Introduction to retail purchasing
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The document discusses the retail buying process and how it varies for different types of retail organizations. It describes the key participants in the buying center and the typical stages of the buying process. Additionally, it examines how organizational factors, interactions between members of the buying center, and personal attributes can influence the buying decision.
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Retail Buying and Merchandising
The document summarizes key aspects of retail management. It discusses that retail involves the sale of goods to end consumers for personal use. It also discusses different types of retailers from conventional to modern. The rest of the document outlines the retail management process including planning, buying/making, moving, and selling goods. It provides details on roles like merchants and buyers. It also discusses prerequisites and components of merchandising plans like assessing category performance. Finally, it briefly touches on types of buying models and centralized vs decentralized buying approaches.
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Retailers must make competent decisions about what merchandise to buy, how much to buy, and when to buy it. The merchandise selection communicates the type of company to consumers and allows stores to differentiate themselves. Merchandise management focuses on planning and controlling retailer inventories by balancing financial requirements with a merchandise purchasing strategy. It involves acquiring, handling, and monitoring merchandise categories for a retail organization. Retailers use various methods to plan and calculate inventory levels like basic stock, percentage variation, weeks' supply, and stock-to-sales methods. Visual merchandising is the art of product presentation that puts merchandise in focus to educate and create desire in customers.
Assortment Planning
This document discusses key considerations for retail purchasing and assortment planning. It identifies dimensions of an assortment plan such as price levels, styles, colors, flavors and pack sizes. The document also outlines variables that influence purchasing decisions like quality, quantity, source, price, time and negotiation. Product selection criteria include physical properties, packaging, style, utility and quality. Understanding product lifecycles and trends that impact demand is also discussed.
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The document discusses the key steps involved in the process of buying and merchandising for retailers. It outlines 8 steps: 1) collecting information on consumer needs and vendors, 2) selecting vendors, 3) evaluating merchandise, 4) negotiating with vendors, 5) buying merchandise, 6) receiving and stocking merchandise, 7) re-ordering merchandise, and 8) re-evaluating. For each step, it provides details on the procedures and factors considered, such as understanding demand, assessing vendor quality, determining order quantities based on lead times and costs. The overall process aims to purchase and promote the right products at the right time and price points.
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The document provides an overview of distribution systems and logistics management. It defines distribution as the transfer of goods from manufacture to consumption, including warehousing, packaging, and transportation. It also discusses the marketing mix, channels of distribution, elements of distribution management, and the importance of distribution strategies. Finally, it covers topics like inventory management, order processing, and the objectives and functions of logistics management.
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This document discusses business markets and organizational buying. It covers key differences between business and consumer markets. The business buying process involves multiple roles and stages. Buyers consider various factors like price, quality, and relationships. Suppliers build trust and collaborate with buyers to establish long-term relationships. Various research methods and tools help understand customer needs better to improve the buying and decision process.
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The document discusses consumer behavior and organizational buyer behavior. It defines consumer behavior and explains why marketers should study it. It describes Maslow's hierarchy of needs and the consumer decision making process, which involves problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. It also discusses cognitive dissonance and organizational buyer behavior, including the decision making unit and types of buying situations.
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The document discusses developing merchandise plans for retailers. It covers merchandising philosophy, functions, and types of merchandise including staple, assortment, fashion, seasonal, and fad merchandise. Factors to consider in merchandise planning include forecasts, innovativeness, quality, brands, timing, allocation, and category management. Effective merchandise planning requires analyzing sales forecasts, product types, quality factors, branding decisions, timing of purchases and sales, allocating space and inventory, and using category management strategies.
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Retail Buying and Merchandising
The document summarizes key aspects of retail management. It discusses that retail involves the sale of goods to end consumers for personal use. It also discusses different types of retailers from conventional to modern. The rest of the document outlines the retail management process including planning, buying/making, moving, and selling goods. It provides details on roles like merchants and buyers. It also discusses prerequisites and components of merchandising plans like assessing category performance. Finally, it briefly touches on types of buying models and centralized vs decentralized buying approaches.
