Beneficiated Coal Buying Process: Investigating Industrial Buying Behavior Models
This research paper examines the buying process of beneficiated coal within coal-consuming industries, while considering different models of industrial buying behavior. Beneficiated coal refers to coal that has undergone a purification process to improve its quality and reduce impurities, making it suitable for industrial applications. The primary objective of this paper is to investigate and compare various models of industrial buying behavior in the specific context of the beneficiated coal market. This paper aims to provide valuable insights for coal suppliers and buyers to enhance their decision-making processes. The study focuses on the different stages involved in the buying process of beneficiated coal. Additionally, it explores the internal and external factors that influence industrial buyers when procuring beneficiated coal. The research analyzes each stage of the buying process, including problem recognition, information search, alternative evaluation, purchasing decision, and post-purchase evaluation. It also examines the internal and external factors influencing industrial buyers in their procurement of beneficiated coal, such as organizational considerations, market dynamics, and individual preferences. Furthermore, this research paper presents a comparative analysis of various models of industrial buying behavior, such as the Webster and Wind model and the Sheth model. The aim is to assess the applicability and effectiveness of these models in explaining the intricacies of the buying process within industries. By gaining a deeper understanding of the buying process and influential factors, coal suppliers and buyers can refine their marketing strategies, optimize their operations, and foster mutually beneficial relationships within the beneficiated coal market.