Business Buyer - Definition & Meaning
What is Business Buyer?
A business buyer is one who engages in the purchase or acquisition of a part or the entire business organization. A business buyer can be an individual, a group of individuals or a corporation. They are responsible for the buying raw materials done for the company which are used for business processes and for making the final products.
Like any buyer, these employees also have a business buyer behaviour, which helps them buy high quality goods for the company.
Business buyer roles & responsibilities
There are certain duties of an employee as a business buyer which are as below:
1. Understand and evaluate the needs of the company
2. Understand the various sellers, the quality of products they are offering and the price offered by them
3. Business buyer is responsible for understanding the benefit with respect to the price, from the products the company wants to buy
4. They have to ensure that the orders are placed properly, shipments are done on time, quality of the products is high and that after purchase services are also given to the company.
Influence on business buyers
There are many factors which influence the business buyer behaviour and his / her decision making. These factors are mostly based on organizational needs and personal needs:
1. Organizational factors:
Companies objectives and policies define the type of products needed. Procedures to acquire the products are in place along with the structure and systems. All these factors influence the business buyer.
2. Interpersonal factors:
Motives and perceptions of an employee are important guiding factors along with the personal preferences. Depending upon high qualified an individual is, it decides the buyer preference. Also, attitude toward risk is another important factor.
Hence, this concludes the definition of Business Buyer along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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