Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
What are the primary characteristics of B2C and B2B
What are the primary characteristics of B2C and B2B
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: What are the primary characteristics of B2C and B2B
Difference in the concept of B2C and B2B buying behaviour:
Business to business or B to B (B2B) different from business to consumer (B2C) in many ways:
Business-to-consumer (B2C)
1. B2C purchase is based more on emotion.
2. The volume of B2C transactions is lower.
3. B2C sales are to consumers.
4. B2C purchases will often run into smaller amounts of money.
5. B2C decisions will usually be made much quicker.
6. B2C markets target single individuals who pay for their own transactions.
7. A consumer marketing,or business-to-consumer or B to C (B2C) marketing,sales are made to individuals who are the final decision makers,though they may be affected by family members,relatives,neighbours or friends etc.
8. Whereas,In B2C emotional factors play a very large/big role.
9. The decision-making-process for B2C is generally much smaller.
10. B2C purchasers usually spend less money,as the buying process tends to be more easier.
11. A houses,food,clothes,cars,services etc is a B2C products.
Business- to- Business (B2B)
1. B2B purchase based more on logic.
2. The volume of B2B transactions is higher.
3. B2B sales are to Businesses.
4. B2B purchases will often run into large/big amounts of money.
5. B2B decisions can take days,weeks,months and years to come to fruition and beneficial.
6. B2B markets to individuals (customers) acting on behalf of organizations.
7. A business marketing, or business-to-business or B to B (B2B) marketing, sale is made to a business or firm.
8. B2B shopping decisions tend to be less emotional and more task-oriented.
9. The decision-making-process for B2B products is generally much more larger.
10. B2B purchasers usually spend more money,as the buying process tends to be more complicated, and ...
... middle of paper ...
...ucts or services will be used by users..
Example:Toilet paper,a typical B2C product,is also a B2B product when sold to hotels and restaurants.However,few people will buy a forklift for their personal or private use.
6. Business customers (B2C) often glance (look) for specific products or services attributes such as economy in cost and use,productivity,quantity and quality.
Example: B2B marketers often present current products and their advantages in private presentations to key decision makers.The B2B organization may also invite possibilities and customers to public or private events to facilitate further conservations. As a result,confidence and trust are usually built between the buyer and seller over a several period of time.Main time and money are spent during the evaluation and selection process,resulting in strong brand loyalty between B2B customers.
A consumer is a person who is seeking for products and services for personal, domestic and household use or consumption only.
In a recent five-year study researchers have found that the “4 P’s” undercut the B2B marketers. The author states, “The “4 P’s” causes the marketing team to stress about product technology and quality even though these are no longer differentiators but are simply the cost of entry. It underemphasizes the need to build a robust case for the superior value of their solutions. And it distracts them from leveraging their advantage as a trusted source of diagnostics, advice, and problem solving.”. This new method is more customer focused because if they have a good overall experience with your company, it is more likely they stay with your company (Ettenson, Conrado, & Knowles,
Although relationship customers also use the BAS system, it is more valuable for transactional customers. Since transactional customers emphasize more on quick delivery and low prices, but less on relationships, A/S focuses its efforts with the BAS system on providing the transactional customers with these values.
B&D has a strong market share in the consumer and industrial markets, but is weak in the P-T market as it is currently experiencing decreased market share. In this segment, B&D is not generating profits and, at the same time, retailers want more advertising allowances and rebates.
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
In contrast, B2C companies are product driven. These products have to be highly in demand to the consumer market, and in order to be successful these companies have to sell the product or service in high volumes to make a profit. Therefore, the relationship between the company and the consumer is not nearly as maintained as that of a B2B company. The value of this marketing strategy is the transaction- as many as possible to cover the costs and make a profit. In a similar fashion, however, there is also the value of trust, as a consumer that trusts the company or the brand will often assist the company in increasing transactions (Murphy, 2008).
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 (Name of Product/Service) to (Name of two segments of the market chosen)” _ REDO Learner Declaration: I certify that the work submitted for this assignment is my own and research sources are fully
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
To effectively sell a product or service, organizations have to really know how customers behave, regarding to what they buy. The study
To help these businesses, a more appropriate or better marketing plan needs to be designed. Small business internet marketing services can help businesses develop and thrive in a highly competitive market. For the highest quality internet marketing services, hiring an online marketing company to design a customized internet marketing campaign may be advantageous for some businesses (EStartup business blog and contributors, 2010). Identifying the role that marketing plays in a successful business is demonstrated by the use of two examples, the importance of developing a marketing plan, and ethical and legal issues that surround marketing practices (EStartup business blog, 2010). 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 term “direct marketing” excludes the "middle man" from promotion, as a company's message is provided directly to a potential customer. (Investopedia, 2010) Direct marketing is an advertising campaign that aims to gain an action (such as an order, a visit to a store or Web site, or a request for further information) from a group of consumers in response specific communication from a marketer. The communication may take many forms such as mail, telemarketing, direct e-mail marketing, and point-of-sale (POS) interactions. (searchcrm.techtarget.com, 2014).
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.
the business activity of presenting products or services to potential customers in such a way as to make them eager to buy. Marketing includes such matters as the pricing and packaging of the product and the creation of demand by advertising and sales campaigns.4
Every consumer has a unique way of measuring benefits versus costs and will sometimes pay for higher quality items and other times buy the low costs items, depending on which has the highest value to them.