Merchandise management
Retailers must make competent decisions about what merchandise to buy, how much to buy, and when to buy it. The merchandise selection communicates the type of company to consumers and allows stores to differentiate themselves. Merchandise management focuses on planning and controlling retailer inventories by balancing financial requirements with a merchandise purchasing strategy. It involves acquiring, handling, and monitoring merchandise categories for a retail organization. Retailers use various methods to plan and calculate inventory levels like basic stock, percentage variation, weeks' supply, and stock-to-sales methods. Visual merchandising is the art of product presentation that puts merchandise in focus to educate and create desire in customers.
Assortment Planning
This document discusses key considerations for retail purchasing and assortment planning. It identifies dimensions of an assortment plan such as price levels, styles, colors, flavors and pack sizes. The document also outlines variables that influence purchasing decisions like quality, quantity, source, price, time and negotiation. Product selection criteria include physical properties, packaging, style, utility and quality. Understanding product lifecycles and trends that impact demand is also discussed.
buying and merchandising
The document discusses the key steps involved in the process of buying and merchandising for retailers. It outlines 8 steps: 1) collecting information on consumer needs and vendors, 2) selecting vendors, 3) evaluating merchandise, 4) negotiating with vendors, 5) buying merchandise, 6) receiving and stocking merchandise, 7) re-ordering merchandise, and 8) re-evaluating. For each step, it provides details on the procedures and factors considered, such as understanding demand, assessing vendor quality, determining order quantities based on lead times and costs. The overall process aims to purchase and promote the right products at the right time and price points.
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The document provides an overview of distribution systems and logistics management. It defines distribution as the transfer of goods from manufacture to consumption, including warehousing, packaging, and transportation. It also discusses the marketing mix, channels of distribution, elements of distribution management, and the importance of distribution strategies. Finally, it covers topics like inventory management, order processing, and the objectives and functions of logistics management.
Analyzing Business Markets
This document discusses business markets and organizational buying. It covers key differences between business and consumer markets. The business buying process involves multiple roles and stages. Buyers consider various factors like price, quality, and relationships. Suppliers build trust and collaborate with buyers to establish long-term relationships. Various research methods and tools help understand customer needs better to improve the buying and decision process.
Introduction to Consumer Behavior
The document discusses consumer behavior and organizational buyer behavior. It defines consumer behavior and explains why marketers should study it. It describes Maslow's hierarchy of needs and the consumer decision making process, which involves problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. It also discusses cognitive dissonance and organizational buyer behavior, including the decision making unit and types of buying situations.
Developing merchandising plan
The document discusses developing merchandise plans for retailers. It covers merchandising philosophy, functions, and types of merchandise including staple, assortment, fashion, seasonal, and fad merchandise. Factors to consider in merchandise planning include forecasts, innovativeness, quality, brands, timing, allocation, and category management. Effective merchandise planning requires analyzing sales forecasts, product types, quality factors, branding decisions, timing of purchases and sales, allocating space and inventory, and using category management strategies.
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This document provides an overview of different buying systems and inventory management techniques used by retailers. It discusses staple and fashion merchandise buying systems, considerations for determining order quantities, forecasting demand, calculating order points, open-to-buy planning, allocating merchandise to stores, vendor evaluation, and the retail inventory method. Key aspects covered include basic stock lists, buffer stock, exponential smoothing, ABC analysis, sell-through analysis, weighted vendor evaluations, and the steps to use the retail inventory method to determine inventory value.
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Retail merchandising involves planning, buying, and selling merchandise and is a challenging function for retailers. Merchandise management includes analyzing, planning, acquiring, handling, and controlling a retailer's merchandise inventory. Key aspects of merchandising include analysis of customer needs, planning purchases in advance, acquiring merchandise from distributors or manufacturers, handling merchandise distribution to stores, and controlling spending. Merchandising is affected by factors like the size and type of retail organization as well as the merchandise carried.
