Analyzing Business Markets:

 The business market comprises all the organisations that take goods and services used in the production of other products and services that are sold , rented  or supplied to others. the major industries making up the business market are agriculture, forestry and fisheries, mining; manufacturing ,construction, transportation , communication, etc and services.

·         Organizational buying is the decision-making process by which formal organizations establish the need to purchase products and services and identify, evaluate and choose among alternative brands and suppliers.

·         Business Markets as compared with Consumer Markets have fewer, larger buyers, have close supplier-customer relationship and more geographically concentrated buyers.

·         Many business buyers would rather buy a total solution to a problem from one seller. This is refered to as systems buying.

·         Purchasing departments were perceived to occupy a low position in the management hierarchy, in spite of often managing more than half the company’s costs. However, nowadays, most purchasing professionals describe their jobs as more strategic, technical, team oriented and involving more responsibility than ever before.