Marketing Analysis : B2b And B2c Market Segment

It needs to be a specific group of customers. Sometimes using stereotype images can help to describe a group, such as the “soccer mom.”

Brown, T. (2014). Basic Marketing Research, 8e, 8th Edition. [VitalSource Bookshelf version]. Retrieved from http://online.vitalsource.com/books/9781305178571/page/24

| Customer segments:3.12-B2C: connecting people with people, everywhere permitted (68)3.13-B2B: marketers, free channels; advertisers with budget, solutions to audience; developers with resource, offer platform(69)

Does the firms’ value proposition match with the benefits asked for by the consumers from the target segment?

Market segmentation allows marketers to understand customers’ needs and identify target markets (Peter & Donnelly, 2011). Bright Light Innovations will be able to evaluate different segments to determine differential advantages in each of those segments. Furthermore, management will be able to determine any of the particular marketing mix for a more successful strategic plan. Market segmentation can be obtained by researching geographic data (zip code, region, etc), demographic data (age, occupation, nationality, etc), psychographic data (social status, personal type, etc), behavioral data (customer behavior), or any other data that can be beneficial to the research (Kawasaki, 2004).

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

It is important that managers collect as much information about their potential clients as is available. Several market research companies routinely collect data (mostly from the internet) on consumer behavior and related industry trends. In the case of the company planning to introduce a high-end-children’s clothing line, managers can have access to databases and reports that will determine if there is a demand for this product. The research information is available for a fee based on the level of details the business wants to acquire. There are key factors a manager must consider including the target market’s income, location, and preferences. More essential

B2B is a type of transaction that exist between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer. B2B marketing is marketing of goods and services to commercial enterprises, non- profit organisation, government, independent businessman for use in goods and services that they, in turn, produce for resale to other industrial customer or final customer.

Market segmentation divides a market into a well-defined slices. The marketer’s responsibility is to identify the nature and number of market segments. To compete more effectively, many companies are now embracing target marketing. They are focusing on those consumers they have the greatest chance of satisfying.

Marketing in an electronic-business/commerce (e-business/e-commerce) arena today is truly no different than the ole ‘brick and mortar' business. Business-to-business (B2B) and business-to-consumer (B2C) sites need to have a crafty approach to implement marketing strategies and develop an effective marketing plan to reach the intended (targeted) market. Thus, the mixing or blending of the four Ps (product, place, price, and promotion) in such a way to attain both the business and target market's goals and objectives is the key to success. The correct marketing mix, or blend, will help both a B2B or B2C site

In this block, the market segments should be defined (can be one or more), based on their needs, how to reach them, what kind of relationship should be established with each segment, their profitability levels and if they are willing to pay extra for different aspects of the offer. The business model should clearly choose which segments to serve and which to ignore.

In terms of marketing, even the buying patterns and reasons for purchase of the consumers play a large part in the different marketing techniques of B2B and B2C companies. In the business-to-business companies, the buyers are buying based off of rational decisions and the business value a product or service brings. This is why the marketing strategy must focus on the relationship between businesses: the need to communicate the details and benefits of a product or service, to prove it as a beneficial and worthwhile for another company to have, is critical.

In B2B, there is a focus on making the products matching the consumer demand. Secondary researches are needed but primary researches about consumers’ psychology are more important as their wants and needs are changing over the years. (Minett 2002) 2.5. The segmentation In B2B, customers are segmented by industry and individual company needs as they are not numerous.

B2B Content Marketing and Statistics. Business to business marketing faces challenges not found in the business to consumer environment. As stated in the B2B Environment and

Business owners, members of the management team and key decision-makers are primarily the target for B2B marketing programs. According to Management Centre