B2b Decision Buying Process : Business

Customers often have substantial power to affect the competitive environment. This power can take the form of easy consumer access to several retail outlets to purchase the same or similar products or services (Pearlson & Saunders et al., 2009). L.L.Bean has, from the beginning, recognized that the customer has many options in spending. This recognition of the power the customer holds is reflected in

Various organizations operate in an increasingly complicated industry - more than a few different products, ample of business process and clients ranging from retailers to small business, service providers, exporters, and independent shops. The organization has identified increasingly the evolving trend in consumers and responds

Buyers never want to feel pushed, manipulated, or rushed. Sales professionalism is another factor into having a buyer and seller trust based relationship. This method is a way to approach customers in a trusting and non-manipulating tactic to satisfy the long-term needs of both the customer and the selling firm. Salespeople play a critical role on the sales floor. Almost all consumers in the society who are early adopters of an innovation often rely on salespeople as a primary source of information. Given the increasing importance of building a trust bond and developing a long-term relationship is an imperative that salespeople are truthful with the customers. It is important for salespeople to

In a business buying center there are five different roles. The first role are the users. These are the people who will be use the good or product. They influence the buying decisions because ultimately they will be the ones using the product. The second role are the gatekeepers. These personnel are the ones that give product data. They control what information the members of the buying center will review. The third role are the influencers. They are usually specialized staff that break down what the “pros” and “cons”

can have an impact on how the business operates and the level of demand for the products or services offered by the organisation (“What is PESTLE Analysis? A Tool For Business Analysis”), (“WHAT IS PESTLE ANALYSIS”).

The buyers in this sector are a diversified base of individual consumers serving as the end-users. Buyers are not likely to integrate backwards and thus serve solely as direct customers. The population that makes up the consumer base is extremely large and high in concentration. The diversification of the customer population serves as a weak force in the realm of department stores as purchasing intentions and products offered can be considered universal across the industry. Individual buyers do not spend enough to have a significant effect on the industry in consideration of its massive size and total revenue produced.

The founder of Best Buy Richard Schulze believed that customer focus and satisfaction would generate sales. Although Best Buy’s prices for a product may be the same as their competitors, the customer would appreciate the service and ultimately choose to shop at Best Buy. The problem lies not in the product and customer satisfaction, but the assumption of Best Buy CEO Brad Anderson’s (2002-2009) statement that “consumers (will be) drawn to brands that they trust, and they will respond to the customer-centric model.”

The four key factors that influence consumer choice are psychological, sociocultural, economic and government. These external factors are crucial to the success of the business marketing plan to fulfil the obligation of customer satisfaction. In regard to ALDI, the economic and psychological influences have been

One of the environmental changes happening in regard to the retail sector at this time was that customers were shifting their purchasing patterns from in store to online. So for example if retailers had chosen to conduct a PESTEL analysis, they would have looked at economic, social and technology factors which would have informed them that consumer’s purchasing patterns had changed. This information would of enabled retailers to have seen two things: 1) a threat to their existing business as in customers were moving their purchasing from in store to online and 2) an opportunity to continue to grow their business by having their business available to consumers online.

Normal products are categorized as products whose value is lower than prestigious products, they both assume a role in the market as they are targeted to different market segments. Demand curves differ as both products may be perceived differently, typically normal products are perceived as lower quality contrary to prestigious products whose customers perceive them as higher quality products. Ultimately, they differ in the perception of the customer as each product is categorized according to their price, and higher priced products may be perceived as better. An example could be represented by two different vehicle manufacturers; Honda, and BMW, Honda is a low priced vehicle known for reliability fuel efficiency, etc.… BMW are known for their luxury, and price. Here their demand may differ as they both have different target markets. Perhaps if Honda decided to raise their price, they would more than likely lose profit, but if BMW was to lower their price, their demand would potentially increase. These changes are known as demand shifts here a firm identifies the traits of each shift, and can identify the relationship in demand. Moreover, marketers can estimate their product demand. This is done by one;

The bargaining power of customers is high. First of all, the customer size is tremendous globally, which also has an accelerating growth rate in recent years. Customers’ leverage is strengthening as a result of this. Another inevitable factor is that with countless retailors online, there is low switching cost for customers to find other alternative companies that suits their desire to conduct purchases. Moreover, consumers today are more sophisticated. Consumers are less commit to impulsive-buying, yet are more willing to study about product features and evaluate their options before purchasing online. Their purchase pattern can also be hard to learn too.

There are many differences between the customer behavior of the B2B space and the B2C space. For one thing, the wants and the needs of these two customers are entirely different. Individual consumers only need to worry about their own needs, whereas B2B customers need to look at the needs of the company as a whole. It behooves B2B companies to seek out influencers and powerful executives, while B2C companies may focus on any one consumer seeking a product or service. In this corporate space, customers’ needs are based less off personal reflection and more on the company’s overall business strategy. Businesses customers are more likely to research product attitudes, including quality, productivity, and overall value.

Thesis in Marketing, 15 ECTS credits Final seminar: 25.05.2010 Authors : Elise MEYER (890511) Ingrid BERNIER (901218) Supervisor: Jean-Charles LANGUILAIRE Examiner: Roger STRÖM

When it comes to launching an e-commerce site selling directly to consumers, there are many risks to be considered in the decision-making process. For A Couple of Squares, they need to consider the sheer time commitment it takes to run the online aspect of a business. Erb and Bradshaw wants to make sure the system is all put in order before they start to take orders to prevent any unwanted work or stress for the staff once the website is launched. With this Erb says the website will take of half of her time before the launch and more afterwards. (CITE)(B)

Four factors affecting consumers’ demand are analysed in this section, including price, income, advertising and marketing, and