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This document discusses the key principles and elements of visual merchandising. It outlines that visual merchandising creates a positive image for a business through carefully designing the exterior and interior displays. The main elements of design discussed are space, line, color, shape, texture, form, and value. Other principles covered include balance, emphasis, proportion, rhythm, and harmony. The purpose and responsibilities of a visual merchandiser are also summarized.
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This document discusses various topics related to how retailers buy and manage their merchandise, including national brands and private labels. It covers how retailers negotiate with vendors for national brands, develop private label merchandise, source products globally, and manage legal and ethical issues in buying. Key points include the different types of private labels, global sourcing challenges, building strategic vendor partnerships, and laws around pricing, commercial bribery, and exclusive contracts.
Merchandise planning 26.05.18
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
Consumer Behavior and Social Influence
Consumer behavior is influenced by physiological, safety, social, and esteem needs as described in Maslow's hierarchy of needs. People are motivated to buy things that satisfy needs and wants. Social influences like reference groups, opinion leaders, family, and culture also impact consumer behavior. Perceptions and attitudes further influence what products people choose to buy based on their lifestyles and how purchases fit their self-image and what is valued in their culture. Consumer behavior analysis helps understand why people make different purchasing decisions.
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Details about Merchandise management and product decisions related with. It is a part of Retail Marketing. Interested people can gather knowledge from this PPT
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Visual merchandising is the activity and profession of developing the floor plans and three-dimensional displays in order to maximize sales. Both goods or services can be displayed to highlight their features and benefits. The purpose of such visual merchandising is to attract, engage, and motivate the customer towards making a purchase.
Visual merchandising commonly occurs in retail spaces such as retail stores and trade shows.
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Retail pricing is an integral part of retail marketing that is the source of retailer revenue and communicates store image. Pricing considers demand, competition, policies and economic conditions. The objective is to agree with mission and policies. Retail price consists of cost of goods, expenses and mark-up percentage. Various pricing strategies can be used including cost-based, demand-based, competition-based, everyday low pricing, and odd pricing. Proper retail pricing is key to business profitability.
Assortment Planning Process
The document discusses the assortment planning process for retailers. It defines key terms like variety, assortment, and product availability. It also outlines factors to consider when determining variety, assortment, and product availability like profitability, store characteristics, and complementary merchandise. Additionally, it discusses assortment planning issues specific to internet retailers like determining what products will sell online based on target customers, competition, visual appeal, and shipping. The overall goal of the assortment plan is to select and plan products to maximize sales and profits for a specified period through balancing variety, assortment, and availability.
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This document discusses sales quotas and quota setting procedures. It defines what sales quotas are and their purposes. There are different types of sales quotas, including sales volume quotas, profit quotas, and activity quotas. The document outlines the quota setting procedure which involves setting parameters, adding expected growth, and allocating individual quotas. Sales territories are also discussed, including what they are, different types, and elements of territory management.
Retail buying & merchandising purchasing
This document discusses key aspects of merchandise purchasing for retailers, including branding strategies, global sourcing decisions, the purchasing process, and ethical/legal issues. It describes how retailers establish relationships with vendors, evaluate suppliers, negotiate purchases, handle incoming inventory, and reorder goods. Retailers must consider an optimal brand mix, factors for sourcing overseas, and legal topics like slotting allowances and exclusive dealing agreements with vendors. The overall purchasing process involves identifying, evaluating, and selecting suppliers to purchase inventory from while ensuring proper handling and storage of merchandise in stores.
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The document discusses several key considerations for retailers in setting prices, including customer price sensitivity, competition, costs, and legal/ethical issues. It explains that value is perceived benefits divided by price, so retailers can increase sales by raising benefits or lowering prices. It also discusses factors like competition, economic conditions, price adjustments, and strategies like everyday low pricing, odd pricing, and using gross margin return on investment to evaluate product profitability.
