Learning Objectives

Understand the consumer market

and the major factors that influence
consumer buyer behavior.
Identify and discuss the stages in
the buyer decision process.
Describe the adoption and diffusion
process for new products.

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Learning Objectives

Define the business market and

identify the major factors that
influence business buyer behavior.
List and define the steps in the
business buying decision process.

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First Stop: GoPro: Be a Hero!

Reason for successTechnologydriven cameras with affordable price
ranges
Essential steps in customers
storytelling and emotion-sharing
journeys
Key to successUnderstanding
customer needs and motivations
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Consumer Markets and

Consumer Buyer Behavior

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Figure 5.1 - Model of

Buyer Behavior

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Figure 5.2 - Factors

Influencing Consumer
Behavior

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Cultural Factors

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Social Factors

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Personal Factors

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Psychological Factors

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Figure 5.5 - Buyer Decision

Process

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Stages in the Adoption

Process

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Figure 5.6 - Adopter Categories

Based on Relative Time of
Adoption of Innovations

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Characteristics Influencing an
Innovations Rate of Adoption

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Business Buyer Behavior

Buying behavior of organizations
Purchased goods and services are used in the
production of other products and services
that are sold, rented, or supplied to others.

Business buying process: Determining

which products and services an
organization needs to purchase
Finding, evaluating, and choosing among
alternative suppliers and brands

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Business Markets
Business markets are huge and
involve more money and items than
consumer markets.
Differ from consumer markets in
terms of:
Market structure and demand
Nature of the buying unit
Types of decisions and the decision
process
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Market Structure and Demand

and Nature of the Buying Unit
Market structure and demand
Fewer but larger buyers
Derived demand: Business demand
that comes from the demand for
consumer goods
Inelastic and fluctuating demand

Nature of the buying unit

More decision participants
More professional purchasing effort
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Types of Decisions
Business purchases
More complex buying decisions
Large sums of money
Complex technical and economic
considerations
Interactions among people at many
levels of the buyers organization

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Decision Process
Buying processes
Longer and more formalized procedures
Buyer and seller more dependent on
each other

Supplier development: Systematic

development of networks of supplierpartners
To ensure a dependable supply of
products and materials
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Figure 5.7 - A Model of

Business Buying Behavior

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Types of Buying Situations

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Participants in the
Business Buying Process
Buying center: All the individuals and
units that play a role in the purchase
decision-making process
Actual users of the product or service
People who make the buying decision
People and units influencing the buying
decision
People who do the actual buying
Individuals and units controlling the buying
information
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Figure 5.8 - Major Influences on

Business Buying Behavior

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Figure 5.9 - Stages of

Business Buying Behavior

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E-Procurement
Purchasing through electronic
connections between buyers and
sellersusually online
E-procurement occurs through:

Reverse auctions
Online trading exchanges
Company buying sites
Extranet links with key suppliers
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Benefits and Problems

of E-Procurement

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Learning Objectives

Understand the consumer market

and the major factors that influence
consumer buyer behavior.
Identify and discuss the stages in
the buyer decision process.
Describe the adoption and diffusion
process for new products.

Copyright 2015 Pearson Education, Inc.

5 - 28

Learning Objectives

Define the business market and

identify the major factors that
influence business buyer behavior.
List and define the steps in the
business buying decision process.

Copyright 2015 Pearson Education, Inc.

5 - 29

All rights reserved. No part of this publication may be reproduced, stored in a

retrieval system, or transmitted, in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise, without the prior written
permission of the publisher. Printed in the United States of America.

Copyright 2015 Pearson Education, Inc.