What is Business market and Business buyer behaviour?

Organisation not only are sellers but also buyers. The Business Markets includes organisations that buy products on large scale either for production of another product or for their own use. They buy products and add value to the same for selling to Consumers.

These organisations are end users, and buy products and services for their operations. For example, a candy bar producer needs to buy materials to produce and package the candy bar. It needs to buy milk, sugar, preservatives, paper for packaging etc. from suppliers to produce the candy bar.

Organisations also buy products and services for their own consumption instead of adding value to them for selling. For example, buying electric fans, air conditioners, stationary, buying of financial services like insurance for the company as well as for its employees, etc. These also include wholesalers and retailers that acquire good for reselling them at profit.

Business buying is buying products and services by an organisation for end use purpose.

Business buying behaviour refers to the actions of employees of an organisation to buy products and services for the organisation which includes the decision making process of selection of suppliers and bearing post purchase consequences. (Note – To understand in detail the difference between Consumer and Business markets, please click on the topic “Marketing Concepts”; What is a market? Also explain various types of markets.)