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This document provides an overview of different buying systems and inventory management techniques used by retailers. It discusses staple and fashion merchandise buying systems, considerations for determining order quantities, forecasting demand, calculating order points, open-to-buy planning, allocating merchandise to stores, vendor evaluation, and the retail inventory method. Key aspects covered include basic stock lists, buffer stock, exponential smoothing, ABC analysis, sell-through analysis, weighted vendor evaluations, and the steps to use the retail inventory method to determine inventory value.
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Retail merchandising involves planning, buying, and selling merchandise and is a challenging function for retailers. Merchandise management includes analyzing, planning, acquiring, handling, and controlling a retailer's merchandise inventory. Key aspects of merchandising include analysis of customer needs, planning purchases in advance, acquiring merchandise from distributors or manufacturers, handling merchandise distribution to stores, and controlling spending. Merchandising is affected by factors like the size and type of retail organization as well as the merchandise carried.
Business Markets And Business Buying Behavior
Business Markets
Business Buyer Behavior
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E-Procurement: Buying on the Internet
Institutional and Government Markets
Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others.
Business buying process is the process where business buyers determine which products and services are needed to purchase, and then find, evaluate, and choose among alternative brands
Supplier development is the systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will resell or use in making their own products
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This document discusses the key principles and elements of visual merchandising. It outlines that visual merchandising creates a positive image for a business through carefully designing the exterior and interior displays. The main elements of design discussed are space, line, color, shape, texture, form, and value. Other principles covered include balance, emphasis, proportion, rhythm, and harmony. The purpose and responsibilities of a visual merchandiser are also summarized.
Retail buying
The document discusses the challenges of demand forecasting in the textile industry due to factors like complicated SKUs, fashion trends, and retailer influence over manufacturers. It states that integrating qualitative and quantitative data is key to reducing risk from uncertain demand predictions. The use of systems like quick response, EDI, POS, and MIS can help with order scheduling, inventory costs, sourcing, and assortment planning. The retail buying process involves merchandise planning, assortment planning, and arranging actual purchases with vendors based on evaluation criteria. Forecasting sales and selecting products/styles/colors/sizes uses methods like decomposition, regression analysis, and expert opinions. Rules for product selection include compensatory, lexicographic, and conjunctive
What are the characteristics of products and how do marketers classify products
This document discusses how marketers classify products. It defines a product as anything that can satisfy a need. Marketers classify products based on their durability and tangibility as either durable goods, nondurable goods, or services. Products are also classified based on their use as shopping goods, convenience goods, unsought goods, specialty goods, or industrial goods which include installations, materials and parts, operating supplies, and accessory equipment.
Consumer’s choice & post purchase behavior
Consumer's Choice: Brand Choice and Store Choice factors, Post purchase dissonance, Product use and non-use, Product disposition, Satisfaction and Dissatisfaction, Consumer Complaint Behavior, Satisfaction and Brand Loyalty, Strategic implications of post purchase behavior
What major types of marketing intermediaries occupy this sector
This document discusses different types of marketing intermediaries involved in retailing, wholesaling, and logistics. It describes various types of retailers including store retailers like department stores, supermarkets, and convenience stores. Non-store retailers discussed are direct selling, direct marketing, automatic vending, and buying services. The document also covers corporate retailing, franchising, wholesaling, and the key activities involved in logistics.
Identifying Market Segments and Targets
This document discusses market segmentation and targeting. It defines market segmentation as dividing a market into distinct groups based on characteristics like needs, preferences, behaviors or attributes. There are four levels of segmentation from broad segments to niches to local areas to individuals. Effective segmentation requires identifying distinct customer groups, selecting target segments, and establishing unique benefits. The document outlines different bases for segmentation like demographics, psychographics, behaviors and provides several examples of segmentation models and frameworks.
