Management and Organizational Studies 2320A/B Study Guide - Final Guide: Monopolistic Competition, Internal Communications, Podcast

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Chris Torrence

Document Summary

Chapter 7 business markets and business buyer behavior. Business buyer behavior: the buying behavior 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. Market structure demand: far fewer but far larger buyers than consumer marketers, derived demand: business demand that ultimately comes from the demand for consumer good. Nature of the buying unit: compared to consumer purchases, b2b involves more decision participants and a more professional purchasing effort. Buying centre: all the individuals and units that play a role in the purchase decision-making process. Major influences on business buyers: environmental factors, organizational factors. The buying process: problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, performance review. Eprocurement: purchasing through electronic connections between buyers and sellers, usually online. Chapter 9 products services and brands: building customer value.