...Discussion Module 4: Business Buying Behavior The airlines industry provides an interesting backdrop for a discussion of the business buying process. The buying behavior of the organizations that buy goods and services for use in the production of other products and services or to resell or rent them to others at a profit. Consider the major influences on business buyers found in the Boeing Supplier website and then discuss Boeing's expectations of supplier. CHICAGO, April 18, 2014 /PRNewswire/ -- Boeing (NYSE: BA) has honored 16 organizations with its Supplier of the Year awards, recognizing exceptional performance and contributions to the aerospace company's success during 2013. The awards are based on meeting or exceeding quality, on-time delivery, post-delivery support and affordability goals, and demonstrating the ability to anticipate and respond to changing requirements. "These supplier-partners performed exceptionally last year—in ways that differentiated them," said Jim McNerney, Boeing chairman and chief executive officer. "They helped us provide our customers with more capability for less cost in today's dynamic environment. We look to their partnership in the future to keep Boeing at the forefront of technology, innovation, productivity and affordability." Each year, Boeing spends more than $60 billion for goods and services from more than 21,000 suppliers and partners around the world that collectively employ more than one million people. In 2013, Boeing's...
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...School of Management Blekinge Institute of Technology How macro environmental forces affect business buying behavior after a recession: A case study of the second hand truck business NAME OF AUTHOR Christos Kakazoukis NAME OF SUPERVISOR Urban Ljungquist MASTER’S THESIS IN BUSINESS ADMINISTRATION, MBA PROGRAM Jan 2011 Thesis for the Master’s degree in Business Administration Autumn 2010 Abstract Master thesis in business administration, MBA Program, School of Management, Blekinge Institute of Technology, fall of 2010. Author: Christos Kakazoukis Supervisor: Urban Ljungquist Title: How macro environmental forces affect business buying behavior after a recession: A case study of the second hand truck business. Keywords: Buying behavior, customer behavior, financial crisis, trucks, PESTEL Background and problem: The financial crisis has had a deep impact on businesses all around the world. This has affected our purchases, both as retailers and as customers. In this thesis I will investigate how the buying behavior has changed, before, during and after the financial crisis with focus on the second hand truck business. I will also investigate which macro environmental factors have affected the buying behavior. Purpose: The purpose of this research is to describe changes in buying behaviors from influence of macro environmental forces. Method: I have used a qualitative method, and as a part of that face to face interviews, to understand and establish a better contact...
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...Lecture Topic 6 Ch. 5 & 6 (p. 188 - 201) Buyer Behavior MKTG 2501 Lecturer: Yin Mei NG Model of Consumer Behavior External Stimuli • Marketing Stimuli • Environmental Forces BUYER’S BLACK BOX • Buyer’s decision process • Buyer’s characterist ics Buyer Responses • Buying attitude and preference • Purchase behavior (what, when, where, and how much) • Relationship behavior with brand and company Five Stages in the Consumer Decision Process Need recognition Information search Evaluation of alternatives Purchase decision Class Discussion: Customer Needs • What do parents-to-be need? • How can a company meet their important needs? Identify and Evaluate Alternatives Example: Brand Choice of Your Computer Purchased Recently Company: What can you do? Dear Company, We’re sorry to let you know your brand is not in our evoked set. To: The Company Yours sincerely, Your target customers Question: • What can a company do if its brand is NOT in the evoked set of the target consumers? – Inept set (avoided alternatives) – Inert set (backup alternatives) – Unawareness set Example: A customer’s evaluation of 3 computer brands • Which brand would this consumer most likely choose to purchase? • Which brand would this consumer least likely choose to purchase? Attributes (Criteria) Importance Weight (Sum = 1.0) Evaluation on the Performance of Alternative Computer Brands (Score: 1-7) Evaluation of Alternatives Brand A Price Speed Warranty Size ...
