Business Markets and Business Buying Behavior
Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others.
Business buying process is the process where business buyers determine which products and services are needed to purchase, and then find, evaluate, and choose among alternative brands
Market Structure and Demand
Fewer and larger buyers
Derived demand
Inelastic demand
Fluctuating demand
Buyer and seller dependency
Business Markets Decision Process
More complex
More decision participants
More professional purchasing effort
Supplier development
systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will use in making their own products or resell
The Model of Business Buyer Behavior