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How To Understand Your Buyers

By on March 15, 2014 in Business Tips with 0 Comments

Understanding your buyers can allow you to serve them in the best way.


In order to serve your buyers in the best manner, you need to understand your buyers first. Better understanding will lead to effective B2B relations between the buyer and the supplier. Lets discuss some of the steps that can help a supplier in understanding his buyers:

Dig the information : The first thing that a supplier needs to do in order to know his buyer is to dig information about the buyer’s company. The supplier should collect information about the company’s location, profile, business goals, achievements, etc. The company’s website can be a great source of information for the supplier. This will help the supplier to understand the needs of the buyer’s company and will allow him to serve the buyer in the best way.

Classify the Buyers: Classification of the buyers into categories of bigger, medium and smaller buyers can further help the supplier in understanding its buyer. The companies can be classified on the bases of its size (employees and working area) , yearly turn over and the purchasing power.

Understand the factors that a Buyer keeps in mind while selecting the supplier: For understanding the buyer, the supplier should know the factors that effects the purchasing decision of a buyer. Some of those factors are:

Product: The product is the main consideration for a buyer. The shape, size ,color and features of the product should match the requirement of the buyer. For example, a buyer needs 70 pieces of Sony Cybershoot cameras with 16.1 megapixels and 8x optical zoom in black color. Here the color and features are the main consideration for the buyer. He will deal with only that suppliers that can fulfill his requirements.

Price: Price is another important factor that a buyer consider while selecting a supplier. Every buyer wants to do optimize use of his money. The supplier offering the lowest price have the largest probability of getting selected. For example, a shoe company is looking for a supplier of leather that can supply bunk leather. One supplier is providing leather for $ 1.25-2.95/ yard and another one is providing it in $1.20-1.75/ yard. So the second supplier will be preferred by the buyer.

Service : Service includes the timely response to the queries and requests of the buyers. Other complimentary services like help in loading and unloading the products or some transportation facilities can make a buyer to select a particular supplier over the others.

Quality: Quality of the product is another important factor to a buyer while selecting the supplier. The quality certification like I.S.I mark or other awards or certificate received by the supplier’s company can attack the buyer. For example: A buyer wants 1000 piece of household gas lighters. He will prefer the suppliers who are offering I.S.I marked products over the other suppliers.

Logistics and transport: Timely and safe deliver of products is another factor that counts. Most of the buyers demand guarantee on the delivery time. Proper and reliable shipments and record of timely delivery with earlier buyers can be a plus point.

Proper understanding by the suppliers help the buyers in getting the products and services up to his expectation. Understanding the needs and aspirations of the Buyers is profitable for the supplier in not only getting the deals but also in maintaining good relations with the buyers.

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