THE ATTITUDES AND BEHAVIOUR OF INDUSTRIAL BUYERS TOWARDS PRICE

It is often assumed that the behaviour patterns of the domestic consumer and industrial buyer are fundamentally different. The argument, which is a gross over‐simplification, runs as follows. The industrial buyer is not buying for himself but for his organization. He therefore makes his decisions in relation to his organization's objectives and behaves as a logical animal. He buys to tight specifications and is equipped to “judge” the reasonableness of prices.