This type of buying is purchasing a packaged solution to a problem from a single supplier. This originates from governments buying packages such a major communications systems. Instead of buying separate components, buyers look for suppliers who supply the components and assemble the package for them.
American research undertaken by McWilliams in 1992 found out that the mean size of these buying centers mainly consists of four people. The range in this research was between three and five people. The type of purchase that has to be done and the stage of the buying process influence the size. More recent research found that the structure, including the size, of buying centers depends on the organizational structure, with centralization and formalization driving the development of large buying centers.
Websites such as Amazon.com, @WalmartLabs and Imply Labs utilize predictive buying intelligence to recommend relevant products to consumers based on social media usage.
New-task buying is deemed the most complex buying situation because it is a first-time purchase of a major product. Several people are involved in the decision because there can be high amounts of money and risk. Much information is gathered and evaluations of alternatives are explored. It is also complex as the decision makers have little experience with the product before the purchase can be made. The buying center has the challenge of finding out all the organisation's needs and communicating the product's ability of meeting the needs.
Four main buying decisions can be distinguished in the area of organisational buyers: Straight rebuy, Modified rebuy, New-task buying and Systems buying.
; Process considerations in buying center : Power and conflict issues within the buying center.
; Buying center structure : Understanding how organizational structure may differ from or may shape the structure of the buying center and examining how a particular buying strategy may serve to mediate the effects of environmental uncertainty on the structure of the buying center.
; Buying center boundaries and buying center domain : Distinguishing the buying center from its environment, also defining and delimiting the activities of a particular buying center.
; Communications flow : The informal interactions that emerge during the buying process.
There are several issues concerning buying centers which need additional research. These issues can be divided into various spheres:
There are other ways of buying stock besides through a broker. One way is directly from the company itself. If at least one share is owned, most companies will allow the purchase of shares directly from the company through their investor relations departments. However, the initial share of stock in the company will have to be obtained through a regular stock broker. Another way to buy stock in companies is through Direct Public Offerings which are usually sold by the company itself. A direct public offering is an initial public offering in which the stock is purchased directly from the company, usually without the aid of brokers.
There are various methods of buying and financing stocks, the most common being through a stockbroker. Brokerage firms, whether they are a full-service or discount broker, arrange the transfer of stock from a seller to a buyer. Most trades are actually done through brokers listed with a stock exchange.
Group buying for businesses: In 1963, the Government Stores Board, the procurement agency for government departments was privatised. Following this, the group buying power of the agency was opened up to private businesses, enabling these businesses to benefit from significant purchasing power. Now trading as n3, the company has over 12,000 member businesses and is New Zealand's largest group buying network. New Zealand businesses can join n3 as members to access significant supply discounts from a wide range of suppliers across many industries.
On January 20, 2010, Yahoo!7 (an Australian subsidiary of Yahoo Inc.) bought a local group buying company by the name of Spreets. Yahoo!7 bought 100% share of the group discount company for $40 million. As of January 2011, Spreets has more than 500,000 members and has sold over 274,000 vouchers in its lifetime of less than 2 years. Through this acquisition, Yahoo has joined a cluster of corporate investors including Microsoft, PBL Media, Ten Network, and original Facebook investor Klaus Hommels who are pursuing growth in this new business model.
On March 22, 2011, the popular New Zealand auction site Trade Me has launched a local group buying site called Treat Me.
If subscribers to a discount website are tempted by a discount offer, they enter their payment details online and wait. When a minimum number of people sign up for the same offer, the deal is confirmed and a voucher is sent to their inboxes. Shops, restaurants and other retailers that partner with these discount websites have to take hefty price cuts. But it means they have instant access to a whole new group of customers. The online group buying market is fragmented among hundreds of smaller players worldwide. The model has little barriers to entry and has gained attention from shoppers and businesses alike globally... According to SmartMoney, by August 2010, there were more than 500 group-buying sites worldwide, including local sites that cater only to a single city in some instances.
Media research planning can be done by media buyers as well as media specialists. Depending on product and service, Media Buyers and Media Specialists must do a fair amount of research to determine how best to spend the allotted budget. This includes research on the target audience and what type of medium will work best to reach the largest number of consumers with the most effective method. Media planners and media specialists have a vast array of media outlets at their disposal, both traditional media and new media. Traditional media would include radio, TV, magazines, newspapers, and out of home. New media might include satellite TV, cable TV, satellite radio, and internet. The internet offers a number of online media channels that have surfaced with the improvement of technology and the accessibility of the internet. Online Media can include social media, emails, search engines and referral links, web portals, banners, interactive games, and video clips. Media Planners and Specialists can pick and choose what and/or which combination of media is most appropriate and effective to achieve their goal, whether it is to make a sale, and/or to deliver a message or idea. They can also strategize and make use of product placements and Positioning. Inserting advertisements such as print ads in newspapers and magazines, buying impressions for advertisements on the internet, and airing commercials on the radio or TV, can be used by both Direct-response and remnant advertisers.
When it comes to financing a purchase of stocks there are two ways: purchasing stock with money that is currently in the buyer's ownership, or by buying stock on margin. Buying stock on margin means buying stock with money borrowed against the value of stocks in the same account. These stocks, or collateral, guarantee that the buyer can repay the loan; otherwise, the stockbroker has the right to sell the stock (collateral) to repay the borrowed money. He can sell if the share price drops below the margin requirement, at least 50% of the value of the stocks in the account. Buying on margin works the same way as borrowing money to buy a car or a house, using a car or house as collateral. Moreover, borrowing is not free; the broker usually charges 8–10% interest.
A full set of code of ethics is set out by The Property Ombudsman, which any respected buying agent would be a member of.
The concept of a buying center (as a focus of business-to-business marketing, and as a core fundamental in creating customer value and influence in organisational efficiency and effectiveness) formulates the understanding of purchasing decision-making in complex environments.