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  • Consumer Markets and Consumer Buyer Behavior

    Загружено:

    Huzaifa Mustafa
    46 просмотров19 страниц
    Chapter Six Business Markets and Business Buying Behavior Business Markets 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. Also included are retailing and wholesaling firms that acquire goods to resell or rent to others for profit. 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 Business Markets Business Markets More decision participants More professional purchasing effort Business Buyer Behavior Straight rebuy is a routine purchase decision such as reorder without any modification Modified rebuy is a purchase decision that requires some research where the buyer wants to modify the product specification, price, terms, or suppliers New task is a purchase decision that requires thorough research such as a new product Major Types of Buying Situations Business Buyer Behavior Systems selling involves the purchase of a packaged solution from a single seller Two-step process of selling: Interlocking products System of production, inventory control, distribution, and other services to meet the buyer’s need for a smooth-running operation Major Types of Buying Situations Business Buyer Behavior Buying center is all of the individuals and units that participate in the business decision-making process Users Influencers Buyers Deciders Gatekeepers Participants in the Business Buying Process Business Buyer Behavior Users are those that will use the product or service Influencers help define specifications and provide information for evaluating alternatives Buyers have formal authority to select the supplier and arrange terms of purchase Deciders have formal or informal power to select and approve final suppliers Gatekeepers control the flow of information Participants in the Business Buying Process Business Buyer Behavior Problem recognition occurs when someone in the company recognizes a problem or need Internal stimuli Need for new product or production equipment External stimuli Idea from a trade show or advertising The Buying Process Business Buyer Behavior General need description describes the characteristics and quantity of the needed item Product specification describes the technical criteria The Buying Process Business Buyer Behavior Supplier search involves compiling a list of qualified suppliers Proposal solicitation is the process of requesting proposals from qualified suppliers The Buying Process Business Buyer Behavior Supplier selection is the process when the buying center creates a list of desired supplier attributes and negotiates with preferred suppliers for favorable terms and conditions Order-routine specifications is the final order with the chosen supplier and lists all of the specifications and terms of the purchase The Buying Process Business Buyer Behavior Performance review involves a critique of supplier performance to the purchase terms The Buying Process Business Buyer Behavior Online purchasing Company-buying sites Extranets E-Procurement Business Buyer Behavior Advantages Access to new suppliers Lowers costs Speeds order processing and delivery Shares information Sales Service and support Disadvantages Can erode relationships as buyers search for new suppliers Security E-Procurement Institutional and Government Markets Institutional markets consist of hospitals, nursing homes, and prisons that provide goods and services to people in their care Characteristics Low budgets “Captive” audience Institutional and Government Markets Government markets tend to favor domestic suppliers and require suppliers to submit bids and normally award to the lowest bidder Carefully monitored

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    Consumer Behaviour 5

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    Chapter Six Business Markets and Business Buying Behavior Business Markets 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. Also included are retailing and wholesaling firms that acquire goods to resell or rent to others for profit. 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 Business Markets Business Markets More decision participants More professional purchasing effort Business Buyer Behavior Straight rebuy is a routine purchase decision such as reorder without any modification Modified rebuy is a purchase decision that requires some research where the buyer wants to modify the product specification, price, terms, or suppliers New task is a purchase decision that requires thorough research such as a new product Major Types of Buying Situations Business Buyer Behavior Systems selling involves the purchase of a packaged solution from a single seller Two-step process of selling: Interlocking products System of production, inventory control, distribution, and other services to meet the buyer’s need for a smooth-running operation Major Types of Buying Situations Business Buyer Behavior Buying center is all of the individuals and units that participate in the business decision-making process Users Influencers Buyers Deciders Gatekeepers Participants in the Business Buying Process Business Buyer Behavior Users are those that will use the product or service Influencers help define specifications and provide information for evaluating alternatives Buyers have formal authority to select the supplier and arrange terms of purchase Deciders have formal or informal power to select and approve final suppliers Gatekeepers control the flow of information Participants in the Business Buying Process Business Buyer Behavior Problem recognition occurs when someone in the company recognizes a problem or need Internal stimuli Need for new product or production equipment External stimuli Idea from a trade show or advertising The Buying Process Business Buyer Behavior General need description describes the characteristics and quantity of the needed item Product specification describes the technical criteria The Buying Process Business Buyer Behavior Supplier search involves compiling a list of qualified suppliers Proposal solicitation is the process of requesting proposals from qualified suppliers The Buying Process Business Buyer Behavior Supplier selection is the process when the buying center creates a list of desired supplier attributes and negotiates with preferred suppliers for favorable terms and conditions Order-routine specifications is the final order with the chosen supplier and lists all of the specifications and terms of the purchase The Buying Process Business Buyer Behavior Performance review involves a critique of supplier performance to the purchase terms The Buying Process Business Buyer Behavior Online purchasing Company-buying sites Extranets E-Procurement Business Buyer Behavior Advantages Access to new suppliers Lowers costs Speeds order processing and delivery Shares information Sales Service and support Disadvantages Can erode relationships as buyers search for new suppliers Security E-Procurement Institutional and Government Markets Institutional markets consist of hospitals, nursing homes, and prisons that provide goods and services to people in their care Characteristics Low budgets “Captive” audience Institutional and Government Markets Government markets tend to favor domestic suppliers and require suppliers to submit bids and normally award to the lowest bidder Carefully monitored

