Describe the major factors that influence business buyers

What will be an ideal response?


Business buyers are heavily influenced by factors in the current and expected economic environment, such as levels of primary demand, the economic outlook, and the cost of money. Business buyers are also affected by supply of key materials and technological, political, and competitive developments in the environment. Finally, culture and customs can strongly influence business buyer reactions to the marketer's behavior and strategies, especially in the international marketing environment. The business buyer must watch these factors, determine how they will affect the buyer, and try to turn environmental challenges into opportunities. Organizational factors are also important. Each buying organization has its own objectives, strategies, structure, systems, and procedures, and the business marketer must understand these factors well. The buying center usually includes many participants who influence each other, so interpersonal factors also influence the business buying decision process. Each participant in the business buying decision process brings in personal motives, perceptions, and preferences. These individual factors are affected by personal characteristics such as age, income, education, professional identification, personality, and attitudes toward risk.

Business

You might also like to view...

Automated teller machines (ATMs) are used primarily by businesses rather than by consumers

Indicate whether the statement is true or false

Business

Which of the following is not good advice for communicating clearly in other cultures?

A) Stay away from specific examples. B) Avoid jargon and slang. C) Encourage questions. D) Use a variety of media. E) Use humor sparingly.

Business

What is the major difference between a sales tax and an excise tax?

A. Sales taxes are imposed on the purchase of tangible goods, while excise taxes are imposed on the purchase of services. B. Sales taxes must be collected by the seller, while excise taxes must be paid directly by the purchaser. C. Sales taxes are imposed on the purchase of a wide variety of items, while excise taxes are imposed on the purchase of a few specific items. D. Sales taxes are levied by state governments, while excise taxes are levied only by the federal government.

Business

Dillon's boss criticizes him again with the statement, "I think my 12-year-old niece would do a better job updating our site." To best resolve the conflict, what response should Dillon make?

A) "I want to improve our Web site. In what specific way would your niece do a better job?" B) "Back off please. Bullying a subordinate is a human rights violation." C) "I doubt it. I once met your niece at a company picnic, and she gave me the impression of being a little dull." D) "You may be the boss. But one more insult and I quit."

Business