Management and Organizational Studies 2320A/B Chapter Notes - Chapter 7: E-Procurement, Extranet

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

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 and services or to resell or rent to others at a profit. 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. (business-to-business (b2b) marketers: business markets. Involve far more dollars and items than do consumer markets. Business markets contain fewer but larger buyers. Business buyer demand is derived from the final consumer: marketing efforts often directed towards final consumer. Demand in many business markets is more inelastic (not affected by short run price changes) Demand fluctuates more and more quickly: small percentage increase in consumer (10%) can cause huge rise in business demand (200%) Business buying involves a more professional purchasing effort: committees made up of experts used in decisions.