Culture of Consumer Behavior
This document discusses various aspects of culture and how it impacts marketing. It defines culture and discusses how culture manifests through norms, consumption patterns, values and sanctions. It classifies cultural values into other-oriented, environment-oriented and self-oriented categories. It also discusses how culture is learned through enculturation and acculturation. Key elements that are part of a culture are discussed such as material culture, language, aesthetics, education, religion and social interactions. The document provides examples of how these different elements impact marketing tasks.
Mkt 335 chapters 12 & 13 merchandise planning
This document discusses key concepts and processes related to merchandise planning and management. It covers determining what products to offer, how much inventory is needed to meet sales goals, calculating order quantities and inventory turnover, setting stocking levels, and analyzing merchandise performance through methods like ABC analysis and sell-through analysis. The goal is to balance inventory levels with sales in order to satisfy customer needs while meeting financial objectives.
Chapter 14, Buying Merchandise
This document discusses various topics related to how retailers buy and manage their merchandise, including national brands and private labels. It covers how retailers negotiate with vendors for national brands, develop private label merchandise, source products globally, and manage legal and ethical issues in buying. Key points include the different types of private labels, global sourcing challenges, building strategic vendor partnerships, and laws around pricing, commercial bribery, and exclusive contracts.
Merchandise planning 26.05.18
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
Consumer Behavior and Social Influence
Consumer behavior is influenced by physiological, safety, social, and esteem needs as described in Maslow's hierarchy of needs. People are motivated to buy things that satisfy needs and wants. Social influences like reference groups, opinion leaders, family, and culture also impact consumer behavior. Perceptions and attitudes further influence what products people choose to buy based on their lifestyles and how purchases fit their self-image and what is valued in their culture. Consumer behavior analysis helps understand why people make different purchasing decisions.
Product and Merchandise management
Details about Merchandise management and product decisions related with. It is a part of Retail Marketing. Interested people can gather knowledge from this PPT
Visual Merchandising in Retail Outlets
Visual merchandising is the activity and profession of developing the floor plans and three-dimensional displays in order to maximize sales. Both goods or services can be displayed to highlight their features and benefits. The purpose of such visual merchandising is to attract, engage, and motivate the customer towards making a purchase.
Visual merchandising commonly occurs in retail spaces such as retail stores and trade shows.
Retail Pricing
Retail pricing is an integral part of retail marketing that is the source of retailer revenue and communicates store image. Pricing considers demand, competition, policies and economic conditions. The objective is to agree with mission and policies. Retail price consists of cost of goods, expenses and mark-up percentage. Various pricing strategies can be used including cost-based, demand-based, competition-based, everyday low pricing, and odd pricing. Proper retail pricing is key to business profitability.
Assortment Planning Process
The document discusses the assortment planning process for retailers. It defines key terms like variety, assortment, and product availability. It also outlines factors to consider when determining variety, assortment, and product availability like profitability, store characteristics, and complementary merchandise. Additionally, it discusses assortment planning issues specific to internet retailers like determining what products will sell online based on target customers, competition, visual appeal, and shipping. The overall goal of the assortment plan is to select and plan products to maximize sales and profits for a specified period through balancing variety, assortment, and availability.
Retail selling process 2 (2)
The document discusses the key steps in the sales process including pre-sale preparation, opening the sale, progressing the sale through sales presentations, handling objections, and closing the sale. It emphasizes discovering customer needs, presenting product benefits to motivate purchase, addressing customer concerns, and using different closing techniques like direct closes or limited choices to finalize the sale. The overall goal is to provide customers with sufficient information to make an informed buying decision while guiding them towards a positive purchasing outcome.
Sales quota and sales territory
This document discusses sales quotas and quota setting procedures. It defines what sales quotas are and their purposes. There are different types of sales quotas, including sales volume quotas, profit quotas, and activity quotas. The document outlines the quota setting procedure which involves setting parameters, adding expected growth, and allocating individual quotas. Sales territories are also discussed, including what they are, different types, and elements of territory management.
