We discussed the types of buyers in B2B transactions—producers, resellers, governments, and institutions—and identified the different types of buy classes in the B2B market, as well as the roles of those in the buying… Finally, we explored some ethical issues with respect to the B2B buying process, including Transparency International’s Corruption Perceptions Index and the Foreign Corrupt Practices Act (FCPA)

In this chapter, we defined business-to-business (B2B) markets and buying behavior and explored the differences between business-to-consumer (B2C) and B2B markets. We also reviewed the eight stages of the B2B buying process: problem recognition, need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and…

buy classes — buying situations that are distinguished on four characteristics: newness to decision makers, number of alternatives to be considered, uncertainty inherent in the buying…. B2B buying process — encompasses 8 stages: problem recognition, need description, product specification, supplier search, proposal selection, supplier selection, order-routine specification…. institutions — organizations, establishments, foundations, societies, or the like devoted to the promotion of a particular cause or program, especially one of a public, educational, or…. resellers — companies or individuals (merchants) that purchase goods or services with the intention of selling, leasing, or renting rather than consuming or using them.