WGU D099 Module 3

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D099 M

35 terms loo What are buying centers?the group of individuals within an organization who are involved in the decision- making process for purchasing products or services Identify all the stakeholders in the buying process.Identify each of them with their unique characteristics.· Initiators

• Recognition of Needs
• Influential Awareness

· Influencers

• Expertise and Insight
• Persuasive Power

· Deciders

• Final Authority
• Strategic Perspective

· Buyers

• Procurement Responsibility
• Operational Focus

· Users

• End-User Experience
• Practical Needs

· Gatekeepers

• Control of Information
• Filtering Role

· Champions

• Advocacy
• Influence and Motivation

· Approvers

• Authorization
• Budget Control

· Endorsements

• Reputation Influencers

Validation

What are some of the differences between B2B and B2C buyers?

1.) Decision-Making Process

a. B2B: Complex and Lengthy, Structured

b. B2C: Simpler and Quicker, Personal Preference

2.) Purchase Volume and Frequency

a. B2B: Higher Volume, Infrequent Purchases

b. B2C: Lower Volume, Frequent Purchases

3.) Decision Criteria

a. B2B: Rational and Objective, Complex Evaluation

b. B2C: Emotional and Personal, Simpler Evaluation

4.) Buying Influences

a. B2B: Multiple Stakeholders, Consultative Sales

b. B2C: Individual Influence, Transactional Sales

5.) Sales Cycles

a. B2B: Longer Sales Cycles, Detailed Sales Processes

b. B2C: Shorter Sales Cycles, Straightforward Transactions

6.) Relationship Management

a. B2B: Long-Term Relationship, Account Management

b. B2C: Transactional Focus, Marketing and Promotions

What are the stages in the organizational buying decision process?

1.) Problem Recognition 2.) General Needs Description 3.) Product Specification 4.) Supplier Search 5.) Proposal Solicitation 6.) Proposal Evaluation 7.) Supplier Selection 8.) Order Placement 9.) Performance Review 10.) Post-Purchase Evaluation What is the difference between a straight buy back, New- Task purchase, and Modified rebuy?

Straight Rebuy: a company reorders a product or service that it has previously

purchased and is already using, without any changes to the specifications or terms

New-Task Purchase: a buying situation where an organization is purchasing a

product or service for the first time or entering a new market, which involves a thorough evaluation and decision-making process

Modified Rebuy: an organization reorders a product or service but with some

modifications to the specifications, terms, or conditions compared to the previous purchase What are the factors that influence B2B buying behavior? 1.) Organizational 2.) Economic 3.) Technological 4.) Supplier-Related 5.) Product-Related 6.) Decision-Making 7.) Competitive 8.) Regulatory and Compliance 9.) Cultural and Social 10.) Supplier Relationship

What are the four forms of relationships within organizational buying?

1.) Transactional 2.) Contractual 3.) Collaborative 4.) Partnerships Identify the form of relationship that will form between

two companies based on the product sold:

• Printing paper
• Suppliers selling parts to Boeing for the Dreamliner
• A company selling fraud detection software to a mid-

sized Bank.A.) Transactional B.) Partnership C.) Collaborative