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    46 просмотров19 страниц

    Consumer Markets and Consumer Buyer Behavior

    Загружено:

    Huzaifa Mustafa
    Chapter Six Business Markets and Business Buying Behavior Business Markets 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. Also included are retailing and wholesaling firms that acquire goods to resell or rent to others for profit. 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 Business Markets Business Markets More decision participants More professional purchasing effort Business Buyer Behavior Straight rebuy is a routine purchase decision such as reorder without any modification Modified rebuy is a purchase decision that requires some research where the buyer wants to modify the product specification, price, terms, or suppliers New task is a purchase decision that requires thorough research such as a new product Major Types of Buying Situations Business Buyer Behavior Systems selling involves the purchase of a packaged solution from a single seller Two-step process of selling: Interlocking products System of production, inventory control, distribution, and other services to meet the buyer’s need for a smooth-running operation Major Types of Buying Situations Business Buyer Behavior Buying center is all of the individuals and units that participate in the business decision-making process Users Influencers Buyers Deciders Gatekeepers Participants in the Business Buying Process Business Buyer Behavior Users are those that will use the product or service Influencers help define specifications and provide information for evaluating alternatives Buyers have formal authority to select the supplier and arrange terms of purchase Deciders have formal or informal power to select and approve final suppliers Gatekeepers control the flow of information Participants in the Business Buying Process Business Buyer Behavior Problem recognition occurs when someone in the company recognizes a problem or need Internal stimuli Need for new product or production equipment External stimuli Idea from a trade show or advertising The Buying Process Business Buyer Behavior General need description describes the characteristics and quantity of the needed item Product specification describes the technical criteria The Buying Process Business Buyer Behavior Supplier search involves compiling a list of qualified suppliers Proposal solicitation is the process of requesting proposals from qualified suppliers The Buying Process Business Buyer Behavior Supplier selection is the process when the buying center creates a list of desired supplier attributes and negotiates with preferred suppliers for favorable terms and conditions Order-routine specifications is the final order with the chosen supplier and lists all of the specifications and terms of the purchase The Buying Process Business Buyer Behavior Performance review involves a critique of supplier performance to the purchase terms The Buying Process Business Buyer Behavior Online purchasing Company-buying sites Extranets E-Procurement Business Buyer Behavior Advantages Access to new suppliers Lowers costs Speeds order processing and delivery Shares information Sales Service and support Disadvantages Can erode relationships as buyers search for new suppliers Security E-Procurement Institutional and Government Markets Institutional markets consist of hospitals, nursing homes, and prisons that provide goods and services to people in their care Characteristics Low budgets “Captive” audience Institutional and Government Markets Government markets tend to favor domestic suppliers and require suppliers to submit bids and normally award to the lowest bidder Carefully monitored

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    из 19

    Consumer Markets and

    Consumer Buyer
    Behavior

    Definitions
    Consumer buyer behavior
    refers to the buying behavior
    of final consumers individuals
    and households who buy goods
    and services for personal
    consumption
    All of these final consumers
    combine to make up the
    consumer market
    5-2

