...Business-to-business (B2B) markets and consumer markets present different challenges and opportunities for businesses. Some products can be sold to only one market while others can be sold to both. For example, equipment manufacturers generally sell to industrial businesses and restaurants cater mainly to consumers, while technology companies tend to sell to both consumers and businesses. The needs and characteristics of these markets are different. Therefore, the marketing strategies for each are also different. Purchases/Needs Overall, purchases made by businesses and consumers are quite a bit different. Businesses usually purchase capital equipment and raw materials to make products which they resell to consumers or other businesses. Consumers purchase products such as grocery items, microwaves and computers for personal or household use. Service needs of the consumer and of businesses are also different. For example, businesses may use management consultants and business outsourcing services, while consumers use investment advice and fitness training services. Characteristics of Purchases Businesses typically make purchasing decisions after a formal process involving two or more people. Consumer buying decisions can be made by one person, usually at a place of business or online, and the process is more informal. Businesses are often the integrators of products and services while consumers are the end users. Consumer demand usually influences business demand...
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...Assignment Business Marketing and Consumer Marketing Subject: Business Marketing S Class: MBA (Evening) Roll no: 202 ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Business marketing Business marketing is the practice of individuals or organizations, such as commercial businesses, governments and institutions, facilitating the sale of their products or services to other companies or organizations that either resell them, use them as components in products or services they offer, or use them to support their operations. Also known as industrial marketing, business marketing is sometimes referred to as business-to-business marketing, or B2B marketing, for short. (Note that while marketing to government entities shares some of the same dynamics of organizational marketing, Business-to-government marketing is meaningfully different.) ------------------------------------------------- Business & Consumer Markets ------------------------------------------------- Business markets have a derived demand - this means that a demand in business markets exists only because of another demand somewhere in the consumer market. Lets take a few examples : * The government of India wishes to purchase equipment for a nuclear power plant...
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...There are many different ways to define marketing; it just all depends on how each person looks at marketing to how they define it. Most people think that all there is to marketing is advertising and selling of goods and services but there is so much more to it that just that. According to American Marketing Association (2012), marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. There are different parts to marketing and different things that you have to do for marketing as well. There is business to consumer marketing and business to business marketing and each is different but similar at the same time. Business to consumer marketing is the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return. Marketing in this situation is used to identify the customer, satisfy the customer and keep the customer. In this situation you figure out what the consumer wants and how to keep them using your product and this is marketing research. The people doing the research have to find out what specifics the consumer wants in their product and figure out the best way to accomplish that and advertise it for the consumer. A good example of this would be cell phones; these are something that is getting more advanced and competitive. The key to cell phones...
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...Chapter 6: marketing Marketing * Marketing is the process of developing a product and implementing a series of strategies aimed at correctly promoting, pricing and distributing the product to a core group of customers. * The purpose of this is to determine what the business should be producing. * Marketing is used primarily by a business as a method of enhancing its revenue streams and increasing the market’s awareness of its products.The strategic role of marketing * The strategic role of marketing extends also to society which includes: * Choice- Businesses differentiate themselves from their competitors through price, product quality and features and service. All these provide consumers with greater choice when purchasing a product. * Standard of living- Businesses will often develop and market products that improve and enhance standard of living. To provide consumers with better products. * Employment- To provide a product to consumers, businesses must employ labour to assist in transforming input resources into finished products. Labour is also required to sell these goods and services. * Brand awareness- Brand awareness refers to the extent that customers are aware of a product/ brand and its features. It is achieved through strong and effective marketing campaigns. * All of this is done to increase the market share. Market share refers to the percentage of total sales a business has compared with its competitors in a particular market...
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...Marketing Research Paper Denise Guerrero MKT/421 Monday, October 5, 2012 Sheryl Joyner Marketing Research Paper To establish a successful business in a competitive market, a company must have an effective marketing team. The marketing segment of an organization is responsible for development and execution of a strategic business plan for future business opportunities. A constant essential in the appropriate development of a marketing strategy is marketing research. Kudler Fine Foods is an organization successful in the gourmet grocery industry in California however there are some marketing research needs that can enhance the success of the business. To fully understand the needs of Kudler Fine Foods marketing needs, it is essential to understand the importance of marketing research and competitive intelligence analysis in developing Kudler Fine Foods marketing strategy and tactics as well as identifying areas where additional market research is needed that may aid in the development of strategic planning for the organization. Understanding each element is crucial to provide a concise evaluation of the marketing needs for Kudler Fine Foods. Marketing research is the ability to identify customer needs and evaluate a company's success in satisfying those needs (Perreault, Cannon, & McCarthy, 2011). The business study incorporated in marketing research allows companies to build a strategic business plan, implement a new product or service as well as improve...
