Archive for 'MARKETS' Category
Rational Behind PLC
The theory of diffusion and adoption of innovation provides the underlying rational. When a new product is introduced, the company has to stimulate awareness, interest, trial and purchase. This takes time, and at introduction stage only a few persons (innovators) will buy it. If the product is satisfying, larger number of buyer are drawn in. [...]
Types and Stages of Purchasing Processes
There are four product related purchasing processes.
1) Routine Products: These products have low value and cost to the customer and involve little risk. Customer will seek the lowest price and emphasize routine ordering. Suppliers will offer standardise and consolidate orders through blanket contracts and facilities management.
2) Leverage Products: These products have high value and cost [...]
Business Buying
Organisational Buying as the decision- making process by which formal organizations establish the need for purchased products and services and identity, evaluate and choose among alternative brands and suppliers.
The business market consists of all the organizations that acquire goods and services that are sold, rented, or supplied to others.
Business markets have several characteristics that contrast [...]