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...Explain the relationship between consumer traits and behavior. Provide a specific example. What is consumer buying behavior and how is it impacted by internal and external factors? Buying behavior is the decision processes and acts of people involved in buying and using products. When trying to understand the complexity of consumer buying behavior it is important to understand the why consumers buy any products or contract any services. What influences a consumer to buy one brand over another? Personal behavior and character traits have a large role in the actions we take the decisions we make, including consumer choices. Traits Character traits are defined as enduring and stable patterns of behavior, attitudes, emotions, that vary between individuals (Dr Howell, 2014). Personality traits are everlasting characteristics that are consistently demonstrated in spite of changing circumstances or environment. Because they define habitual patterns of behavior, thought and emotion, they provide a foundation for predicting behavior. Researchers have linked personality traits to experiential buying tendencies, political orientation, and preference in pets, even more meaning connections to divorce, morbidity, and occupational attainment. Traits are a window into consumer motivations. Traits are hard for marketing plans to alter but a communication plan may be altered to focus on certain character traits. As an example, if a specific demographic has a certain political orientation...
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...MODELS OF ORGANIZATIONAL BUYING BEHAVIOR INTRODUCTION Organizational buying is a complex process of decision making and communication, which takes place over time, involving several organizational members and relationship with other firms and institutions. It is much more than a simple act of placing an order with the suppliers. In this sense, organizational buying behavior is the decision making process by which formal organizations establishes the need for purchased products and services and identifies, evaluate and choose among alternative brands and suppliers. Industrial or Business buyers are influenced by many factors when they make buying decisions. Generally, business buyers are influenced by organizational factors or task oriented objectives (like best product quality, or dependable delivery, or lowest price) and personal factors or non-task objectives (like promotion, increments, job security, personal treatment or favor). When the suppliers’ proposals are substantially similar, organizational buyers can satisfy organizational objectives with any supplier, and hence personal factors become more important. When suppliers’ offer differ substantially, industrial buyers pay more attention to organizational factors in order to satisfy the organizational objectives. There are two models available to provide a comprehensive and integrated picture of the major factors that combine to the organizational behavior. These are (i)The Webster and wind model and (ii) The Sheth...
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...EMBA 2011 | MKTG901 ASSIGNMENT 2 | INDIVIDUAL CONSUMER BEHAVIOR vs. BUSINESS CUSTOMER BEHAVIOR | | ALPER ARSLAN | 10/30/2010 | INDIVIDUAL CONSUMER BEHAVIOR vs. BUSINESS CUSTOMER BEHAVIOR Individual consumer behavior is the process of how “individuals” act in selecting, using and disposing of goods, services, ideas or experiences to satisfy their needs and wants. Business customer behavior or organizational buying behavior on the other hand is a decisions making process by which “formal organizations” identify, evaluate and select among alternative brands or suppliers to satisfy their needs for products or services. When, why, how, and where individual consumers buy or do not buy a product? What about the business customers? How do they behave? What kind of a buying process do the individuals and business customers go through? What are the factors affecting their behavior and in what ways the behavior of these two parties differ? Answers to all these questions raised will be examined through several examples to come up with the major differences between the individual consumer buying behavior and the business customer buying behavior. As individual consumers we make countless number of buying decisions throughout our lives. While some of our purchases are made unconsciously or requires low involvement, in some others we go through a long decision process. But in general, the individual consumer behavior is related to internal or external stimuli, shaped by consumer...
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...market information from a wide variety of sources—ranging from traditional marketing research studies to mingling with and observing consumers to monitoring consumer online conversations about the company and its products. Then, they use the marketing information to develop important customer insights from which the company can create more value for its customers. 2. Discuss the sources of internal data and the advantages and disadvantages associated with this data. Internal databases are electronic collections of consumer and market information obtained from data sources within the company network. Information can come from many sources. For example, information on customer transactions, demographics, psychographics, and buying behavior can come from the marketing department. The customer service department can provide information on customer satisfaction or service problems. The accounting department can provide financial data. Operations reports on production schedules, shipments, and inventories. The sales force can provide information on resellers and competitors, and channel partners provide point-of-sale data. Harnessing such information...
