Business-to-Business Marketing To understand the overall concept of business-to-business marketing, it is significant to look into the value chain, which begins with a customer demand or need for the product or service. Taking an example of a shirt that someone can buy from the shop, business traders have sold the raw cotton to a business that performs the spinning, the spinning business then sells the spanned cotton to a weaver who then sells it to a garment maker until when the final product reaches the consumer. Every business buys the product with the aim of adding value rather than for complete indulgence. Therefore, business-to-business marketing refers to the idea of one business meeting the needs of another business despite the fact that final consumer is responsible for the demand created. In this case, various factors make business-to-business marketing distinct from consumer marketing.
Complexity in Decision-Making Business-to-business markets usually have a complex decision-making unit in that the purchase of key materials that are significant for the business involves a huge team responsible for making the most appropriate choice. The complexity as well as the dynamism, according to Hutt and Speh (2012) creates some implications for the market. Firstly, the targeted audiences are nebulous, constituted by teams of continuously changing persons with varied motivations and desires. The buyer negotiates severely for favorable financial deals and production
6. Explain family brands. Should Best Buy carry its own dealer brands to compete with some of the popular manufacturer brands it carriers? Explain your reasons. Family branding is a marketing strategy that involves selling several related products under one brand name. Yes, I feel that Best Buy should carry its own dealer brand too compete with some of the popular manufacturer
This business report aims to show how important a marketing plan is, demonstrate the key elements of a successful marketing plan and how a marketing plan helps a company to sell its products and service. This Marketing plan will use the company Aldi as a case study, (the supermarket chain) to demonstrate how a marketing plan works. Aldi is a major supermarket chain that provides highly competitive retail food products to households. As a retail company they face all the marketing problems that other retail company faces (product range, price and marketing segmentation).
This paper will introduce a product and service which operates in the U.S. with the intent to expand within foreign markets eventually. The service that I chose is a current service in the food service industry that does exist but would benefit from enhancing it; there are market trends for the new service that would definitely satisfy potential customers’ needs and wants once the idea is brought to their attention. The goal is to bring the feel of the city’s fine dining and lounging experience to areas outside the city without having to travel far or spend more. The service is an
In order to effectively undertake market research on customer behaviour; such as expected prices, how they react to certain methods of research and what kind of care do the customers expect after the purchase is made, it would be best to use observation along with focus groups. Surveys, if used, should be done face to face by door knocking as it is more convenient and has a high response rate. The survey should include quantitative and qualitative type’s questions in order to get a `broader view of the customers’ behaviour. Questions could include “What do you think affects your behaviour
Marketing Analysis: Be our guest is an established service sector business. The company rents party equipment to other businesses and individuals for varied occasions, such as marriages and parties, which makes the demand for it being cyclical. The company is known for the high quality equipment they deliver and the extra ordinary services they provide in comparison to their competitors. Over the last three years from 1994 to 1997 the net sales for Be Our Guest have increased by 11% in 1994-1995 then by 9% in 1995-1996 and by another 23% from 1996-1997. There are number of factors causing this rapid escalation in sales. Having a strategy of providing high level of service and quality developed long-term relationship with the clients. Furthermore, those loyal and satisfied customers’ help in the promotion of the business as new clients come from a word of mouth of existing clients.
6. There are 4 P’s within the ‘marketing mix’. These are: price, product, place and promotion. Products produced by companies can be both services which are intangible and goods which are tangible. The product model is made up of 3 parts:
“Tiny Tees” is a small company which specializes in the design of baby and toddler t-shirts. The way the business is organised is that the owner of the business designs t-shirts for babies and toddlers and sends the designs to the manufactures in order to print them in the selected fabrics. The customers of the company are independent retailers and the House of Frazer. The t-shirts are sent to the retailers by post. In year 7, the sales of the company were halved.
The marketing company offers three advertising services-the TV commercial, the cellular phone application (app), and the Facebook page for their customers. The prices are one million dollars, five hundred thousand dollars, and two hundred fifty thousand dollars respectively. However, if a customer paid for the complete package including three advertising services, the total cost will be one million and five hundred dollars. The customer would pay two hundred fifty thousand bonuses to the company if the App is downloaded five hundred thousand times in the first month. Additionally, the customer must pay 50% of the total price when he signs the contract, and the remaining 50% of the total cost would be divided into two installments. The
What this business will do, its products and services, the industry it is in, when, where and how business will be delivered
After an industry analysis, we have established that Bloom is involved in the Human Resources field, with specialization in consulting and event planning. Stacey will help business’s evaluate, and conduct surveys to identify what its individual employee’s value when being recognized for their efforts. Her services will included an introductory event to influence the staff of a company to share their desires on recognition.
For this report, I participated in three kinds of activities exploring the field of marketing. I went to an association event in Toronto, attended the Partners4Employment job fair, and met with industry professionals for informational interviews.
Our business objective is to strengthen the online distribution channel and to increase sales revenue by 30 percent. At the same time, our marketing objective is to increase the awareness and the usage of mobile shopping application. We will market the new virtual fitting room features to our target audience who want to have access to new products faster and able to mix and match products on personalized mannequin and who does not want to wait in the long line in front of fitting room. The marketing strategy is consist of Social Media, Email Marketing, In app messaging, Search Engine Optimization, Promotion, Product tie-in and Sponsorship
PetSmart is a leading retail store that sells specialty pet products and services. It operates more than 1200 stores in North America and is regarded as the biggest player in the pet supplies and services industry. It came to Canada in 1996 and its store is located at Quinn drive Sarnia. They sell consumables (i.e. pet foods and treats), hard goods (i.e. pet accessories) and also live small animals such as birds, hamsters, fish etc. they do not sell dogs or cats but rather most of the times have adopt a thons by collaborating with local animal rescues. Their stores are large in size and they have tried to make them bright and colorful to make sure that they don’t have a ware house type look. Another
In B2B markets, the buying process is often more complex as compare to B2C markets because of purchasing risky products, B2B buyer needs to be more rational and should have comprehensive knowledge about products and markets. Another problem associated with B2B marketing is that B2B products are more complex and a B2B marketer needs to have full knowledge and technical expertise in providing technical details to the customers at the time of sale (Harrison et al., 2006) and the success of whole product line greatly depends on sales team in B2B context. In addition, in business-tobusiness markets, companies buy limited number of buying units by following Pareto Principle or 80:20 rules, so it is necessary for the B2B marketers to emphasise on establishing long term relationships with buyers especially in emerging markets such as China, India and Russia.
There are many markets globally which are seeing high growth in incomes and at the same time increased spending capacity. Increasing incomes come with increased spending on branded products and our company ZION which is based out of London, United Kingdom plans to take advantage of this opportunity to introduce our high end sunglasses brand ‘Valera’ in one of these markets. Our company has chosen China as a first step towards globalisation of our operations.