Analyzing business markets - Stages in the buying process
5 important questions on Analyzing business markets - Stages in the buying process
What are the 8 buy-phases? Explain which stages are present in new task, modified and straight re-buy.
- Problem recognition
- General need description
- Product specification
- Supplier search
- Proposal solicitation
- Supplier selection
- Order-routine specification
- Performance review
- New task: all of the above
- Modified re-buy: product specification and performance review. The rest of the steps MAY BE involved.
- Straight re-buy: only product specification and performance review, other steps are NOT involved.
Explain product value analysis (PVA).
How is the internet used in companies that purchase online?
- Catalog sites
- Vertical markets: searching for the best price among thousands of sellers.
- Auction sites
- Spot (or exchange) markets
- Private exchanges
- Barter markets: participants offer to trade goods or services.
- Buying alliances
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What restrictive conditions can be handled when setting a lower price?
- Limited quantities (op=op)
- No refunds
- No adjustments
- No services
What is a blanket contract?
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