Published in Marketing and Strategy Terms category by MBA Skool Team
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.
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.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.