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Chapter 7

MKT 504- Chapter 7

8 Pages
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Department
Marketing
Course Code
MKT 504
Professor
Roy Morley

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CHAPTER 8: The Buying Process and Buyer Behaviour Developing a Customer Strategy: ­The greatest challenge to salespeople in the age of information is to improve  responsiveness to customers Customer Strategy: a carefully conceived plan that will result in maximum customer  responsiveness ­Need an understanding of the customer’s buying needs and motives Want to develop repeat business should figure out a way to collect and systematize  customer information: 1)Understand the buying process 2)Understand customer behaviour 3)Develop a strong prospect base  Strategic/Consultative Selling Model:     ­Today, one of the greatest challenges to salespeople is to improve responsiveness to  customers ­A well­developed customer strategy is designed to meet this challenge Consumer Versus Business Buyers:   Consumer Buyer Behaviour: buying behaviour of individuals and households who buy  goods and services for personal consumption ­Treat different customers differently Business Buyer Behaviour: buying behaviour of organizations that buy goods and  services for use in the production of other products and services or for the purpose of  reselling or renting them to others at a profit Buying Centre: a cross­functional team of decision makers who often represent several  departments  Types of Business Buying Situations  :   New­Task Buy: a first­time purchase of a product or service ­Rely on consultative selling skills Straight Rebuy: a routine purchase of previously purchased goods or services ­Simplify the buying process ­Constantly monitor every situation to be sure customer is completely satisfied Modified Rebuy: purchasing when the buyer wants to reconsider product specifications,  prices, or suppliers ­Provide outstanding service after the sale and anticipate changes in customer needs Systems Selling: Building Strategic Alliances ­Type of selling that appeals to buyers who prefer a packaged solution to a problem from  a single seller, thereby avoiding the series of separate decisions sometimes involved in a  complex buying situation Types of Consumer Buying Situations: Amount of time consumers devote to a buying situation can vary greatly depending on: ­Cost of the product ­Familiarity with the product ­The importance of the item to the consumer 1)Habitual Buying Decision –requires very little involvement and in which brand  differences are usually insignificant 2)Variety­Seeking Buying Decision –motivated by the desire for variety rather than  product dissatisfaction 3)Complex Buying Decision – an often lengthy consumer buying decision characterized  by a high degree of involvement  Achieving Alignment with the Customer’s Buying Process:     Buying Process: the stages a buyer goes through when making a buying decision ­Systematic series of actions, or a series of defined, repeatable steps, intended to achieve  a result ­Understanding each individual buyer’s decision­making process is central to success in  personal selling  Steps in the Typical Buying Process:     ­Consumers who make habitual buying decisions often skip or reverse some of the stages Steps: 1. Need Awareness – help determine magnitude of problem and identify solution 2. Evaluation of Solutions – provide useful information that helps with informed choice 3. Resolution of Problems – high quality proposal; information to help them achieve  their objectives 4. Purchase – hassle­free process and be your customer’s advocate 5. Implementation – quality monitoring of delivery through invoice, and follow­up to  ensure satisfaction It is important for salespeople to: 1. Understand the customer’s unique buying process 2. See where the customer is in that buying process 3. Align the sales process to satisfy the customer’s needs Transactional Process Buyer: ­Buyers are well aware of their needs ­Become frustrated with salespeople who use needs assessment, problem solving, or  relationship building ­Add value:  ­Facilitate a convenient and hassle­free purchase  Consultative Process Buyer   : ­Lack needs awareness or need help evaluating possible solutions ­Can be complex and/or expensive ­Add value: ­Conduct a systematic assessment of situation ­Help customer evaluate solutions ­Help resolve any problems that surface prior to and post­purchase  Strategic Alliance Process Buyer:      ­Requires a carefu
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