Question

What factors influence the global industrial buyer?

Answer 1

The following factors influence the global industrial buyer:

1) Supply chain: Purchase of industrial products require an efficient and effective supply chain to make the purchase cost-effective.

2) Quality: Global industrial buyers focus on the quality of the products so that the products fulfill the specific needs.

3) Cost: A product need to be cost-effective in order to be eligible for purchase.

4) Country of origin: The country of origin of the product is considered as it indicates the general quality and functionality of the product.

5) Exchange rate, interest rate, and global economic environment: The cost of a global purchase depends on the exchange rate. In addition, the interest rate also influences the purchase in an international environment. Global economic environment influences the interest rate as well as the exchange rate.