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Retail pricing
The document discusses several key considerations for retailers in setting prices, including customer price sensitivity, competition, costs, and legal/ethical issues. It explains that value is perceived benefits divided by price, so retailers can increase sales by raising benefits or lowering prices. It also discusses factors like competition, economic conditions, price adjustments, and strategies like everyday low pricing, odd pricing, and using gross margin return on investment to evaluate product profitability.
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retailing
The document discusses key concepts in retailing including:
1) Retailing involves selling consumer goods through multiple channels to earn a profit by satisfying consumer needs.
2) Retailers are classified based on ownership, operations, services, merchandising, and location of sales.
3) Successful retailers adapt to environmental factors like the economy, technology, and demographics.
4) Large retailers are increasingly dictating terms to suppliers through private labels, data analysis, and inventory management.
Analyzing customer & business market
The document discusses factors that influence consumer behavior, including cultural, social, personal, and motivational factors. It also outlines the consumer buying process, which begins with problem recognition and need identification, followed by information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Various consumer decision-making theories are also mentioned, as well as business buying processes and the roles of different participants in organizational purchases.
Models of cb
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
Modelsofconsumerbehaviour 131015040649-phpapp02
This document discusses several models of consumer buying behavior, including traditional models like the economic, learning, and psychological models as well as contemporary models like the Howard Sheth model. It then provides more detailed explanations of several key models, including the economic model and its assumptions and criticisms, the learning model and how it helps marketers understand consumer learning, and the Engle-Blackwell-Miniard model which views consumer behavior as a five-step decision making process along with related variables. The document analyzes several models' strengths and limitations in summarizing consumer behavior.
Modelsofconsumerbehaviour 131015040649-phpapp02
This document discusses several models of consumer buying behavior, including traditional models like the economic, learning, and psychological models as well as contemporary models like the Howard Sheth model. It then provides more detailed explanations of several key models, including the economic model and its assumptions and criticisms, the learning model and how it helps marketers understand consumer learning, and the Engle-Blackwell-Miniard model which views consumer behavior as a five-step decision making process along with related variables. The document analyzes several models' strengths and limitations in summarizing consumer behavior.
Organisational buying
This document discusses organizational buying, which refers to the process by which formal organizations purchase products and services. It involves many people in complex decision-making. Organizational buyers require more information and undergo longer evaluations than individual consumers due to higher quantities, costs, and uncertainty. The document outlines the main differences between organizational and consumer buying, types of organizational buying situations, roles in organizational buying centers, and factors and stages that influence the organizational buying process.
Models of consumer behaviour
This document discusses several models of consumer buying behavior:
- Traditional models include the economic, learning, psychological, and sociological models.
- Contemporary models include the Howard-Sheth model, Nicosia model, Engle-Kollat-Blackwell model, EBM model, and organizational buying models.
- The Nicosia model explains consumer behavior as a system with stimuli as input and behavior as output across four fields: consumer/firm attributes, search/evaluation, purchase, and post-purchase.
Consumer behaviour
This document discusses understanding consumer behavior and key factors that influence purchasing decisions. It differentiates between private consumers and organizational buyers, and identifies important questions to consider like who is involved in the buying process, when and where purchases are made, and what criteria drive choice selection. Both consumer and organizational decision making processes are examined, along with common influences on purchasing behavior.
Analysing consumer buying behaviour and industrial buying behaviour
This document summarizes and compares consumer buying behaviour and industrial buying behaviour. It discusses the key determinants and factors that influence each type of buying behaviour. For consumer behaviour, it outlines internal factors like demographics, attitudes, motivations and learning that affect purchases. External factors discussed include culture, social class, family influences and the consumer decision process. For industrial buying, the stages of the decision process are presented, from recognizing needs to post-purchase evaluation. Key participants like initiators, users and influencers are also identified. Finally, the document compares consumer versus industrial buying, noting differences in purpose, quantity purchased, decision making process, knowledge levels and relationship with sellers.
Analyzing Business Markets and Business Buying Behavior
Marketing 101... Business Market and stuff... reference at the end. lessons in marketing! for educational purposes only...
