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Lecture 9 (B2B Buying) (Influences in buying (Organizational Factors,…
Lecture 9 (B2B Buying)
Organisational buying , is a decision making process carried out by individuals, in interaction with other people, in the context of a formal organisation
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Decision-Making process,
Rationality, More complex as more than one person involved. Time to make decisions, the procedures applied while taking those decisions.
Risk, degree of risk can be very high, Consequently more time spent in deliberation and evaluating alternatives, making sure that the risk of failure is minimized
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Influences in buying
Organizational Factors, factors related to objectives and goals, purchasing policies, resources. If the firm is innovative, dynamic, bureaucratic . Their culture
Interpersonal/Social , People in the buying center will have attitudes, values and belief systems which interact with those of the organization and hence various personality types and individual politics can influence buying
Environmental Factors, Products and services fluctuates per changes in demand for consumer products and hence a change in economic conditions (e.g. disposable income, interest rates, unemployment levels, economic growth)
Individual Factors,individuals will have different personalities, their own way of perceiving the world, come from different cultures, have different cognitive styles
Buyers and sellers tend to be interdependent on each other and hence the need to identify and manage key accounts can have strategic relevance and impact on the performance on the organization