B2B Assignment 1
INTRODUCTION
This assignment is to understand the nature and complexities included in B2B marketing. This assignment also includes the important aspects of B2B and B2C marketing. The objective is to discuss how B2B differs from B2C.
B2B is basically for longtime sales practice called business-to-business while B2C signifies business-to-consumer. B2B deals with commerce transactions between businesses, not the general public, and B2C provides products and services directly to the end user. The initial step in forming marketing strategies for both B2B and B2C is to some extent similar.
UNDERSTANDING THE MARKETS AND THE BUYERS
Identifying needs and wants of the customer should be the first thing to do for a seller. Also identifying
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How are B2B and B2C sales different?
Emotional vs. rational Retail sales are mostly emotional and are based on a perceived immediate need, while corporate sales are well-planned, evaluated and longer term.
Cheap vs. Expensive B2C deals have a lower value point and are less frequently paid out over time.
One-off vs. Relationship Retail point-of-sale purchases are often done without prior contact and with no ongoing relationship between sales person and customer. This is very true in B2B, the entire sales process is based on relationship building and trust.
So which transition is easier, B2C to B2B or B2B to
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B2C sales representatives are accustomed to a moderately short purchase cycle and a much closer association with marketing and e-business. Exchanging to the B2B world would have a tendency to baffle most B2C salesmen because of the more extended term technique and necessities for relationship building. Then again, moving from B2B to a retail environment may turn out to be excessively serious for the normal B2B sales proficient, with little of the consistency or arranging they are utilized to. In either case, while fabricating a successful sales force, you ought to consider the foundations of your business
'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)
1. Compared with other approaches to business, the marketing concept is distinct in that it
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
Consider an organization of interest to you. This might be a church, a club, a service
How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.
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?".
What 3 pieces of information should try to find out from your potential customers whilst researching their needs?
In the B2B domain the fastest way to improve your sales number is to build great relationships with your customers. Relationships help discern when the industry a large number of established players in the market, customers are always asking for price-cut and the industry is quite mature with widespread adoption of products.
This section will focus on customers’ needs, identifying collaborators and their strategic goals and identifying the competition that provides similar products.
Traditionally, B2C versus B2B was often defined as business marketers being more sensitive to price, customer loyalty and working business relationships while B2C marketers tried to create excitement for their products through emotional connections. While this definition remains true, the lines are blurred because B2B companies now use B2C techniques, social media and heightened user experiences to nurture long-term business relationships. The goal of a savvy business marketer is to generate an emotional response for the
Q#1 Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty
It is further revealed that most individuals have a mixture of both customer and sales orientated behaviors (Hansen, 2016). The latter is one of the reasons it makes sense for retail banks to shift to call centers.
There are many differences between the customer behavior of the B2B space and the B2C space. For one thing, the wants and the needs of these two customers are entirely different. Individual consumers only need to worry about their own needs, whereas B2B customers need to look at the needs of the company as a whole. It behooves B2B companies to seek out influencers and powerful executives, while B2C companies may focus on any one consumer seeking a product or service. In this corporate space, customers’ needs are based less off personal reflection and more on the company’s overall business strategy. Businesses customers are more likely to research product attitudes, including quality, productivity, and overall value.
This assignment is about marketing, where I will produce a marketing strategy for a new or existing product. This unit introduces the major principle and functions of marketing; I will look on customer needs, and creating a suitable strategy or marketing mix, which will satisfy customer needs. In this unit I will experience the marketing process from carrying out initial research about a market, investigating the principles of functions of marketing and the way in which it contributes generating income/profit in a business. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
Both B2C companies and B2B companies have similar qualities when it comes to their marketing plan. Both types of companies believe in having a strong brand and having a strong positive image of their companies. However, the companies will differ when it comes to the reasons why they feel that having a strong brand will be important to the company. The B2C companies need to have a strong brand in order to maintain and grow the amount of consumers and costumers they have by matching the brand of their known products. Individual consumers can become attached to a certain company solely based on their brand. When it comes to B2B companies having a strong brand will only help other companies consider rather or not to make the purchase from Intel but the ultimate decision comes down to many other business factors including how Intel will look