New Task

What is Business Buyer Behaviour?

Business buyer behaviour refers to the intent and attitude shown by companies and employees while making purchases for the organisation. Business buying behaviour is the concept of recognising a company’s requirements and goals and making suitable purchases that help the organisation make profits. Employees are assigned distinct jobs in companies and are accountable for making business purchases. This position is also known as a business buyer. Business buyer behaviour can be understood through the business purchasing process, which assists organisations in obtaining the finest raw materials and items that can be processed to maximise production and returns....

Types of Buying Situations

A buyer may often encounter three different types of buying circumstances. One extreme of this circumstance is a straight rebuy which includes a regular purchase, and the other extreme is a new task, which requires extensive research. Modified rebuy exists at the middle level and takes considerable research. Below is a full description of each buying situation :...

1. Straight Rebuy:

A Straight Rebuy occurs when a buyer purchases the same goods in the same quantities from the same source. In other words, nothing changes. Post-purchase reviews are frequently neglected unless the buyer observes an unanticipated change in the offering, such as a decrease in quality or delivery time. Straight rebuys are preferred by sellers since the buyer does not evaluate other items or look for new suppliers. As a result, the seller receives a consistent and predictable source of money, and doesn’t have to spend as much time on the account and may instead focus on securing new business prospects. Regardless, the seller cannot disregard the account. The seller must still give the buyer with excellent and reliable service; otherwise, the straight-rebuy situation may be jeopardized....

2. Modified Rebuy:

When a company decides to purchase the same kind of product it has in the past but makes some changes to it, this is known as a Modified Rebuy. Perhaps the buyer wants the goods slightly customised or in different quantities, packaging, or delivery....

3. New Task:

A firm that is purchasing a product or service for the first time has a new task. In these situations, the bigger the cost or risk, the greater the number of decision players and their attempts to gather information. A new-task buying situation arises when a company buys a product for the first time. In general, all of the purchasing processes described in the previous section take place. New tasks take the most time for both the purchasing firm and the firms selling to them. If the product is complex, many suppliers and products will be considered, and several RFPs (Request for Proposal) will be issued....

Participants in Business Buying Process

The different participants in a business buying process include:...

Major Influences on Business Buyers

When making buying decisions, business buyers are influenced by a number of factors. Some marketers believe that the primary factors are economic. They believe that buyers would favour the supplier that offers the lowest price, the best goods, or the best service. They focus on providing substantial economic benefits to buyers. However, business buyers are influenced by both economic and human factors. Business buyers are human and social as well, not cold, calculating, and impersonal. Some of the major influences on business buyers include:...