Week 4 EOC: Understanding Consumer and Business Buyer Behavior

When it comes to Marketing to Businesses, and Marketing to Consumers there are many similarities and differences.

One factor that makes Marketing to Businesses and Marketing to Consumers similar is both factors make tedious decisions before purchasing an item, both Businesses and consumers want to make the right decision before spending, hard earned money. “An average consumer buying a refrigerator might do a little online research and then pop out to the local Best buy to compare models before buying one. In contrast, buying a batch of jet engines involves a tortuously long buying process, dozen or even hundreds of decision makers from all levels of the buying organization, and layer upon layer of subtle and not-so-subtle buying influences” Page 158.

A major difference is the mindset of Businesses and Consumers; Consumers want to purchase items according to the way the product appeals to them, while the business side makes multiple decisions when buying. Such as, if the product they have, will be bought by consumers.

Buying for a business is not the same, as when a consumer buys. “Business customer buying decisions are made within the framework of a strategic, problem-solving partnership” Page 158. Businesses will be manufacturing the products, which will soon be sold to consumers. Takes more of a strategic planning in the marketing process. When trying to gain buyers many factors come into play, such as building partnerships, and always keeping the customers satisfied, so they remain loyal to the products and brand. “Finally, business markets have more fluctuating demand. The demand for many business goods and services tends to change more and more quickly than the demand for consumer goods and services does. A small percentage increase in consumer demand can cause large increases in business demand.” Page 158.