Buying Process
A map of the interaction between the vendor and the customer. In the case of pharmaceuticals, the Buying Process illustrates the physician and patient interaction from origination to persistence and identifies key behaviors most relevant to driving growth. It should identify at what stage competition is occurring, opportunities to increase product purchase and usages, plus determine the financial / sales impact that may result from changing behaviors.
Implications
The series of steps a buyer goes through when deciding to purchase a product or service, often involving stages like need recognition, information search, evaluation, purchase, and post-purchase behavior.
Example
Example: A B2B company analyzes the buying process of its clients to tailor its marketing efforts to each stage, from initial interest to final purchase.
Related Terms
Different from the sales process, which focuses on how sellers approach potential buyers, the buying process looks at the journey from the buyer�s perspective.
Get INSTANT comprehensive market research of any industry
Chat with AII Consultant Now!
