buying behaviour of the organizations that buy goods and services for use in the production of other products and services or to resell or rent to others at a profit: retailing and wholesaling. 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. Differences between business markets and consumer markets: market structure and demand. Business markets contain fewer but larger buyers. Business buyer demand is derived from final consumer demand. Demand in many business markets is more inelastic- not affected as much in the short run by price changes. Demand in business markets fluctuates more, and more quickly: nature of buying unit. Business buying involves a more professional purchasing effort: types of decisions and the decision process. Business buyers usually face more complex buying decisions.
