Business Purchases - Explained
Types of Purchase Decisions Made by Businesses?
Written by J. Mance Gordon
Updated at April 17th, 2024
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
What Types of Purchase Decisions do Businesses Make?
The following are types of purchase decision:
- Rebuy - Rebuy is when a business runs out of something and needs to buy more. From the marketing standpoint, this is what we would like to see. It means we continue to do business.
- Modified Rebuy - This is where you are purchase more or a slightly different version of something that you have previously purchased and used up. There is a bit more time and effort involved than a straight rebuy
- New Task Rebuy - This is where we need to repurchase a product, but we decide that we want to try something different from what we previously purchase. This required customer effort in figuring out what options we have and then which one is best option to purchase.
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?