Differences in Marketing for B2C and B2B Sites
Introduction
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 develop a successful marketing strategy plus a highly effective marketing plan.
Both B2B and B2C sites must consider the intended market when blending the mix elements. Knowing the intended market and understanding their wants and needs helps to build a marketing mix that satisfies those needs and wants, but also meet or exceed the organization's objectives. Both types of sites need to view the marketing mix as a management tool to ensure that products and services are developed to be profitable and are according to market requirements.
This paper discusses the similarities and differences of marketing for B2B and B2C web sites. One similarity found for both types of sites is the use of branding.' Not only are logos used to identify a business, but the tone of the words used as well as the use of emotions ("B2B Marketing: Mind your language," 2005). Branding is an important part of both B2B and B2C marketing.
Business-to-Consumer (B2C)
As part of the marketing mix, B2C sites add a fifth P to the mix: people. Being a business that caters to consumers, people are another aspect that must be analyzed and addressed. Through market segmentation and data research, B2C sites can develop the other four Ps to spark' the consumer's interest. Additionally, many B2C businesses do data sharing' of consumer information where they pool their consumer files together creating a listing of highly responsive consumers. B2B sites have not grasped this concept yet. Most B2C businesses have done extensive research into the types of consumers interested in their product and will spare no expense to capture that target market's interest.
Hence, B2C marketing concentrates primarily on the consumers. B2C sites attempt to determine consumer needs and desires.
Peg and Kris, LLC expect that the particular focus on the effectiveness of its current online market strategies will reveal a wealth of information that will be used by the company to evaluate its current marketing plan (K. May, personal communication, September 23, 2016). It is expected that the study will reveal how customers arrive to the company’s website (Soat, 2016). It is also expected that Peg and Kris, LLC will be able to determine what percentage of website visits convert to sales (Soat,
This paper will describe the four elements of the marketing mix (product, place, price, promotion). In addition, it will describe how each element is implemented within a specific organization and how the four elements relate to that organizations marketing strategy. The company used in this example is both a product and service driven company and is in business for profit.
both B2B and B2C is that it gives to both business models a more effective control over theri customer
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
“As the potential customer in a B2B scenario, we are still an individual going through a decision-making process. Although the buying cycle may be different and the decision-making process motivated by different factors, we can still map out and understand how digital branding is having an impact (Rowles,2014).” Although, there is little emotion involved needed to sale the products there must be more emphasis is on the features of the product which, can make this very lengthy to explain all the features. Digital marketing to B2B helps to attract other businesses and make it easier to buy our products. However, since a whole group must decide this could delay the purchase of our products and make it time consuming. To combat this the use of blogs, emails and social media platforms will be implemented. I conclude that digital marketing to B2B is the most effective way to reach customers in the simulation. The strategy is to continually improve ads to reflect the features of the product. This must be done truthfully and prioritizing to the features most desired by the Cost cutter, Innovator, Traveler and Mercedes segment. This will in turn improve market demand in all segments because it would enable the modification of products much more
The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again referred to as the four P’s. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix. It will also express how each one of the four elements of the marketing mix impacts the expansion of an organization’s marketing strategy and tactics.
Although the goal of B2B marketing is to convert prospects into customers, the process is longer and more involved. A B2B company needs to focus on relationship building and communication using marketing activities that generate leads that can be nurtured during the sales cycle. B2B companies use marketing to educate various players in the target audience because the decision to purchase is usually a multi-step process involving more than one person. For example, the goal of an email campaign for B2B is to drive prospects to the web to learn about your products and services.
Marketing strategy is the plan that is designed, and specifically delineates how to enter the new market and attract new customers. It is also known as the process that allows the facility to employ its limited resources in opportunities to increase sales and to gain competitive advantages. Accordingly, an appropriate marketing strategy is adopted, which depends mainly on the marketing mix. The marketing mix is defined as “the set of plans, policies and processes exercised by the marketing management in order to satisfy the needs and desires of consumers and convince consumers to buy their products and services, and each element of the marketing mix affects and is affected by the other element.”
marketing mix”. The main course content will focus on the specifics of the e-marketing compared to the traditional marketing. We will begin by discussing the core marketing mix, insisting on the special issues raised by e-marketing. The second part of the class will focus on the extended marketing mix.
To be a successful business, the owner of the business should use the marketing mix and the results of market research; having identified its key audience a company has to ensure a marketing mix is created that is targeted specifically to those people. The marketing mix is a term used to describe the four main marketing tools, Price, Product, Promotion and Place (EStartup business blog, 2010). An example of each 4P’s are: which products are well received, what prices consumers are willing to pay, what TV programs, newspapers and advertising consu...
The are two basic categories of business conducted over the internet, Business-to-Customer (B2C) and Business-to-Business (B2B), and they share one common key aspect - use of Internet technologies to manage all aspects of the business.
This will be achieved through the adoption of superior marketing mix. There are four main strategies that will be used, and they include price, place, promotion and product. According to Cihangir (2008), marketing mix involves combining two or more strategies to ensure that a larger target market is reached such as combining price and place or promotion and product among other combinations. The marketing strategies are going to be used in the first two years to see if they will be effective. We will compare them against the real market situation and then adjust as time goes by or if the need arises. However, the marketing strategies are expected to bear fruitful results and are strong enough to ensure that our company are successful (Abrams,
Professor Jerome McCarthy introduced in the early 1960s a marketing mix which consists of the 4 Ps: product, price, place and promotion (Kotler, 1999, p. 94). Traditionally, efficient product, price, place and promotion strategies would lead to a successful business but in today’s society, due to such technological advancements, the internet is changing the way we sell our products and services, and therefore organisations now need online strategies to attract and retain customers. The e-marketing mix considers how the 4 Ps can be presented online in order to give that firm a competitive advantage through digital marketing (Learn Marketing, 2014).
In all reality, all businesses will, in some way shape or form, complete all of the marketing activities, even if completing these activities is not their main goal. (Dlabay 2006.) These marketing activities are product, place, price, and promotion. A business tool called that marketing mix takes all of these activities and puts them together in a way that can be used to help improve a business’s marketing strategy. Product is what the company is selling; Place is where the consumer will obtain this product; Price is what the consumer will pay for the product; Promotion is any type of communication that is intended to remind, inform, or persuade. (Dlabay 2006.) The marketing mix and the four P’s describe very well what business marketing is all about.