1. It is important for marketers to understand the consumer buying process for their good, because to do so will put the marketer in a better position to influence the decision at key inflection points, and to remove barriers to purchase. Some purchases are low involvement, and gas is one of them (Radder, 2008). The product is a commodity, and I cannot genuinely differentiate between gasolines. Thus, price and convenience are the two most important variables in determining where I purchase gas. Price only matters if gas prices are high, or if I’m feeling broke. Convenience is the most important to me, because I dislike going out of the way for gas. I know that as the tank gets low, I establish my need, but that I have a fairly long window with which to address the situation, and my need for optimizing convenience will be met.
A new home entertainment system is a high involvement purchase. It costs a lot of money, and I make this purchase very seldom. A really good system can last years, and that would be my underlying logic. One could definitely take the approach of buying cheaper electronics, and replacing them more frequently, but a home entertainment system will still be an infrequent and expensive purchase, relative to most purchases. I would have a fairly high stake in the purchase since I will be interacting with the home entertainment system almost every day, and the quality of the system will affect the quality of those interactions. So this buying process will likely involve a lot more research, and it will involve a longer time frame. This decision could take a while, because I would want to get it right.
There are not that many similarities between the purchases. The level of product differentiation, the cost, the frequency of purchase and the stake that I have are all different, and that means these two things have very different buying processes. I am struggling to think of what similarities there might be between the two. There are exceptions – people who know a lot about gasoline, or people who have so much money they just spend on the most...
B2B & B2C Ethics Because of the application of Internet, the present society is capable turning the geography to become history by wiping out of geographical barriers in the sphere of information transactions. The tremendous growth of e-business has facilitated economic globalization. Internet commerce has given rise to existence of various kinds of business models. (Business ethics and global marketing client confidentiality statement) Broadly the websites concerned with internet trading has been
B2B and B2C Commerce Matrix In today's global economy, E-commerce is a dynamic force, encouraging more and more businesses to conduct "business" online. B2B transactions can be a very effective way of bolstering small business, and transforming simple business strategies to complex business partnerships. B2B or business-to-business e-commerce is an efficient and often life-changing move for many small businesses interested in participating in the global market. On the other hand, many businesses
Marketingprofs.com/ea/qst_question.asp?qstID=1401 Bruemmer B. (2005) Search Plays Key Role in B2B Sales. Retrieved November 18, 2006, at http://www.searchengineguide.com/bruemmer/004807.html Harris, L., & Dennis, C. (2002) Marketing the E-Business. London: Routledge. How to Market Your B2B/B2C Web Site. Retrieved November 14, 2006, at http://www.associatedcontent.com/article/23319/how_to_market_your_b2bb2c_web_site.html www.questia.com/PM.qst?a=o&d=104237388 Jackson, P., Harris, L., & Eckersley, P.M. (Eds.). (2003) E-Business Fundamentals: Managing Organisations in the Electronic Age. New York: Routledge. A www.questia.com/PM.qst?a=o&d=101318758 Karake-Shalhoub, Z. (2002). Trust and Loyalty in Electronic Commerce: An Agency Theory
B2C and B2B Markets The objective of this study is to examine that while marketers acknowledge that relationship marketing is important to both B2C and B2B markets, some believe it is more important in a B2B market and why it is that they feel this way and finally if they are correct. The concept of relationship marketing based on delivery of superior value is reported to place emphasis on the
Consumer Buying Process There are five main stages to the consumer buying process. These are need recognition, information search, alternative evaluation, purchase decision and post-purchase behavior (The Consumer Factor, 2016). The first step, need recognition is the point at which the consumer begins the process, realizing that a purchase needs to be made. This is a good place to start the marketing process, as many companies do. The consumer will determine
The greater the level of support and information a customer needs to make a decision on which product to buy, the more likely a retail channel will be the best approach. Conversely if a product is by nature highly commoditized or is so popular it has strong customer trust, digital channels are the best approach, as they will drop the cost per transaction (Edelman, 2010). Companies who are excelling at
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