Business Buying Behavior
Read this chapter, which provides an overview of business-to-business buying behavior. This chapter discusses how B2B markets differ from B2C markets, types of B2B buyers, buying centers, and stages of the B2B buying process. The chapter wraps up with a discussion of international B2B markets, e-commerce, and ethics in the B2B market. From this reading, you will learn what a buying center is and will be able to name the members of buying centers and describe their roles. Pay special attention to the concepts of the decision-making unit (DMU) and the purchase process.
Stages in the B2B Buying Process and B2B Buying Situations
Key Takeaway
The
stages in the B2B buying process are as follows: Someone recognizes
that the organization has a need that can be solved by purchasing a good
or service. The need is described and quantified. Qualified suppliers
are searched for, and each qualified supplier is sent a request for
proposal (RFP), which is an invitation to submit a bid to supply the
good or service. The proposals suppliers submit are evaluated, one or
more supplier(s) selected, and an order routine with each is
established. A postpurchase evaluation is later conducted and the
feedback provided to the suppliers. The buying stages an organization
goes through often depend on the buying situation - whether it's a
straight rebuy, new buy, or modified rebuy.