Dynamics of Industrial Buyer Behavior of Loader Backhoe

Abstract

To investigate how the buying behavior of firms work is always needed, since it is an every changing process influenced by many forces in its surroundings. Industrial firms tend to have a smaller number of customers which means that they are easier to identify than customers in consumer markets. Effective marketing strategy relies on understanding consumers and their needs. This understanding must include the industrial buyer if industrial marketing efforts are to be well planned and executed. This study is focused on understanding the buyer behavior of loader backhoe equipment's among Indian consumers. Primary data was collected from 387 buyers with the help of self-administered questionnaires. The hypotheses are tested with the help of chi-square, regression and ANOVA. From the data analysis it is concluded that the brand selection by the buyers of loader backhoe will influenced by brand awareness, past experience, Reliability, Resale value, Productivity, Service parts and network and less downtime. On considering the various brands JCB has good mind share and market share on loader backhoe equipment's.