Business Buying Decision Stages

In any marketing firm there should be a set of steps taken when a business is making buying decision. The first stage when a marketing firm is making a decision is when at least one person recognizes there is a problem or a need is present. There are many different ways to find problems in the business. For example some if a machine malfunctions, it then may be modified or disposed of. The second stage of the process is the development of specifics relating to a product. Then the buying center participants look at the problem or need and determine the correct actions to solve the problem. The third stage of the business buying decision process is to search for and evaluate potential suppliers and products. This can involve looking at trade directories, contacting suppliers for recent information and even soliciting vendors proposals. In this stage some firms use value analysis. Value analysis is the evaluation of the quality, design and materials to acquire the product in the best cost-effective way. Some vendors even employ vendor analysis. This a systematic evaluation of both current and potential vendor's based on using the marketing mix. Lastly, the forth stage of the business buying decision process is selecting the product to that should be purchased and which supplier to buy from. Sometimes the buyer may select from more than one supplier which is known as multiple outsourcing. Most others use sole sourcing which is using one supplier. For any firm business decisions are very important factors and should take steps before jumping into a buying decision. (Pride,2009) Do you think businesses should just jump into buying decisions if the deal sounds good, or do you think they should take their time and use the analysis of these four steps?