Marketing Management Series 01
This document discusses customer segmentation and target marketing. It covers the consumer buying process, segmenting markets, and targeting markets. Specifically, it describes segmenting approaches for consumer markets, including demographic, behavioral, psychographic, and geographic segmentation. It also discusses segmenting business markets and the business buying process. The goal of segmentation is to divide the total market into homogeneous segments to better meet customer needs.
Business markets and business buyer behaviour
This slide is specially design for the learning process of business buyer behavior & how it could be implement for our own business.
chapter_3_2.ppt
This document discusses consumer and organizational buyer behavior. It defines consumer behavior and differentiates between consumer and organizational buying. Organizational buyers are more rational and purchases may be to specific requirements. Organizational buying is more complex and negotiation is often important. The consumer decision making process involves needs, information gathering, evaluation, and post-purchase evaluation. Factors like the buying situation, personal influence, and social influence affect this process. Organizational buying behavior considers structure, process, and content and is influenced by factors like buy class and product type.
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Introduction to retail purchasing
- 1. Retail: Purchasing & Supply Chain Management The retail buying process and buying for different types of retail organisation
- 2. Learning objectives At the end of this session students should be able to • Describe the retail buying process • Understand retail buying behaviour • Identify some issues involved in buying for different types of retail organisation
- 3. The retail buying process • Industrial/organisational buying behaviour (OBB) is more complex than consumer buying behaviour • Retail Buyers obtain items for direct resale • Retail buyers are intermediaries between producers & consumers (rarely adapt product) • Retail buyers need to understand consumer behaviour (motivation & decision-making)
- 4. The retail buying process • Who participates? • What happens? • What causes or influences a specific decision? (Tanner, Industrial Marketing Management,1999)
- 5. The retail buying process who participates? OBB theory discusses a ‘buying centre’ or ‘decision making unit’ (DMU) comprising: • User – product is purchased on behalf of user • Influencer – a specialist who advises on the problem (e.g. technical, textile technologist, designer) • Decider – has responsibility to purchase • Buyer – involved in day to day activity (might also be the decider) • Gatekeeper – information on issues such as products or markets distributed via gatekeeper
- 6. The retail buying process What happens? A suggested staged process undertaken before a buying decision is made (the ‘buy-phases’) • Recognition of retail customer need • Write specification of product to satisfy need • Search for a supplier that can produce a product which meets specification • Choose supplier that meets supply requirements • Specify the order (time, quantity, delivery) • Evaluate performance of product and supplier
- 7. The retail buying process What causes or influences the OBB decision? Personal (buyer’s values & beliefs) Interactional including potential suppliers Organisational influences on the buyer Macro-environmental
- 8. The retail buying process organisational influences • Size • Product categories • Organisational culture • Organisational structure
- 9. The retail buying process interactional influences • Conflicts may exist in the buying centre / DMU (e.g. buyer v designer, differential status i.e. seniority of roles) • Buyer’s company and supplier
- 10. Variations in the Buyer’s role ‘The buyer may be responsible for the purchase of a comparatively small range of merchandise or for several complete departments, depending on the size and type of the retail organisation.’ (Source: Cox & Brittain)
- 11. The role of the Retail Buyer The role of a buyer varies depending on the type of organisation for which they are buying. In small companies the owner/manager is often responsible for purchasing, together with other aspects of the business (marketing, merchandising etc.) Larger companies will have a specialist team working in this area. The large companies with more diverse assortments are likely to have larger teams of buyers ensuring greater knowledge and control.
- 12. Centralised / Decentralised Buying The benefit of having one buyer for the whole store is that: ‘consistency within the merchandise mix will be maximised’ The benefit of having a number of specialist buyers is that: ‘greater knowledge and control of merchandise can be developed and maintained’ (Source: Cox & Brittain)
- 13. Seminar • Exercise: desirable attributes of retail buyers • Reading: Varley cpt. 1