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- Business market and their buying behaviour refer to the process and factors that influence the purchase of products and services by organisations for end use purpose1. The business market involves fewer buyers, but higher buying power and derived demand2. The buying-decision process may have five stages: need recognition, identification of alternatives, evaluation of alternatives, purchase decision, and postpurchase behavior3. The buying behaviour is affected by economical, company, individual and interpersonal factors4.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Business buying is buying products and services by an organisation for end use purpose. Business buying behaviour refers to the actions of employees of an organisation to buy products and services for the organisation which includes the decision making process of selection of suppliers and bearing post purchase consequences.
www.abcofmarketing.com/topic/business-markets-…The business market involves far fewer buyers, but those buyers purchase much more product and have higher buying power. Business markets have what is called derived demand, which is when the demand is for consumer goods. Some businesses have what is called inelastic demand, which is when the total demand is not affected by price changes.www.universalclass.com/articles/business/busines…The buying-decision process in business markets may involve as many as five stages: need recognition, identification of alternatives, evaluation of alternatives, purchase decision, and postpurchase behavior.highered.mheducation.com/sites/0073016349/stud…Business buying behaviour is influenced by economical, company, individual and interpersonal factors. Economical factors like regulatory changes, technology changes, competition, fiscal policy and monetary policy influence buying behaviour. Business buyers are active in tracking and analyzing economical factors.www.managementstudyguide.com/business-marke… - People also ask
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