    Factors Influencing
    Consumer Behavior

    5-3

    Characteristics Affecting
    Consumer Behavior
    Key Factors
    Cultural
    Social
    Personal
    Psychological

    Culture
    Forms a persons
    wants and behavior
    Subculture
    Groups with shared
    value systems
    Social Class
    Societys divisions
    who share values,
    interests and
    behaviors

    5-4

    Characteristics Affecting
    Consumer Behavior
    Groups

    Key Factors
    Cultural
    Social
    Personal
    Psychological

    Reference
    Aspirational
    Opinion Leaders
    Buzz marketing
    Family
    Many influencers
    Roles and Status

    5-5

    Characteristics Affecting
    Consumer Behavior
    Key Factors
    Cultural
    Social
    Personal
    Psychological

    Age and life cycle


    Occupation
    Economic situation
    Lifestyle
    Activities, interests and
    opinions
    Lifestyle segmentation
    Personality and selfconcept

    5-6

    Characteristics
    Affecting Consumer
    Behavior
    Key Factors
    Cultural
    Social
    Personal
    Psychological

    Motivation

    Needs provide motives


    Motivation research
    Maslows hierarchy of needs

    Perception

    Selective attention, selective


    distortion, selective
    retention

    Learning

    cues, responses and


    reinforcement

    Beliefs and attitudes

    5-7

    Types of Buying Behavior

    5-8

    The Buyer Decision Process

    5-9

    The Buyer Decision


    Process
    Process
    NeedStages
    recognition
    Information search
    Evaluation of alternatives
    Purchase decision
    Postpurchase behavior

    Needs can be triggered


    by:
    Internal stimuli
    Normal needs
    become strong
    enough to drive
    behavior
    External stimuli
    Advertisements
    Friends of friends

    5 - 10

    The Buyer Decision


    Process
    Process
    NeedStages
    recognition
    Information search
    Evaluation of alternatives
    Purchase decision
    Postpurchase behavior

    Consumers exhibit
    heightened attention or
    actively search for
    information.
    Sources of information:
    Personal
    Commercial
    Public
    Experiential
    Word-of-mouth

    5 - 11

    The Buyer Decision


    Process
    Process
    NeedStages
    recognition
    Information search
    Evaluation of alternatives
    Purchase decision
    Postpurchase behavior

    Evaluation procedure
    depends on the consumer
    and the buying situation.
    Most buyers evaluate
    multiple attributes, each of
    which is weighted
    differently.
    At the end of the evaluation
    stage, purchase intentions
    are formed.

    5 - 12

    The Buyer Decision


    Process
    Process
    NeedStages
    recognition
    Information search
    Evaluation of alternatives
    Purchase decision
    Postpurchase behavior

    Two factors intercede


    between purchase
    intentions and the actual
    decision:
    Attitudes of others
    Unexpected situational
    factors

    5 - 13

    The Buyer Decision


    Process
    Process
    NeedStages
    recognition
    Information search
    Evaluation of alternatives
    Purchase decision
    Postpurchase behavior

    Satisfaction is important:
    Delighted consumers
    engage in positive
    word-of-mouth.
    Unhappy customers
    tell on average 11
    other people.
    It costs more to attract
    a new customer than it
    does to retain an
    existing customer.
    Cognitive dissonance is
    common
    5 - 14

    Buyer Decision Process


    for New Products
    New Products
    Good, service or idea that is
    perceived by customers as new.

    Stages in the Adoption Process


    Marketers should help
    consumers move through these
    stages.

    5 - 15

    Buyer Decision Process


    for New Products
    Stages in the Adoption
    Process

    Awareness
    Evaluation

    Interest
    Trial

    Adoption
    5 - 16

    Adopter Categories Based


    on Relative Time of
    Adoption

    5 - 17

    Buyer Decision Process


    for New Products
    Individual Differences in
    Innovativeness
    Consumers can be classified into five
    adopter categories, each of which
    behaves differently toward new
    products.

    Product Characteristics and Adoption


    Five product characteristics influence
    the adoption rate.
    5 - 18

    Buyer Decision Process


    for New Products
    Product Characteristics
    Relative Advantage
    Compatibility

    Complexity
    Divisibility

    Communicability
    5 - 19

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