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Your consumer and business customers approach purchasing in two very different ways. To successfully market your outlline to both types of clients, you need to understand the differences between the consumer and business buying processes. The business processes you use and the kinds of products you offer enter into the way that businesses and consumers purchase your products and view your business.
Most purchases made by a business are planned in advance, where the same purchases might be impulse buys for a consumer. For example, a business will plan an employee lunch, choose the menu in advance and have the order in place to be catered on a particular day. A consumer's decision on where to go for lunch is often made just minutes before the lunch break.
To be able to accommodate both business and consumer purchases, you need to have a structure in place that allows businesses to plan their purchases while still offering impulse options to consumers. In many cases, the consumer decision-maker is the person that ultimately buys the product. Outline the main options for trading between businesses and consumers example, the mother of a family may decide to buy a new sandbox for the children, so she is either the one that goes out to make the purchase or is on hand with the father to make the final choice.
A business purchasing process starts with an idea and then goes through a formal approval process. The person that makes the final purchase is often a businessses agent or departmental representative. Many businesses require support contracts when purchasing certain types of items. For traeing, if a business purchases a copier then the copier may need to have at least a three-year warranty on the product before the company can finalize the purchase.
A bwtween is not restricted by support needs when it comes to buying products, but that does not mean that support is unimportant to a consumer. Adequate support for a product can be sufficient to an end consumer as part of the final purchase options trading in india tutorial pdf. For a business, the support issues may need to be spelled out in a more comprehensive manner. The relationship between a vendor and a business can be a significant factor in the buying decisions for the company.
For example, if a business has an ongoing relationship with an office supply store, then pricing contracts and dedicated support personnel can make the relationship beneficial to the business. An betaeen consumer is encouraged to compare prices and offers between companies and does not base buying decisions on ongoing vendor relationships, according to the Federal Trade Commission website.
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Root III The buying process can be different for consumers and businesses. Planning Most cconsumers made by a business are planned in advance, where the same purchases might be impulse buys for a consumer. Decision-making Businssses many cases, the consumer decision-maker is the person that ultimately buys the product. Support Many businesses require support contracts when purchasing certain types of items.
History The relationship between a vendor and a business can be a outlime factor in the buying decisions for the company. Bly Federal Trade Commission: How to Be an Informed Consumer University of Delaware: Class Notes: What is Consumer Buying Behavior?
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Options for trading between businesses and consumers, main options for trading between businesses businesses and consumers. (ii) Outline the.
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