5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The...

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Transcript of 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The...

Page 1: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Page 2: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Business Markets and

Buyer Behavior

Chapter 5Chapter 5Chapter 5Chapter 5

McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

Page 3: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Chapter GoalsChapter GoalsChapter GoalsChapter Goals

McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

• Nature and scope of the business market

• Seven categories of business buyers

• Characteristics of the business markets

• Determinants of business market demand

• Buying processes in business markets

Page 4: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Business MarketBusiness Market

Individuals and organizations that buy goods and services to

Individuals and organizations that buy goods and services to

ResellResellResellResellMake other Make other goods and servicesgoods and services

Make other Make other goods and servicesgoods and services

Conduct the Conduct the organization’s organization’s

operationsoperations

Conduct the Conduct the organization’s organization’s

operationsoperations

Page 5: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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ComponentsComponents of the Business Market of the Business Market

AgriculturalAgriculturalAgriculturalAgricultural

ResellerResellerResellerResellerServicesServicesServicesServices

““Nonbusiness”Nonbusiness”““Nonbusiness”Nonbusiness”GovernmentGovernmentGovernmentGovernment InternationalInternationalInternationalInternational

Page 6: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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DeterminantsDeterminantsof Business Market Demandof Business Market Demand

Number and typesNumber and types of buyersof buyers

Number and typesNumber and types of buyersof buyers

Inelastic DemandInelastic DemandInelastic DemandInelastic Demand

Fluctuating DemandFluctuating DemandFluctuating DemandFluctuating Demand

Well-informed marketWell-informed marketWell-informed marketWell-informed market

Page 7: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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NAICS Industry Sectors NAICS Industry Sectors

Page 8: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Buying Power of Business UsersBuying Power of Business Users

ManufacturingManufacturingManufacturingManufacturing

Activity indicators of purchasing powerActivity indicators of purchasing powerActivity indicators of purchasing powerActivity indicators of purchasing power

ConstructionConstructionConstructionConstruction

MiningMiningMiningMining

AgriculturalAgriculturalAgriculturalAgricultural

Page 9: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

5-9

Importance of Business Buying Importance of Business Buying

Making less Making less and buying moreand buying more

Making less Making less and buying moreand buying more Quality and timeQuality and time

pressurepressureQuality and timeQuality and time

pressurepressure

ConcentratingConcentrating purchasespurchases

ConcentratingConcentrating purchasespurchases

Right product, right time, right priceRight product, right time, right price affects firm’s performanceaffects firm’s performance

Right product, right time, right priceRight product, right time, right price affects firm’s performanceaffects firm’s performance

Page 10: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Business Buying-Decision Process Business Buying-Decision Process

Page 11: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Buying Motives Buying Motives

Needs that direct the purchasingNeeds that direct the purchasingbehavior of business usersbehavior of business users

Needs that direct the purchasingNeeds that direct the purchasingbehavior of business usersbehavior of business users

Organizational Organizational GoalsGoals

furtherfurther company’scompany’s

positionposition

Organizational Organizational GoalsGoals

furtherfurther company’scompany’s

positionposition

PersonalPersonal GoalsGoals

protect or protect or further one’s further one’s

positionposition

PersonalPersonal GoalsGoals

protect or protect or further one’s further one’s

positionposition

Page 12: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Multiple Buying InfluencesMultiple Buying Influences

InfluencersInfluencers

BuyerBuyer

DeciderDecider UserUser

GatekeeperGatekeeper

Page 13: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Buyer-Seller RelationshipsBuyer-Seller Relationships

VALUE CHAINVALUE CHAINVALUE CHAINVALUE CHAIN LOYALTYLOYALTYLOYALTYLOYALTY

Customer Relationship Management

Customer Relationship Management

TrustTrustCostEffective

CostEffective

Long-termLong-termRelationship Marketing

Relationship Marketing

SelectedCustomer Selected

Customer

Page 14: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

5-14

Buying PracticesBuying Practices

LeasingLeasingLeasingLeasing

DependabilityDependability of Supplyof Supply

DependabilityDependability of Supplyof Supply

Service Service ExpectationExpectation

Service Service ExpectationExpectation

ReciprocityReciprocity AgreementsAgreementsReciprocityReciprocity

AgreementsAgreements

Length ofLength of NegotiationNegotiationLength ofLength of

NegotiationNegotiation

Size of OrderSize of OrderSize of OrderSize of Order

FrequencyFrequency of Purchaseof PurchaseFrequencyFrequency

of Purchaseof Purchase

DirectDirect PurchasePurchase

DirectDirect PurchasePurchase

Page 15: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

5-15

Electronic CommerceElectronic Commerce

Reverse auctionsReverse auctionsReverse auctionsReverse auctions

Interactions and transactions over the Internet

Interactions and transactions over the Internet

Commodity salesCommodity salesCommodity salesCommodity sales

Electronic bulletinElectronic bulletinboardsboards

Electronic bulletinElectronic bulletinboardsboards

Page 16: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

5-16

Key Terms and ConceptsKey Terms and ConceptsKey Terms and ConceptsKey Terms and Concepts

McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

• Business market

• Business user

• Business marketing

• Business marketer

• Agribusiness

• Reseller market

• Disintermediation

• Government market

• Business services market

• Nonbusiness market

• International market

• Elasticity of demand

• North American Industry Classification System (NAICS)

• Value added

• Vertical business market

• Horizontal business market

• Activity indicator of buying power

• Buying motives

• Buy class

Page 17: 5-1. 5-2 Business Markets and Buyer Behavior Chapter 5 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

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Key Terms and ConceptsKey Terms and ConceptsKey Terms and ConceptsKey Terms and Concepts

McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

• New-task buying

• Straight rebuy

• Modified rebuy

• Buying center

• Buying roles

• Value chain

• Loyalty

• Customer relationship management (CRM)

• Electronic commerce


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