Describe the various stages of the business buying decision process.

Question

What will be an ideal response?

Answer 1

In the first stage of the business buying decision process, one or more individuals recognize that a problem or need exists. The second stage of the process, development of product specifications, requires that buying center participants assess the problem or need and determine what is necessary to resolve or satisfy it. During this stage, users and influencers, such as engineers, provide information and advice for developing product specifications. Searching for and evaluating potential products and suppliers is the third stage in the decision process. The results of deliberations and assessments in the third stage are used during the fourth stage of the process to select the product to be purchased and the supplier. In some cases, the buyer selects and uses several suppliers, a process known as multiple sourcing. During the fifth stage, the product's performance is evaluated by comparing it with specifications. Sometimes the product meets the specifications, but its performance fails to adequately solve the problem or satisfy the need recognized in the first stage.