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The author reports the development of a classification scheme of buying patterns and situations. Unlike previous conceptual schemes, it consists of six prototypical “buying decision approaches” identified through an empirically based taxonomy development procedure. A mix of underlying buying activities distinguishes the categories: search for information, use of analysis techniques, focus on proactive issues, and reliance on control mechanisms. The use of a particular buying decision approach depends on four situational characteristics: purchase importance, task uncertainty, extensiveness of choice, and perceived buyer power. The findings reveal some patterns that are similar to previous classification schemes, but new variations allow for a conceptual extension of the literature. The resulting framework is useful to marketing managers, who can view their customer segments in terms of the categories in the taxonomy. Further, it provides a tool by which sales representatives can develop adaptive selling approaches based on a small set of buying situations and corresponding buying decision approaches.

Business‐to‐business technology development firms face a unique set of challenges when participating in the opportunities made possible by emerging multi‐sector innovations. The greatest challenge involves the firm’s efforts to influence and shape the market in its favor. This requires strategies for dealing with numerous stakeholders – many with which the firm has had little experience. Because both the risks and pay‐offs are great, the firm needs an analytical and systematic process for stakeholder analysis to provide the basis for stakeholder management strategies. The case of one significant multi‐sector innovation – wireless technologies for integrated traffic management and emergency response – provides an illustrative context for demonstrating a five‐step process for stakeholder analysis.

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