Answer to Question #206980 in Management for Prince

Question

SUBJECT : CONSUMER BEHAVIOUR

How is business buying behaviour different from consumer buying behaviour , explain By Giving 8 points of difference ?

Answer 1

1. A consumer purchases services and goods to meet their needs while business purchases services and goods for profit-making either by reselling or using them.
2. The consumer’s purchase amount is relatively tiny, whereas for business, purchase size is significant depending on its size.
3. The buying process for consumers is simple and requires extensive contact, while for business, the process is complex and requires comprehensive contact to be maintained.
4. A consumer's decision is based on themselves, friends, and relatives who might have extensive knowledge of the purchases. At the same time, business buying behaviour is guided by their set goals and objective considering their production and distribution.
5. Consumer markets are associated with small scale buyers, while business markets are associated with few large buyers.
6.  Consumers buy on impulse, while business behaviour is based on its strategic plans.
7. Consumer behaviour emphasises the need for psychological benefits, while business behaviour emphasises emotional benefits.
8.  Consumers buy their products and services from intermediaries while businesses purchases directly from the suppliers.