How Businesses Identify Purchasing Options - Explained
How do Businesses Identify Purchase Options?
Written by J. Mance Gordon
Updated at April 17th, 2024
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How do Businesses Identify Purchase Options?
Business search for purchase options very similarly to individual consumers. Some of the methods for identifying options include:
- Internet - The internet holds a wealth of potential purchase options. It often connects business directly with distributors. This lowers the price of purchases based upon the sale of the purchases (bulk purchases).
- Salespeople - Businesses are often approached by sales agents from business who seek to supply products to other businesses.
- Purchasing Agents - The purchasing agents within one business may consult purchasing agents from other businesses regarding product suppliers.
- Competitive Bids - The business may put out a request for proposal or request for bid from the public. This is particularly common with governmental organizations.
Related Topics
- Business to Business (B2B) Definition
- Business to Consumer (B2C) Definition
- Business to Government (B2G) Definition
- Business Customers are Different from Consumers
- What Drives Purchase Decisions?
- Types of Purchase Decisions
- Who Makes Purchase Decisions?
- Role of the Business Buying Center
- Identifying Options for Purchase
- Benefits/Detriments of B2B Relationships
- What is Included in a Business Relationship?
- What are Kickbacks a Bad Thing?