consumer and industrial buying behaviour

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Information about consumer and industrial buying behaviour
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Published on May 18, 2010

Author: awasthikhushboo

Source: authorstream.com

Slide 1: PRESENTATION ON – CONSUMER AND INDUSTRIAL BUYING BEHAVIOUR Presented By Prof. Khushboo Awasthi Mahakal institute of management Ujjain (M.P.) Slide 2: Consumer Buying Behaviour An important part of the marketing process is to understand why a customer or buyer makes a purchase. Without such an understanding, businesses find it hard to respond to the customer’s needs and wants. Marketing theory traditionally splits analysis of buyer or customer behaviour into two broad groups for analysis – Consumer Buyers and Industrial Buyers   Consumer buyers are those who purchase items for their personal consumption Industrial buyers are those who purchase items on behalf of their business or organization . Businesses now spend considerable sums trying to learn about what makes “customers tick”. The questions they try to understand are: • Who buys? • How do they buy? • When do they buy? • Where do they buy? • Why do they buy? Slide 3: Why Consumers Buy customers make purchases in order to satisfy needs. Some of these needs are basic and must be filled by everyone on the planet (e.g., food, shelter) while others are not required for basic survival and vary depending on the person. It probably makes more sense to classify needs that are not a necessity as wants or desires. consumer are referring to the actual buyer, the person spending the money. But is should also be pointed out that the one who does the buying is not necessarily the user of what is bought and that others may be involved in the buying decision. What Influences Purchasing Slide 5: Types of Consumer Purchase Decisions: Minor New Purchase – these purchases represent something new to a consumer but in the customer’s mind is not a very important purchase in terms of need, money or other reason (e.g., status within a group). Minor Re-Purchase – these are the most routine of all purchases and often the consumer returns to purchase the same product without giving much thought to other product options (i.e., consumer is brand loyalty). Slide 6: Major New Purchase – these purchases are the most difficult of all purchases because the product being purchased is important to the consumer but the consumer has little or no previous experience making these decisions. The consumer’s lack of confidence in making this type of decision often (but not always) requires the consumer to engage in an extensive decision-making process. Slide 7: Major Re-Purchase - these purchase decisions are also important to the consumer but the consumer feels confident in making these decisions since they have previous experience purchasing the product. Slide 8: Consumer Buying Centers: Initiators Influencers Deciders Buyers Users Slide 9: COMPLEX BUYING VARIETY SEEKING DISSONENCE HABITUAL BUYING Buying Behavior Matrix: HIGH INVOLMENT LOW INVOLVEMNT SIGNIFICANT DIFFERENCE BETWEEN BRANDS FEW DIFF BETWEEN BRANDS Slide 10: BUYING BEHAVIOUR PROCESS Slide 11: ORGANISZATIONAL BUYING Organization buying as the decision making process by which formal organizations establish the need for the purchased products and services and identify, evaluate, and choose among alternative brands and suppliers. -Webster and wind BUYING SITUATIONS: The business buyers face many decisions in making purchase. Mainly there are three types of buying situations: Straight Rebuy: The straight rebuy is a buying situation is a situation in which the purchasing department reorders on a routine basis .The buyer chooses supliers on an “approved list”. Slide 12: 2.Modified Rebuy: The modified rebuy is a buying situation in which the buyer wants to modify product specification, prices, delivery requirements, or other terms. 3. New task: The new task situation is a situation in which purchaser buys a product or service for the first time . The greater the cost or risk, the larger the no. of decisions participants and the greater their information search and therefore e the longer time to decision completion. Slide 13: Industrial Products: Raw material Fabrication parts and material Installation Accessories equipments Operating supplies Industrial marketing Im consists of all activities : Involved in marketing of products and services. To organization that use products and services in the production of consumer or industrial goods. And to facilitate the operation of their enterprises. IM is that human activity directed towards satisfying wants and needs of organizations through exchange process. -Philip kotler Slide 14: Exchange process involves: - Product / Service exchange - Information Exchange - Financial Exchange SYSTEMS BUYING AND SELLING: Many business buyers prefer to buy a total solution to their problem from one seller called system buying, this practice originated with government purchases of major weapons and communication systems. One variant of systems selling is system contracting , where a single supplier provides the buyer with his/her entire requirement of MRO (maintenance, repair, operating ) supplies.   Participants in Buying process: Initiators: Those who request that something be purchased. Users: Those who will use the product or service. Influencers: People who influence the the buying decision. Slide 15: Deciders: People who decide on product requirements or on suppliers. Approvers: People who authorize the action of deciders or buyers. Buyers: People who have formal authority to select the supplier and arrange and arrange the purchase terms. Gatekeepers: People who have the power to prevent sellers or information from reaching members of the buying centers. STAGES IN BUYING PROCESS:   Problem Recognition General need description and product specification Supplier search Proposal solicitation Supplier selection Order routine specification: Blanket contract or stockless purchase plan 7. Performance review Slide 16: DIFFERENCE ETWEEN INDUSTRIAL AND CONSUMER MARKETS:

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