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Saturday, 23 November 2013

Influences in making buying decision

A buyer approach in making a decision is affected by four main influences, these being:
  1. Transactional Process Buyer - considered as a short-term sale. Buyer already knows what he/she needs. From a seller perspective little or no product knowledge is required.
  2. Consultative Process Buyer – considered as a long-term sale. Both the buyer and the seller collaborate where the seller has to develop a relationship (in terms of needs and wants) with the buyer. In this manner crafting a solution for the buyer to achieve the buyer’s objectives
  3. Strategic Alliance Buyer - An arrangement between the buyer and the seller that have decided to share resources to undertake a specific, mutually beneficial project. This is usually happens between companies. 
  4. Consumer Routine, Limited or Extended Problem Solving – Buyers will not always engage in the five-stage buying decision-making process. The amount of effort exerted in information gathering and problem solving may vary. In reality, they may skip or minimise one or more stages depending on the level of involvement.
In all of this remember to review the buyer's "understanding", "black box" and "perception".