Business Buyer Behaviour: Introduction
Business buyer behaviour is the intent and behaviour shown by companies and employees into making purchases for the organization. Business buying behaviour is the concept of understanding the needs and wants of a business and making appropriate purchases, which ultimately help a company get profits.
Companies have specific roles allotted to employees, who responsible for making business purchases. This role is often known as business buyer. Business buyer behaviour can be understood on the basis of the business buying process, which helps companies to get the best raw material & goods, which can be processed to get maximum output and returns.
Business Buying Process
Types of Buying Situations
Broadly there are three types of buying situations in a company
- New Task– extensive problem solving stage; focus on product; 2 types- judgemental and strategic
- Modified Rebuy– limited problem solving; focus on product & vendor; 2 types-simple and compile
- Straight Rebuy– routine problem solving; focus on vendor; 2 types- casual and routine
Hence, this concludes the definition of Business Buyer Behaviour along with its overview.
Business Buying Behaviour Factors
There are certain factors which influence the buying decision of an organization. Some of them are:
- Environmental forces
- Organizational forces- Technical and price related specifications
- Group forces- preferences of buying centre group
- Individual forces- individual preferences
- Factors like supplier of choice, order quantity, delivery, service, payment terms etc