Wk. 4 EOC: Business Vs. Consumer Buying Behavior

Wk. 4 EOC: Business Vs. Consumer Buying Behavior

Consumers buy for the emotional attachment they have to products.

“At a general level, marketing medical imaging technology or diesel locomotives to business customers is like selling refrigerators to final buyers. It requires a deep-down understanding of customer needs and customer-driven marketing strategies that create superior customer value.” - Marketing An Introduction Gary Armstrong, Philip Kotler

“Also, with GE’s business customers, buying decisions are much more complex. An average consumer buying a refrigerator might do a little online research and then pop out to the local Best Buy to compare models before buying one. In contrast, buying a batch of jet engines involves a tortuously long buying process, dozens or even hundreds of decision makers from all levels of the buying organization, and layer upon layer of subtle and not-so-subtle buying influences.” - Marketing An Introduction Gary Armstrong, Philip Kotler