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11 Cards in this Set
- Front
- Back
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Characteristics of Business Markets
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-Fewer but larger buyers
-geographically concentrated -buyer demand derived from final consumer demand -demand is inelastic but fluctuates more -more complex buying decisions -more formalized process |
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Advantages of E-Procurement
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-access to new suppliers
-lower costs -speed order processing/delivery -shares information -service/support |
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Disadvantages of E-Procurement
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-erode relationships as buyers search for new suppliers
-security |
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Influences of Buying Process for Businesses
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1. Individual (age, education, job position, personality, risk attitudes)
2. Interpersonal (authority, status, empathy, persuasiveness) 3. Organizational (objectives, policies, procedures, organizational structures, systems) 4. Environmental (economic, supply conditions, tech change, political/regulatory developments, competitive developments, cultures/customs) |
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Institutional Markets
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hospitals, nursing homes, and prisons that provide goods/services to people in their care
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Characteristics of Institutional Markets
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Low budget, captive audience
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Government Markets
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favor domestic suppliers and require suppliers to submit bids and normally award to the lowest bidder
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Characteristics of Government Markets
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Carefully monitored, affected by similar environmental factors, good credit, non-economical factors, minority suppliers, depressed suppliers, small businesses
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Buying Center
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Users
Influencers Buyers Deciders Gatekeepers |
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Systems Selling
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packaged solution from single seller
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Supplier Development
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development of networks of supplier-partners
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