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Chapter 5: Understanding Consumer and Business Markets

5.1 Factors That Influence Consumers’ Buying Behavior

5.2 Low-Involvement Versus High-Involvement Buying Decisions and the Consumer’s Decision-Making Process

5.3 The Characteristics of Business-to-Business (B2B) Markets

5.4 Types of B2B Buyers

5.5 Buying Centers

5.6 Stages in the B2B Buying Process and B2B Buying Situations

5.7 Ethics in B2B Markets

 

 


Section 5.1 Factors That Influence Consumers’ Buying Behavior, Section 5.2 Low-Involvement Versus High-Involvement Buying Decisions and the Consumer’s Decision-Making Process, Section 5.3 The Characteristics of Business-to-Business (B2B) Markets, Section 5.4 Types of B2B Buyers, Section 5.5 Buying Centers, Section 5.6 Stages in the B2B Buying Process and B2B Buying Situations, and Section 5.7 Ethics in B2B Markets are edited versions of the chapter ‘Chapter 3 Understanding Consumer and Business Markets’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 5.1: Marketing to men; Created new title for Figure 5.2: Age and Stage of Life; Created new title for Figure 5.4: Sub-culture; Created new title for Figure 5.5: Luxury brands; Created new title for Figure 5.6: Involvement; Created new title for Figure 5.8: Product Evaluation; Created new title for Figure 5.9: Product disposal; Created new title for Figure 5.11: Producers; Created new title for Figure 5.12: Selling to the Government; Created new title for Figure 5.13: The F-22; Removed the last Created new title for Figure in “Types of B2B buyers”; Created new title for Figure 5.14: Gatekeepers?; Created new title for Figure 5.15: An Example of Product Specifications Developed for a B2B Purchase; Created new title for Figure 5.16: A Scorecard Used to Evaluate RFPs; Created new title for Figure 5.17: Code of Ethics; Added learning objectives for sections 5.1, 5.2, 5.3, 5.4, 5.5, 5.6, and 5.7.

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Chapter 5: Understanding Consumer and Business Markets Copyright © 2017 by Babu John Mariadoss. All Rights Reserved.

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