How does B2B buying differ from B2C buying?
What will be an ideal response?
B2B buying purchases are made for some purpose other than personal consumption. The B2B purchasing process is often far longer than the consumer decision-making process. It requires standardized procedures that are not typically found in consumer buying and often involve competitive bidding, price negotiations, and complex financial arrangements. Another unique factor for business markets relates to size: business marketers typically deal with far fewer buyers than consumer marketers. Unlike in consumer markets where demand is based on consumer needs and preferences, B2B demand is derived from the demand for other goods and services.
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