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...Defining Marketing Paper Toya Carter MKT/421 May 25, 2011 Susan Craver Abstract Marketing is a very important tool for a growing business. Marketing is a good investment for businesses. Marketing is an area that has been proven to pay for itself within any business. Marketing is often misunderstood, because of lack of research, time, resources, and the understanding of its potential. Marketing is effective for any business if it shows what task the business does well or how well the business produces products differently from competitors. In this paper the subject to discuss is the meaning of marketing and the importance of marketing in organizational success. Three Definitions of Marketing First Definition of Marketing My opinion of marketing is advertising a service or product to gain potential consumers who may want to purchase the service or product. In think advertising services or products to potential consumers is a great for any business to gain customers because if the consumer does not usually shop at the business in question the individual would not know what services or products the business is offering for sale. For example, AT&T Wireless sends advertisements in weekly newspapers in the Orlando area. This advertisement shows the newest products and phone service plans the business is offering. Also the advertisement shows how potential customers can have great phone service at a very low rate and obtain a new phone of their choice without charge...
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...broader marketing audience which resulted in their company becoming the most valuable company in the world in March 2000. Successful marketing requires capabilities such as understanding, creating, delivering, capturing while also sustaining value. Along with these needed additives, one must understand that business to business and business to consumer relate to each other. However, they must be handled or strategically attacked with separate or specific missions. With building a brand, one must develop a strong marketing strategy in order to generate profit. Business to business marketing is geared more to business buyers and sellers whereas business to consumer focuses on the individual consumers need or want. When it comes to the marketing aspect of the two, the marketing strategy, advertisement, internet marketing, and public relations will all have to be executed in specific ways in order to target the right audience. There are also similar but different aspects that should be considered when developing marketing strategies for business to business and business to consumer as well. Business to business markets tend to be more on a personal level to which companies focus on getting to know their customers in order to establish a working relationship. However, in the consumer market, mass communication and distribution tools are needed in order for the product to market well. There other areas of differences between business to business and business to consumer such...
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...cisco Question no 1: How is building a brand in a business to business context is different from doing so in the consumer market? Answer Building a brand in ‘Business-to Business’ context: Business-to-business (B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer. Contrasting terms are business-to-consumer (B2C) and business-to-government (B2G). B2B (Business to Business) Branding is a term used in marketing. Building a strong brand that is able to set a company apart from other business is always an important job. However depending on who the intended client is determines how the company will build their brand. A brand is defined as a name, term, sign, symbol, or design, or any combination to identify goods and services of a seller or group of sellers. (Burgess, C) While many things in branding are the same, building a brand that supports brand to brand, B2B, or brand to customer, B2C, sales has slight differences. In B2B branding, a focus will be made on making a strong connection with the client business in order to make their brand seen as the top choice and safe to do business with. In order to do this, the brand will be built around making strong and personal relationships with the customer to become the go-to source. Instead of mass marketing and small ads, B2B branding requires that the business be willing to accept the time to completely educate the professional buyers...
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...PROJECT 1 E-commerce Research Project Ericka Lim-Spears Business 424 Liberty University E-COMMERCE RESEARCH PROJECT 2 Abstract E-commerce has taken over traditional marketing and replaced it with a modern day way of doing business. Over the past two decades our society has become accustomed to buying and selling goods as well as services online, it has become a more efficient, cost-effective, and convenient way of living. With E-commerce becoming more prominent by the day it is important that businesses strive to meet expectations of their consumers when advertising online. Social media plays a substantial role also in helping businesses promote products or services to other businesses or directly to consumers. When businesses do business with each other, also known as B2B marketing, it is important for them to have a clear idea of what their company represents and how their products or services will benefit consumers. Social media handles such as Facebook and Twitter have given businesses no matter how successful a platform to build up their consumer base which in turn will attract other businesses to take part in your product or service. Consumer-to-Consumer marketing also known as C2C is a consumer base which regular people are able to take part in e-commerce by selling their goods and services online. Websites such as Ebay and Craiglist have been home to Consumer to Consumer marketing since the beginning. Social networks such as Facebook has provided...
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...“Marketing is the first activity in starting a new business venture” Introduction: Marketing is the first and most important activity for a new business venture. Marketing introduces business in the market. Marketing plays a vital role in building new business venture's reputation. Company / Firm doesn't take back move to spend more money on marketing. Because initially, this is the only way where the company can pull the attention of many customers. Consumers get to know more and more about the products through marketing. Let's have a brief discussion about the importance of “Marketing”, why it should be prioritized the most in starting a new business venture. Brand/Name & Fame Recognition: Consumers look for “Branded Materials” now a days. So “Brand Recognition” can only be possible with high marketing activities. Marketing is one of the most powerful activities which provides brand recognition to business venture. With Marketing, We get to decide how do we want to rank our company and what we want consumers to know about what we do. We can build a reputation for our brand around our venture's values, benefits and advantages, with consistent effort and great content. Importance on Community: The products of the business venture will be more publicized if “Marketing” gives importance on the mindset of the community. Company should understand in what way they can attract the community. The business acquisition in One community will definitely help the...
