Differentiate between consumer buying and organizational buying and give an example of each.

Consumer buying refers to the purchasing activities of individuals and households for their personal use, consumption or to meet the collective needs of the household unit such as a family or individual. For example, your parents are buying an insurance plan. Organizational buying includes all of the activities of organizational members as they define a buying situation and identify, evaluate, and choose among alternative brands and suppliers. For example, a hospital system is buying MRI Scanner from a healthcare technology company.