25-06-2012, 05:48 PM
INDUSTRIAL BUYING PROCESS
Industrial Buying.pptx (Size: 1.29 MB / Downloads: 61)
Definition: It is defined as the decision-making process by which formal organizations establish the need for purchased products/services to identify, evaluate and choose among alternative brands and suppliers.
Industrial Buying
The buying decisions of industries are influenced by environmental factors, organizational factors, interpersonal factors and personal factors
Buy Phase in Industrial Buying
Buying is an organizational –decision making process
There are 8 phases in the buying-decision process
In Industrial markets the buying decision making process includes observable sequential stages, understanding these phases helps in developing appropriate selling strategy
Participants in the Industrial Buying Process
Participants in the industrial buying process play as many as seven different roles, namely those of initiator, influencer, approver, user, decider, buyer and gatekeeper.
Summary
The industrial marketing need to understand the purchasing objectives and purchasing activities of the industrial buyers. The industrial buyers are influenced by both purchasing objective of the firm and personal objectives
The industrial buyers are influenced by many factors , the major factors like environmental factors, organizational factors, interpersonal factors and personal factors
There are 8 phases of buying decision making process include Initiator, Influencer, Approver, User, Decider, Buyer and Gatekeeper. The industrial markets should identify the key members of buying center in each buying decision.