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...BUAD479 Chapter Outlines: Chapter 1: * Marketing is an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers and to build effective customer relationships in ways that benefit the organization and its stakeholders * Marketing explained: * Distinct activity in an organization- marketing department * Set of tasks, such as assembling, pricing and promoting, which may or may not be performed by the department that results in products, services, ideas, ad other tangible and intangible items * These items produce profits or achieve stated goals for an organization * Profits achieved by creating value for customers * Creation of value- realization of the benefits that are at parity or that exceed the cost of products, services, etc. * Customers search for value on a daily basis when making buying decisions * Marketing has roots in economics, psychology, sociology, and statistics * Economics- borrowed the idea of utility- satisfaction received from owning or consuming a product or service * Value that consumers attach to the products * Supply and demand for products influence price, production costs influence supply, and utility influences demand * If consumers perceive that a product has utility-> inclined to consider purchasing it * Need- necessity to meet an urgent requirement * Want- desire...
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...Understanding customers and their behavior Table of Contents 1. Task One: 1 1.1 SWOT analysis: 1 1.2 Key Products: 3 1.3 Adaptation of the organization marketing mix: 5 2. Task Two: 7 2.1 Marketing Objectives: 7 2.2 Globalization Concepts: 8 2.3 Behavioral trends and environmental factors: 8 2.4 International business and management process: 9 2.4.1 International human resource management: 9 2.4.2 International marketing: 10 2.4.3 International logistics: 10 Reference List 10 Understanding customers and their behavior Cotswold Business Supplies is a leading furniture retailer and wholesaler in the U.K. the company intends to expand its business activities in foreign market. This report basically will concentrate on some related issues regarding this. This report is produced on the basis of two tasks. The two tasks are specifically shown in the following. 1. Task One: Before any discussion, the SWOT analysis of the Cotswold Business Supplies should be analyzed. 1.1 SWOT analysis: Basically, SWOT analysis explains a company’s current marketing situations. It also indicates the potential threats and opportunities. Valentin (2001) argued that, basically SWOT analysis involves with a company’s strength, weakness, opportunities and threats that it faces. On the other hand, Bloodgood and Bauerschmidt (2002) described that, there remain two factors regarding this. They are internal and external. Internal factors include...
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...Question 6, Chapter 2, Page 75 “Marketing Plan and Business Plan” Business plan and marketing plan are a very vital part and should not be forgotten in running a business, because these two things are the basis of operating a business effectively and efficiently. These plans are not only help businesses organize their operations, but help determine about their success or failure. Moreover, these things are needed to avoid something that harm to company’s existence and probably it can reduce the risks that might occur in a company in the future. Hence, having a clear business plan and marketing plan it can give a clear illustrations about the targets and goals that are determined by the company at the beginning. Generally, a large company has a very high standards in operating their business and very carefully in determining some plans for their business in the future both business plan and marketing plan, because they do not want to be careless in the determination of business plan and marketing plan in their company that will make a huge effect in their company. There are some differences in business plan and marketing plan that classify each other, the fundamentally difference from a business plan and marketing plan is the goal and specification of what is want to be achieved by a company. Hence, it will have some step by step stages to achieve the goals that have been specified at the beginning. Business plan is a concept how we can interact with the investors and bankers...
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...* * * * . March 15, 2012 MKT 421 Instructor: Roberto Cordero Week One: Define Marketing Paper Marketing Defined In today’s business world marketing is a tool used to promote and excel the sales of a product. Marketing has advanced to extreme levels in the past decade because of all of the new advancements in technology. Marketing is used to make consumers aware of a product or service to promote business and keep up with competitors. Marketing surrounds us in our daily life even if we are unaware of it. It is on the T.V., the radio, in magazines, and newspapers, on the internet and billboards on the freeway. This paper is going to define marketing and explain the importance of marketing in organizational success this paper will also provide three examples from the business world that support the definition. Marketing is a tool that when put into a plan becomes a successful way to promote a business, a marketing strategy plan is something that every business, large or small should put time and effort into. This time and effort that is put into a marketing strategy plan turns in financial success for the business when it is sought through properly. Examples of marketing can be something as simple as a business card or a bulk email sent out to 100’s of people advertising a sale. According to Entrepreneur Media (2012), "Every company needs "literature," printed pieces that do a careful and well-thought-out job of presenting its products and services:...
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...CLASSIS AIRLINES AND MARKETING Classic Airlines and Marketing Classic Airlines is the fifth largest airline in the world with annual earnings of $10 million. After being in business for 25 years, they have amassed more than 375 jets with 2,300 flights daily (University of Phoenix, 2010). Even with this success, there are concerns for their financial stability. The challenges facing Classic Airlines are common among airline companies. These challenges include stock instability, low employee morale, pubic uncertainty about flying; declining rewards program membership, increasing costs for labor and fuel along with a recent directive to reduce 15% over the next 18 months. This leads to major concerns by the management team. To reach stable ground, the management team will attempt to improve and increase the value of the rewards program, enticing previous members back while ensuring retention of current members. Rewards programs can be detrimental to the success of a business, according to Furinto, Pawitra and Baliah “Programs that are perceived favorably by consumers will in turn create stronger attitudinal loyalty and higher consumer profitability” (p. 307, 2009). The Small Business Administration suggests that “marketing activities and strategies result in making products available that satisfy consumers while making profits for the company” (para. 1, Market and Price). The goal of marketing is to use resources to increase the number of consumers while improving their...
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