A class on The Market and is behaviours

1. Buyers, sellers & The Market

2. Observe the company logos at
the left:
-What kind of companies are
these?
-What product or service do they
provide?

3. The customer base is the group of customers and/or consumers that a
business serves. In the most situations, a large part of this group is made up
of repeat customers with a high ratio of purchase over time.

4. What Is the Difference Between
a Customer and a Client?
• The difference between a customer and a client can be rather
confusing, and in some instances, both terms may be used to refer
to any type of business patron. When a company has ongoing
interaction with someone, that person tends to be referred to as a
client rather than a customer. The term "client" tends to suggest the
need for long-term care and consideration. There are also some
industries in which one term is preferred over the other due to the
typical way in which people do business.
Difference in Relationship
• In general, the difference between a customer and a client is that a
protective, ongoing business relationship is formed with a client, but
not necessarily with a customer. For example, a customer might
walk into a store one time, choose a few items, and make a
purchase before leaving. A client, on the other hand, comes back
repeatedly to make additional purchases and establishes a long-
term relationship with a company. This difference can be subtle, but
it is important since many businesses want to establish these long-
term associations.

6. Using vocabulary:
Find an appropriate phrase or word to describe the following:
Buyer, consumer, customer
Customer base
client
Client base, clientele
seller
Seller, vendor
Buyer, purchaser
vendor
Buyer, purchaser, buying manager, purchasing
manager
User, end-user

7. Three terms using the word BUYER:
• Buyer Behaviour
?
• The stages that buyers go through when buying goods or
services. There are many factors that influence buyer
behaviour (see Consumer Buyer Behaviour and Business
Buyer Behaviour and Decision Making Process)
?
• Buying Criteria
• A written, or unwritten, checklist of the requirements of the
purchaser when making a buying decision e.g.: price,
speed of delivery, quality and so on.
• Buying signal
?
• A communication from a prospect indicating they are
ready to make a purchase. Buying signals may be non-
verbal, such as a nod, or verbal, such as an interested
questions egg when could it be delivered?