Chapter 3: Understanding Buyers
MKTG3007 – Sales and Personal Selling
WEEK 3 LECTURE NOTE
Understanding
Buyers
3
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LEARNING OUTCOMES
3
SELL6 | CH3
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accessible website, in whole or in part.
1. Categorize primary types of buyers
2. Discuss the distinguishing characteristics of
business markets
3. List the different steps in the business-to-business
buying process
4. Discuss the different types of buyer needs
5. Describe how buyers evaluate suppliers and
alternative sales offerings by using the
multiattribute model of evaluation
LEARNING OUTCOMES (continued)
4
SELL6 | CH3
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accessible website, in whole or in part.
6. Explain the two-factor model that buyers use to
evaluate the performance of sales offerings and
develop satisfaction
7. Explain the different types of purchasing decisions
8. Describe the four communication styles and how
salespeople must adapt and flex their own styles
to maximize communication
9. Explain the concept of buying teams and specify
the different member roles
10.Understand means of engaging customers
5
Copyright ©2020 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly
accessible website, in whole or in part. SELL6 | CH3
Categories of Buyers
•Consumer market
•Market in which consumers purchase goods and
services for their use or consumption
•Business market
•Composed of firms, institutions, and
governments who acquire goods and services:
➖To use as inputs in manufacturing process
➖For use in their day-to-day operations
➖For resale to their own customers
LO 1
6
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accessible website, in whole or in part. SELL6 | CH3
Characteristics of Business Markets
•Concentrated demand
•Derived demand
•Higher levels of demand fluctuation
•Buyers as purchasing professionals
•Multiple buying influences
•Collaborative buyer–seller relationships
LO 2
Buying Process
•Recognition of the problem or need
•Determination and description of the
characteristics of the item and the quantity
LO 3
