Show
The organizational buying process contains eight stages, or key phrases, which are listed in Figure 4.5. Although these stages parallel those of the consumer buying process, there are important differences that have a direct bearing on the marketing strategy. The complete process occurs in the case of a new task. Even in this situation, however, the process is far more formal for the industrial buying process than for the consumer buying process. Most of the information an industrial buyer receives is delivered through direct contacts such as sales representatives or information packets. It is unlikely that an industrial buyer would use information provided through a trade ad as the sole basis for making a decision. Figure 4.5 Stages of organizational buying.
Table 4.1 Industrial buyer information sources
Newsline: The future of the consumer Experts say consumers in the new millennium will throw some surprising twists and turns into the business of target marketing, overturning some of the traditional thinking about what we will buy, how we will live, and where we will work. "The 21st century will be the century of the consumer," says Roger Blackwell, a professor of marketing. "Marketers will have to push their understanding beyond knowing what
people buy to knowing why they buy." The 2010s will be the "Linked Decade", defined by a busy, mature, ethnically heterogeneous group of consumers who are confident in their ability to read anything, buy anything, and experience anything.
Review
The Wall Street Journal (wsj.com) In practice Questions
At which stage of the organizational buying decision process would purchasing assess the financial status of potential suppliers?At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their facilities? problem recognition.
At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers?In the alternative evaluation stage of the organizational buying decision process, purchasing and engineering personnel... visit with suppliers and assess facilities, capacity, quality control, and financial status.
What are the stages of buying decision process?5 Essential Steps in the Consumer Buying Process. Stage 1: Problem Recognition.. Stage 2: Information Gathering.. Stage 3: Evaluating Solutions.. Stage 4: Purchase Phase.. Stage 5: The Post-Purchase Phase.. At what stage of the business buyer process does value analysis occur?Step 3: Search for and evaluate possible products and suppliers. Conduct a value analysis – and evaluation of each component of a potential purchase; examine quality, design, materials, item reduction/deletion to save costs, etc.
|