B2B vs. B2C Marketing
Business-to-business (B2B) is a term used to describe transactions of goods or services between businesses as opposed to business-to-consumer (B2C) which describes activities of commercial organizations serving end customers with products and/or services. B2B and B2C marketing is different. There are profound differences that a business must remember when developing marketing activities.
Although the marketing programs are the same for each type of business (events, direct marketing, internet marketing, advertising, public relations, word of mouth, and alliances), how they are executed, what they say, and the outcome of the marketing activities differ (Murphy, 2007). The following table summarizes some of the
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If a B2B company can provide a quality product or service, even if the price is higher than the competition a customer will be willing to pay, provided there is a perceived value in what is being sold. That value can be in the form of customer service, engineering design assistance, on-time delivery, and quality.
In conclusion, marketing for B2B and B2C markets are quite different. While marketing programs are the same, how they are executed, what they say, and the outcome of the marketing activities differ. B2B marketing is relationship driven while B2C marketing is more product driven. The market size also varies between B2B and B2C markets. B2B markets are measured in the "thousands" while B2C markets are measured in the "millions." Not only is the market different in B2B and B2C but so is the buyer. The business buyer understands the products or services and needs to buy the products or services to help the company to stay profitable, competitive, and successful. Therefore, B2B marketing must be more complex. Consumer buyers are looking for the best price and trust within the company and products. Therefore, B2C marketing needs to convince customer of their trust and loyalty. Brand building is also important in both B2B and B2C marketing but for different reasons. In B2B markets brand will only help a business be considered, not necessarily chosen. In B2C
Customers want the business to produce quality products at reasonable price. You have different types of customers. There are different types of customers there are loyal ones, young ones, elderly, family or one-time customers.
In B2C i.e. Business to Customer, business offers and supply products or services to the
'Traditional marketing in the business-to-business environment requires very different strategies from those campaigns directed towards the consumer market.' (ExtraVision, n.d., p. 1) 'Consumer competition can be a lot fiercer, with customer loyalty a constant battle.? (ExtraVision, n.d., p.1)
B2C stands for Business to Consumer as the name suggests, the basic concept of this model is to sell the product online to the consumers. B2C is the indirect trade between the company and consumers. It provides direct selling through online interaction.. Business to
Most of the needs experienced by the business to business (B-B) market are those which help them fulfill the needs of their own customers –“derived demand” (“B2B Market”, 2015). All businesses need resources and infrastructures in order to provide services and products for their customers (Grewal, p. 210).
In order to gather knowledge about the topic and create a basis for the forthcoming empirical research and analysis, a critical literature review has been conducted. The literature focuses on the theory of a sales plan, the B2B selling process and the diffusion of innovation. The results of the literature analysis will provide the answer to sub-question 1: "Which characteristics does the literature reveal on the development of a B2B sales plan?".
A successful company would put its products at a competitive price but this doesn’t mean it has to be the cheapest in the market – supplying value-adds or better value for money or a personal service might help the company to compete with other rivals or competitors.
The main thing behind marketing in a business is finding the customer’s needs and produce the product/ services to satisfy their needs, this way the customer can choose what they would want included in their product/ service. A business that follows this rule is market-orientated.
The car manufacturer would deal directly with a tire manufacturer to get their product. The different supply channels in this situation would travel from the car manufacturer to the tire manufacturer to the raw supplies dealers. An example of a business to consumer model would include an individual looking to book a flight and hotel in Las Vegas. The supply channels would typically travel through a variety of more channels compared to the B2B model that include the individual, the online store, the airline, the airline staff, the hotel and hotel staff. Another key difference between B2C and B2B has to do with properly integrating technology characteristics. B2B needs to be integrated to their business partner 's software for adequate re-supply of inventory, billing and other elements. This is an aspect that the B2C does not have to deal with since the customer will return to them out of loyalty and satisfaction versus convenience. Using once again an example with a car manufacturer and a tire manufacturer, Mars Auto signs a deal with Firestone tires. Mars Auto must accurately communicate to Firestone in order for Firestone to know exactly how many vehicles are going to need tires delivered for the upcoming weeks, months and years. Firestone will also have to account for the tires received and charge the company accordingly, so the integration of the billing and payments can be transferred back and forth effectively
In social marketing, there are 5 P's to consider when planning a campaign, and they are product, place, price, promotion, and policy (Northwest Center for Public Health Practice, n.d.). Marketing is marketing regardless if the
Research supports the value of relationship-based care practices in infant and toddler care (Sosinsky et al., 2016). A relationship-based approach embraces important components of high quality infant and toddler care—sensitive and responsive primary caregiving, and continuity of care, so essential for an infant or toddler experiencing
This is a statistic that makes our hearts sing, because with a solid B2B sales process, it is likely that you can increase the percentage of sales staff that excel, and hence reap greater profits. B2B firms that have a sales process that meets the
Marketing its used by most business. Marketing is a process where a business finds the way to transmit a message to its consumers. The message every business wants their consumers to know is why they should choose their service or products instead of those of the competitors. Marketing it’s not just one thing, marketing is advertising, customer service, what they hear or see about the business, what they get from choosing you. People who are in charge of marketing should really be careful in the words they use or the way they will be trying to get consumers. With just one word or a doubtful action it could be enough to loose consumers.
Business marketing is the heart and soul of any business and happens to one of the main
The nature of business to business marketing differs in many areas with business to consumer marketing. The different nature of business to business marketing poses unique challenges and raises issues that differ from issues arising from consumer marketing. The nature of demand, or the characteristics of demand for business products