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.
Ethics in B2B Markets
Key Takeaway
Ethics
come into play in almost all business settings. Business-to-business
markets are no different. For example, unlike B2C markets, offering
customers perks is very common in B2B settings. In many foreign
countries, government buyers demand bribes be paid if a company wants to
do business with them. Understanding the laws and regulations that
apply to their firms is an obvious starting point for companies, their
executives, and employees in terms of knowing how to act ethically.
Companies are also adopting ethics codes that provide general guidelines
about how their employees should behave, requiring their employees to
go through ethics training, and hiring chief ethics officers. Companies
want to do business with firms that are responsible. They don't want to
be associated with firms that are not. Why? Because they know ethics are
important to consumers and that they are increasingly demanding firms
behave responsibly.