DBB3123 & BUYING BBA 5

Description

SESSION	APRIL, 2024
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	V
COURSE CODE & NAME	DBB3123 – BUYING

 

 

Assignment Set – 1

 

 

1. Explain the different Buying functions in detail.

Ans 1.

Different Buying Functions

In the field of business administration, particularly in the retail and procurement sectors, buying functions represent critical activities that drive the efficiency and success of operations. Buying, at its core, involves the selection and procurement of products, services, or materials from external sources. However, the process is nuanced and encompasses a variety of specific functions, each contributing uniquely to the business’s objectives.

Identification of Requirements: The buying Its Half solved only

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2. Explain buying decision process in detail 10

Ans 2.

The buying decision process is a fundamental concept in understanding consumer behavior, particularly in the field of marketing and retail management. It describes the journey a consumer undertakes from recognizing a need to the final purchase decision and subsequent behavior. This process is not just pivotal for consumers but also for businesses to effectively tailor their strategies to meet consumer needs and enhance satisfaction.

Need Recognition: The buying

 

3. Explain different types of data required for research and write a note on process of Market Research

Ans 3.

In the realm of business and marketing, data plays a pivotal role in informing decisions and strategies. There are various types of data that researchers require to comprehensively understand market dynamics, consumer behavior, and other pertinent aspects. Additionally, the process of market research is a systematic

 

Assignment Set – 2

 

4. Explain the various factors which have an impact on the consumer buying behaviour .

Ans 4.

Consumer buying behavior is influenced by a myriad of factors that shape how individuals decide to purchase products or services. Understanding these factors is crucial for businesses as it helps them tailor their marketing strategies to meet consumer needs more effectively. Here are some of the primary factors impacting consumer buying behavior:

Cultural Factors: Culture profoundly influences consumer behavior as it encompasses the set of values, norms, and practices shared by a group of people. Cultural factors include the broader cultural environment, subcultures, and social

 

5. What is the process and strategies to buy from foreign markets

Ans 5.

Buying from foreign markets involves a structured process and strategic planning to ensure that the procurement of goods or services from international suppliers is efficient, cost-effective, and meets the desired quality standards. Here is an overview of the process and strategies for international purchasing:

Process of Buying from Foreign Markets:

1. Needs Assessment: The first step is to clearly define what the business needs. This involves understanding the specific requirements of the products or services, including quality, quantity,

 

 

6. Elucidate terms used when negotiating the terms of sale and Special buying conditions. How retail buyers make purchases under these conditions.

Ans 6.

Negotiating the terms of sale and understanding special buying conditions are crucial aspects of the purchasing process, especially for retail buyers who must navigate complex agreements to secure the best terms for their stores or organizations. Here, we’ll explore common terms used during negotiations and how special buying conditions affect retail buying decisions.

Terms Used When Negotiating the Terms of Sale:

1. Price: This is the amount