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Business-to-business (B2B) marketing - Coursework Example
This research will begin with the definition of business-to-business (B2B) marketing. Then the research will demonstrate several characteristics that differentiate business-to-business marketing from business-to-consumer marketing…
The paper tells that business-to-business (B2B) marketing describes dealings between businesses which take place in between a manufacturer and a wholesaler or amid a wholesaler and a dealer whereas in business-to-consumer (B2C) marketing transaction takes places between a company and a consumer. There are various characteristics that differentiate B2B marketing from B2C marketing:
In case of B2B firms, there are small and focused customer base whereas in case of B2C firms, they include huge number of customer base. But if compared in terms of monetary values, then investment from each of the customers of B2B firms are much higher than the customers of B2C firms. Along with this, high customer loyalty can be developed in case of B2C process but it is quite low in the case of B2B.
The buying process of B2B firms is much longer and includes many people whereas the buying process of B2C is much smaller and at times can be a single step process. In case of B2B marketing, customer loyalty is acquired by the word-of-mouth but in case of B2C marketing, it grows by mass adoption process.
The selling processes within B2B and B2C are vastly different. The B2B marketing process includes many efficient and highly trained individuals, distributors and business partners, in order to accomplish the tasks as well as to maintain a good relation with the customers, which can be beneficial in the long run. In B2C marketing process, the selling procedure is very small and highly skilled persons are not essential.