BUYER BEHAVIOR IN B2C AND B2B MARKETS1. B2C decisions involve thousands and millions of individuals, friends and families buying for ownconsumption while B2B decisions involve considerable less people buying as a group for the organization
2. However the DMU will larger and more complex in B2B markets (directors, engineers, financiers, directors, lawyers, users etc) compared with B2C (husband, wife, children) 3. There are many suppliers and many, many buyers in B2C but only a relatively few buyers and sellers in B2B 4. B2B purchases will often run into large amounts of money, often millions of dollars, whilst B2C purchases usually involve relatively smaller amounts of money 5. B2B decisions (DMP) can take days, weeks, months or sometime years to come to fruition. B2C decision will usually be made much quicker 6. One B2B decision can affect the very existence of an organization whilst this will seldom be the case with most B2C decisions 7. B2B buyers are limited in number and are usually clustered in small geographical areas whilst B2C, although concentrated in cities, towns and villages, are widespread and can be found anywhere 8. B2B buyers are now more professional than ever in the past and a professional supplier approach will be expected. B2C buyers, although more informed than in the past, will generally be at a much lower level of awareness, more amateur 9. B2B decisions tend, in the main, to be made on strictly rational criteria whilst B2C decisions, although having an element of rationality about them, are made on symbolic and emotional criteria |
|