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...of customer oriented marketing strategies, the company must understand what factors influence consumer buying behavior and how they make purchase decisions to satisfy their needs and wants. One great way to find market opportunities for Staples products or services is to study the social factors affecting the office supply retailing industry. New social trends transform how goods are built and sold. Business opportunities grow out of the changes in the social order. In general, consumers are moved by a complex set of deep and subtle emotions. (Management Study Guide, 2008) Their behavior result from deeply held values and attitudes; their perception of the world and their place in it, from common sense, impulse or just plain daily decision. There are also several stages through which the consumer exhibit before deciding to purchase goods or services. Three of these most important factors to consider during this marketing strategy development are, 1.Social Factors 2.Psychological Factors and 3.Personal Factors. We will focus our attention to the social factors and the effects it has on consumers buying behaviors. Social Factors Staples inc has the following statement that is used to describe its social engagement and the business strategy behind its operations. It says, “We take satisfaction in our contributions to local economies: selling products and services that business owners, households, educators, students and others use to thrive and succeed; employing local workers...
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...European Journal of Business and Management ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online) Vol 3, No.3 www.iiste.org Effective advertising and its influence on consumer buying behavior Zain-Ul-Abideen (Corresponding Author) Department of Management Sciences, Abbasia Campus, The Islamia University of Bahawalpur, Punjab, Pakistan. E-mail: zuabideen@gmail.com Salman Saleem Department of Business Administration, Federal Urdu University of Arts, Science & Technology, Islamabad, Pakistan. E-mail: salmankhan302@gmail.com Abstract Advertising is a form of communication intended to convince an audience (viewers, readers or listeners) to purchase or take some action upon products, information, or services etc. This paper investigates the relationship between independent variables which are environmental response and emotional response with attitudinal and behavioral aspect of consumer buying behavior, by tapping the responses of 200 respondents using telecommunication services from Rawalpindi, Islamabad, and Lahore (cities of Pakistan). The major findings of the study demonstrate an overall normal association between the variables but in-depth analysis found that emotional response of consumer purchase behavior is the variable that results into strong association with the consumer buying behavior. It is true that people purchase those brands with which they are emotionally attached. This study reports new evidences in the field of consumer buying behavior of consumers pertaining...
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...Consumer Buying Behavior of Lawn customers in Karachi Seema Mumtaz Std 16655 Mphil (BM) Synopsis Proposed Research Topic: Impact of Brand Image and Advertisement on Consumer Buying Behavior of Lawn customers in Karachi Purposes/Aim: The purpose of this study is to examine the impact of brand image and advertisement on consumer buying behavior in the general public at Karachi. Objective of the study: a) To explore the impact of brand image and advertisement on Consumer buying behavior b) To determine factors those are influencing consumers to purchase Branded lawn fabric. c) To find out the female buying behavior about branded lawn wear. Scope of Study: a) This research will help textile marketers and merchandisers in understanding consumers’ preferences about branded/designer lawn. b) Also this research will help textile marketers and merchandisers by providing the essential knowledge of the factors that influence females’ buying intention towards branded lawn fabric. c) This study will guide entrepreneurs in developing strategies for the branded lawn. Background and Existing literature: Brand image and advertisement play a crucial role to boost up any business performance...
