Armstrongmai12in Conversion Gate

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Copyright 2015 Pearson Education, Inc.

Learning Objectives

Understand the consumer marketand the major factors that inuenceconsumer buyer behavior.

Identify and discuss the stages inthe buyer decision process.

Describe the adoption and diusionprocess for new products.

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Learning Objectives

Dene the business market andidentify the major factors thatinuence business buyer behavior.

List and dene the steps in thebusiness buying decision process.

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!irst "top# $o%ro# &e a 'ero(

) *eason for success+,echno-ogydriven cameras with aordab-e priceranges

/ssentia- steps in customers0storyte--ing and emotionsharing

journeys

1ey to success+Understandingcustomer needs and motivations

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2onsumer 3arkets and2onsumer &uyer &ehavior

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!igure 4.5 3ode- of&uyer &ehavior

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gure . ac orsInuencing 2onsumer

&ehavior

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2u-tura- !actors

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"ocia- !actors

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%ersona- !actors

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%sycho-ogica- !actors

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!igure 4.4 &uyer Decision%rocess

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"tages in the 7doption%rocess

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!igure 4.8 7dopter 2ategories&ased on *e-ative ,ime of7doption of Innovations

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2haracteristics Inuencing anInnovation0s *ate of 7doption

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&usiness &uyer &ehavior

&uying behavior of organi9ations

%urchased goods and services are used in theproduction of other products and services

that are so-d: rented: or supp-ied to others. Business buying process# Determining

which products and services anorgani9ation needs to purchase

!inding: eva-uating: and choosing amonga-ternative supp-iers and brands

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&usiness 3arkets

&usiness markets are huge andinvo-ve more money and items thanconsumer markets.

Dier from consumer markets interms of#

3arket structure and demand

;ature of the buying unit

,ypes of decisions and the decisionprocess

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3arket "tructure and Demandand ;ature of the &uying Unit

3arket structure and demand

!ewer but -arger buyers

Derived demand# &usiness demand

that comes from the demand forconsumer goods

Ine-astic and uctuating demand

;ature of the buying unit 3ore decision participants

3ore professiona- purchasing eort

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,ypes of Decisions

&usiness purchases

3ore comp-e< buying decisions

Large sums of money

2omp-e< technica- and economicconsiderations

Interactions among peop-e at many

-eve-s of the buyer0s organi9ation

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Decision %rocess

&uying processes

Longer and more forma-i9ed procedures

&uyer and se--er more dependent on

each other

Supplier development# "ystematicdeve-opment of networks of supp-ier

partners ,o ensure a dependab-e supp-y of

products and materia-s

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!igure 4.= 7 3ode- of&usiness &uying &ehavior

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,ypes of &uying "ituations

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%articipants in the&usiness &uying %rocess

Buying center# 7-- the individua-s andunits that p-ay a ro-e in the purchasedecisionmaking process

7ctua- users of the product or service %eop-e who make the buying decision

%eop-e and units inuencing the buyingdecision

%eop-e who do the actua- buying

Individua-s and units contro--ing the buyinginformation

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!igure 4.> 3ajor Inuences on&usiness &uying &ehavior

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!igure 4.? "tages of&usiness &uying &ehavior

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/%rocurement

%urchasing through e-ectronicconnections between buyers andse--ers+usua--y on-ine

/procurement occurs through#

*everse auctions

On-ine trading e


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&enets and %rob-emsof /%rocurement

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Learning Objectives

Dene the business market andidentify the major factors thatinuence business buyer behavior.

List and dene the steps in thebusiness buying decision process.

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Armstrongmai12in Conversion Gate