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Analyzing Business Markets

In: Business and Management

Submitted By sharenv
Words 512
Pages 3
Chapter 8 : Creating Brand Equity
Resumed by :
Kelvin Karnadi 201560115
Sharen Veronica 201560176
Analyzing Business Markets
Organizational buying is the decision-making process by which formal organiztions establish the need to purchase products and services, then identify, evaluate, and choose among alternative brands and suppliers. The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.
Buying situations * straight re-buy : A purchasing situation where the buyer reorders the same products without researching or considering other suppliers * modified re-buy : A purchasing situation where the buyer's revisions to the order require additional analysis or research * new buy : A purchasing situation requiring the purchase of a product for the very first time.

Participants in the business buying process

The major participants in business buying process are * Initiators-are the ones who initiate or recognize the need of a particular product requirement in the organization for enhancement or to combat depravation. * Users-are the ones who are going to use the product or require it for the smooth functioning of their operations. * Influencers --Influencers can be of different levels and the decisions that they influence might differ from person to person or post to post. These are basically the people who will influence the decision of which product to buy from where and what suitable price to buy it in. * Deciders - they decide or have the authority to decide whether to buy a certain product or not. * Approvers-they approve the deciders decision to by usually these people are authorized to do so. * Buyers--They are the once who make the actually purchases from other business. * Gatekeepers –the ones who have the…...

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