Steps in the Business Buying Decision Process Explained
Understand the formal approach businesses take in purchasing decisions. Learn about the steps involved, from identifying needs to re-evaluating purchases, to successfully navigate the business buying decision process.
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LIBYAN INTERNATIONAL MEDICAL UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION The Steps in The Business Buying Decision Process Presented by : Joumana Elmahgoub ID:3172
CONTENTS INTRODUCTION STEPS IN THE BUSINESS BUYING DECISION PROCESS CONCLUSION REFERENCE 2
INTRODUCTION UNLIKE CONSUMER BUYING HABITS, BUSINESSES USUALLY HAVE A MORE FORMAL APPROACH TOWARD PURCHASING 3
STEPS IN THE BUSINESS BUYING DECISION PROCESS 4
1.IDENTIFY IT'S IMPERATIVE THAT BUSINESSES MAKE DECISIONS TO BUY PRODUCTS AND SERVICES THAT WILL ENHANCE THEIR OPERATIONS IN SOME WAY. THE BUSINESS NEED: DETERMINE ABUDGET: 2. ABUDGET CAN HELP KEEP BUSINESS FROM OVERSPENDING. 5
3.SELECT SELECT INDIVIDUALS ON YOUR STAFF TO RESEARCH OPTIONS FOR THE PURCHASE YOUR COMPANY WANTS TO MAKE. A PURCHASING TEAM : 4.DEFINE SPECIFICATIONS: WORK WITH THE PURCHASING TEAM TO DEVELOP A CLEAR PICTURE OF THE SPECIFICATIONS FOR THE PRODUCT OR SERVICE YOUR COMPANY IS PLANNING TO BUY. 6
5.SEARCH FOR OPTIONS 6.MAKE THE PURCHASE : DETERMINE HOW YOUR COMPANY PLANS TO PAY FOR THE PURCHASE AND IDENTIFY THE PURCHASING TEAM MEMBER TO SIGN OFF ON THE PURCHASE. 7
7.RE-EVALUATE TO DETERMINE WHETHER OR NOT THE PURCHASE IS WORKING FOR YOUR TEAM THE PURCHASE: 8
CONCLUSION TO NAVIGATE THE BUYING DECISION PROCESS SUCCESSFULLY, YOU NEED TO PROVIDE THE RIGHT TYPE OF INFORMATION AND ENSURE THAT YOUR SALES REPRESENTATIVES ARE CONTACTING THE RIGHT DECISION MAKERS 9
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