Question
Asked Jan 6, 2020
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Find a current event that relates to marketing and more specifically one or more of the topics below

consumer and business markets

business to business markets

consumer behavior 

top brands in our marketplace: B2B and B2C

careers in consumer markets

market segmentation 

ISAR typology 

positioning grid

please give an example and explain it in detail. thanks!

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Expert Answer

Step 1

The business market is business to business market where a business organization sells a product to another business organization. This is purchased by another business firm because that product is used either as a raw material for another good or services or assembled or resold to others. Whereas in the consumer market, the seller sells the goods with the consumer who consumes the final goods for personal use.

The differences between the two are:

The business market demand products for further use in the production of other goods, they usually have some specifications or customizations required for their production of goods and services.

For example, color, design, size, etc. However, there is no such customization done in the case of consumer market users. This is also because the organizational consumers demand in bulk or large numbers whereas the final consumers buy in lesser quantity comparatively

Step 2

A business organization is an information and device seeker. Constantly looking out for new information to modify its production technology. However, consumers only search for information that is required for decision making for buying behavior. The business market is a mass market. The consumer market is small and individual-based.

Packing and presentation play a significant role in the consumer market where the goods are used for final consumption. But is less significant in the business market where the goods are used for intermediate production.

Advertisement in the business market is more professional and sophisticated than in the consumer market. A firm adopts two different strategies to address the two differently. Usually, the mode of communication in the business market is through emails and that in consumer market its through hoardings, banners, pamphlets, etc.

Demand is volatile due to the accelerator principle. And the demand for final consumers in consumer markets affects many levels of organizational consumers.

Generally, organizational consumers are geographically concentrated. The final consumers are spread all over. And thus, the distribution channel is shorter in the case of organizational consumers.

Business consumers have multiple buying responsibilities in which more than one employee formally participates in complex purchase decisions. This is not the case in the consumer market, here the final consumers employ it less formally.

Step 3

In market b2b known as “business to business” and b2c known as “business to consumer”.

Duration of purchasing activity

Business to business generally takes longer to complete the entire sales process in comparison to business to consumer where the sales process is completed within minutes.

 

Size:

In business to business the size of the market and the number of buyers and sellers are small. Whereas in business to consumer the number of customers is high.

The cost of sales is higher in business to busines...

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