Importance Of Price To B2B Industrial Buyers, December 2013 [CHART]
Roughly 6 in 10 B2B buyers from industrial sectors indicate that at least 60% of their purchase decisions are dominated by the immediate purchase price of the equipment, according to a research report [PDF] compiled by TriComB2B in partnership with the University of Dayton School of Business Administration. In all, price dominates in 55% of purchases, per the research, relatively unchanged from 57% in a similar study conducted in 2011. Interestingly, buyers are now conducting more extensive research for smaller purchases.
This year, all respondents said they would conduct a more complete analysis of their purchase for a minimum purchase price of no greater than $100,000. In the 2011 study, about 1 in 5 respondents said the purchase price would have to be greater than that threshold for them to conduct a more extensive analysis. Read the rest at MarketingCharts.