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...you learn yesterday? Prof. Dr. Wengler Page 57 Day 2 Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Questions regarding the reading? Prof. Dr. Wengler Page 58 Day 2 Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Current Economic (World) News Prof. Dr. Wengler Page 59 Day 2 Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Agenda 09.00 a.m. – 09.30 a.m. 09.30 a.m. – 10.45 a.m. 11.00 a.m. – 12.15 p.m. Repetition & News Review Selection of Product & Market Competitive Advantage 12.15 p.m. – 01.30 p.m. Lunch-Break 01.30 p.m. – 03.15 p.m. Marketing Intelligence Case Study 1 “Registration of new automobiles in Germany” Consumer Behavior 03.30 p.m. – 05.45 p.m. Prof. Dr. Wengler Page 60 Day 2 1. Selection of Product & Market Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Selection of Product & Market Objectives The aim of the class “Principles of Marketing” is to teach you the tools to develop an own marketing plan for a selected product, which you will have to apply in your first research project. However, the choice of the product and therefore the market, is on your side. In the next hour you have the opportunity to present us the product you selected and on which you are going to write the marketing concept. Again, we are going to use the ‘vernissage’ to present our products to the fellow students. Tasks Introduce your product shortly...
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...|Marketing |[pic]process by which companies create value for customers and build strong customer | | |relationships to capture value from customers in return | |[pic]Market offerings |[pic] | | |some combination of products, services, information, or experiences offered to a market to| | |satisfy a need or want | |[pic]Marketing myopia |[pic] | | |mistake of paying more attention to the specific products a company offers that to the | | |benefits and experiences produced by these products | |[pic]Exchange |[pic] | | |act of obtaining a desired object from someone by offering something in return | |[pic]Markets |[pic]set of actual and potential buyers of a product or service | |[pic]Marketing management |[pic] ...
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...Relationship xiii. Customer Relationship Management xiv. Relationship Building Blocks 6. Customer Value 7. Customer Satisfaction xv. Partner Relationship Management e. Capturing Value from Customers xvi. Customer Loyalty xvii. Share of Customers xviii. Customer Equity 3. The changing Marketing Landscape CHAPTER II : Company and Marketing Strategy Partnering to Build Customer Relationships 8. Strategic Planning 9. Steps in Strategic Planning a. Defining the company mission b. Setting company objectives and goal c. Designing the business portfolio i. Business Portfolio ii. Portfolio Analysis iii. Strategic Business Units (SBUs) iv. Boston Consulting Group (BCG) Matrix 1. Star 2. Cash Cow...
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...Impact of Advertising on Consumers’ buying behavior through Persuasiveness, Brand Image, and Celebrity endorsement Shumaila Ahmed and Ayesha Ashfaq ABSTRACT The present research paper is focusing on the impact of advertising on consumer’s buying behaviors. Brand image, persuasiveness and celebrity endorsement in the advertising are the key factors, which raise the consumers’ intentions towards the product and buying behaviors. The buying behavior is strongly influenced by image of the product which is build by the advertisers. The primary data of the study is collected through questionnaires and secondary data was collected through internet, journals and business magazines. This survey study was conducted in January, 2013. A sample of 120 respondents was taken, out of which 50 were in government or semi-government services, while 30 were taken from business class and the rest 40 were private employees. The study explores that a creative and well executed advertisement has always a great impact on the buying trends or purchasing behaviors of the consumers. At the same time quality of the product and price are also included with their strong impact on buying behavior of consumer. Likewise to some extent the celebrity endorsement also matters in the buying behavior. Therefore the study concludes that the positive impact of all these factors, on the buying behavior of the consumer proves the loyalty of consumer towards brand which helps in promotion of the...
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...the market a brand must classify a brand strategy that enable its customers and audience to understand it added value proposition on the basis of quality, efficacy and appeal. The brand name not only helps to identify a product but also its producer or manufacturer. A brand also helps in delivering of the message clearly and confirms the credibility of any business entity. Brand name is also indicator of the characteristics of the product. Branding could be defined as a ‘promise delivered’ and to be successful a business entity must be able to deliver that promise every single time. For branding most of the business entities come up with a short statement that describes the purpose of your brand. The branding strategies help in launching a product in the market and in creating a brand that will expand and mature in a saturated market place. To make effective branding strategies is always crucial for a business entity as they have to live with the decision for a long time. Strong branding strategies can affect the consumer behavior by developing emotional connection and strengthening the buying habits. The brand for a business entity is the symbol, design and name that differentiate the product or service of an organization from other. The brand...
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