E-business Foundations and Basic Concepts Assignment

E-business Foundations and Basic Concepts - Assignment Example They are particularly responsible for specifying what needs to be purchased, the features that the product should have, the quantity to be bought and so on and so forth. In case of a more technically complex products, the buyer actually defines the product’s technical specifications. In the following stage the potential supplier who can supply the required product are sought out for. At this stage, the customer involved in the buying process (in this case a business) seeks out for information regarding the products that they require and the vendors who can meet their demand. Majority of the buyers begin their search online and thereafter attend industry trade shows and henceforth establishes contact with the suppliers either through email or telephone. In order to gain knowledge regarding a variety of supplier buyers also tends to discuss with industry experts, consult trade magazines as well as attend webinars conducted by vendors or perhaps pay a visit to their facilities. T he decision regarding the choice of qualified vendors rests in the hand of purchasing agents. The vendors who have been chosen are asked to complete responses relating to requests for proposal. The proposals are then evaluated and the suppliers are selected. Following this stage, an order routine is established and a post purchase evaluation is conducted and the feedback is reverted back to the vendor (Saylor, 2013). The buying process involved in business to consumer marketing is relatively simple and straightforward where the buyers just has to choose the required product and pay for it either through credit card, debit card or cash. The buyers have the flexibility to shop via online retailers which saves them the extra cost of transportation and as well as saves them the extra effort of being physically present in the shop. Instead they can shop online and pay via internet banking, debit and credit card (Ferrell,