The Business Buying Process


The Business Buying Process



1. Problem recognition

The first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or a service

2. General Need Description

The stage in the business buying process in which the company describes the general characteristics and quantity of a needed item

3. Product Specification

The stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item

Value Analysis

An approach to cost reduction in which components are studied carefully to determine it they can be redesigned, standard, or made by less costly methods of production.

4. Supplier Search

The stage of the business buying process in which the buyer tries to find the best vendor

5. Proposal Search

The stage of the business buying process in which the buyer invites qualified suppliers to submit proposals.

6. Supplier Selection

The stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers

7. Order-routine Specification

The stage of the business buying process in which the buyer writes the final order with the hosen supplier(s), listing the technical specifications, quantity needed, expected time of delivery, return policies, and warranties.

8. Performance Review

The stages of the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement.

Copyright © STUDY FOR BUSINESS - Blogger Theme by Logics IT & Technology