Examples of modified re-buy in the following topics:
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- B2B buying situations vary from B2C buying situations, so B2B marketers must develop different capabilities.
- Such detailed assessment eliminates the risk of buying the wrong product or service.
- Buyers go though three stages of the buying process, which include:
- The problem is that marketers have to face the realities of the B2B buying cycle, which include:
- Like B2C businesses there are similar buying types in B2B sales activities that include new buys, straight re-buys and modified re-buys.
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- While the decision to modify products happens ideally at the design stage, products can be changed during any phase of the life cycle.
- Factors that can influence whether products are modified at the design stage include:
- Product design is an iterative process, and often needs to be modified due to manufacturing constraints or conflicting requirements.
- These product failures usually go back to the manufacturer for modifications, and are later re-introduced to the market.
- Other products are never re-introduced and deleted entirely from the product roadmap.
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- Buying center participants assess problem and need to determine what is necessary to resolve/satisfy it
- This 5 step process is mainly used with new-task purchases and several stages are used for modified rebuy and straight rebuy.
- Understanding the stages of business buying and the nature of customers' buying behavior is important to a marketing firm if it is to market its product properly.
- Buying one can of soft drink involves little money, and thus little risk.
- Buying B2B products is much riskier.
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- Similar to consumers, B2B purchase influences encompass different variables that affect business customers' buying behavior.
- The option of a straight "re-buy" can help to encourage customer retention.
- A straight "re-buy" occurs when a customer buys the same product, in the same quantity, from the same vendor.
- Unlike consumer buyer markets, business customers are less emotional and more task-oriented during the buying and decision-making process.
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- There is a need to know what the customer needs, where they buy, when they buy, why they buy from certain outlets, and how they buy.
- In much the same way that buying specifications of ultimate users are determined, the manufacturers must also discover buying specifications of resellers.
- Of particular importance is the question, "from whom do my retail outlets prefer to buy?
- Although many retailers prefer to buy directly from the manufacturers, this is not always the case.
- Create an efficient channel - improve channel performance by modifying various flow mechanisms.
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- Many of these ORMs are related to older research methodologies that have been re-invented and re-imagined to work with new technologies and the on-the-go conditions of a digital environment.
- This method is also cheaper to use, because there are fewer costs incurred from buying paper, printing materials or paying postage.
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- B2B firms will segment their customers differently, due to different buying habits and procedures between businesses and end-users.
- By determining how the end-use of the product differed according to different users, the manufacturer was able to modify the product, and the marketing of the product, to appeal to these different segments more effectively.
- Marketers may segment markets by identifying groups of customers who consider the same buying factors important.
- Five factors are typically found to be important in most industrial buying situations: product performance, product quality, service, delivery, and price.
- Identifying a group of customers who value the same buying factors as important is difficult, as industrial organizations' and resellers' priorities often change.
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- Point-of-sale displays are sales promotions that are placed where they can easily draw customer attention and trigger impulse buying.
- According to research, almost 66% of all decisions to buy something are made while people are in the store shopping.
- What's more, 53% of these decisions are classified as impulse buying.
- Some are as simple as a metal baskets that are easy to refill or re-stock, with a price sign and no design on the outside.
- They won't buy what they can't see.
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- The negotiation process is an important step during the business-to-business (B2B) buying process.
- Buyers may be interested in modifying their purchase via enhanced product features, price adjustments, or other customer benefits.
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- In keeping with this idea, people will often modify their own behavior to coincide with group norms (even those that profess non-conformity are in some ways conforming with other people who want the same thing).
- Reference groups communicate through opinion leaders, who influence what others do, act, and buy.