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What Drives Organizations to Buy Products
Business-to-business marketing has significantly gained ground over consumer marketing over the years, especially with the rise of start-up enterprises due to the ease of entry into consumer markets. However, most marketing agencies fail to reach their goals because they adopt strategies not aligned with organizational market needs. Consumer buying behaviors are different from organizational buying behaviors due to factors such as quantity, quality, intentions for the purchase, transport cost, and price. Hence, marketing strategies used on individuals might not yield results when dealing with institutions. Nevertheless, understanding the motivations of individuals responsible for making organizational buying decisions is critical for marketing success as it informs marketers of who to target, how to reach them, and what information to provide.
Understanding what influences and motivates individuals to buy goods for organizations allows marketers to know who to target. Although organizations acquire products as entities, the decision to make a purchase is the responsibility of a few individuals from various departments within the institution (Mullins & Walker, 2012). Therefore, understanding the motivations of these decision-makers enables marketing agencies to know who to target and how to design marketing campaigns. Familiarizing with these executives interests and needs can help develop efficient marketing solutions, including personal communication and interactions when dealing with a large number of goods, as this can prove more cost-effective.
Understanding what organizational buyers look out for in products or services is critical for business-to-business marketing as it informs agencies of what information to provide. When organizations buy products, they either intend to use them to enhance their efficiency or re-sell them to consumers to make profits (Deepak & Jeyakumar, 2019). As a result, institutional buyers may search for particular specifications and product features that maximize the value of their purchase (Mullins & Walker, 2012). Therefore, marketers are better positioned to offer relevant and reliable information depending on the organizations needs and the intended use. Moreover, knowing whether individuals in the institution seek products for use or resale can help leverage the products price and quality as a competitive advantage. Thus, marketers will be able to attract more buyers and close sales.
Considering the influences and motivations of procurement decision-makers in organizations can also inform marketers of reliable solutions to contact them, reach them, and spread their message. Compared to consumer products that perform well with mass-marketing techniques, organizational goods require more targeted marketing that acknowledges the immediate needs of interested parties (Deepak & Jeyakumar, 2019). Therefore, understanding their influences and motivation can help design marketing strategies that effectively spread the message to the parties involved. For example, a provider can opt to target professionals during training, career development programs, and networking events. Engaging with potential organizational buyers in environments where it is easy to get their attention can play a major role in influencing their purchase decisions.
Although procurement officers make purchasing decisions based on the interests of an organization, their choices are influenced by several factors including personal motivation, peers comments, intended purchasing purpose, and the value of the product. Therefore, since different organizations buy products for varying purposes, understanding what motivates and influences individuals in the decision-making position can help marketers realize success. The information about what pushes decision-makers in institutions to buy products can help in identifying the targets, customizing marketing information, and adopting the appropriate marketing channels. Hence, marketing agencies should pay more attention to these factors as they can limit or facilitate success.
References
Deepak, R. K. A., & Jeyakumar, S. (2019). Marketing management. Educreation Publishing.
Mullins, J., & Walker, O. C. (2012). Marketing Management: A Strategic Decision-Making Approach (3rd ed.). McGraw-Hill Education.
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