The company is based in Cambridge, United Kingdom and employs around 25 staff. Business-to-business relationship plays a major role in the long run. During the periods of economic downturn also business relationships have proved to be extremely helpful to an organisation by minimising the amount of threats and uncertainties in the business. The objective of the paper is to analyse the marketing mix concept in terms of Triangle Creative Ltd (TCL) and to evaluate which marketing mix approach would be more effective in the business-to-business sector for TCL. Certain suggestions have also been mentioned in this paper with regards to the Triangle Creative Ltd in order to remain competitive in the advertising and marketing sector. 2.0 Marketing Mix 2.1 Marketing Mix Concept Marketing is a process performed by the organisations for delivering their products to the customers or clients and also to exchange the information which is profitable for the organisation and the customer as well. The marketing strategy or plan of an organisation depends on various factors. The most significant factors that play a major role in developing the marketing strategy of an organisation are product, price, place, promotion, people, process and physical evidence. These major factors are also widely referred as the seven Ps of marketing (Arnold IT, 1988; Borden, 1984). 2.2 Marketing Mix of TCL 2.2.1 Product TCL is an organisation operating in the marketing and advertising sector which generally renders services to the business houses. TCL produces the marketing as well as advertising materials such as radio and TV advertisement for these business houses. TCL has been regularly using the services of a single company called PJW Media Production and has quite a good relation with the company. Therefore, in terms of the services provided, it can be advised that TCL should introduce other modernised technologies to the customers for advertisement of their products apart from producing only TV and radio advertisement. 2.2.2 Price TCL has been noticed to practice a very rigid pricing system which depends on various factors such as timeframe, design, type of media and frequency. TCL usually charges a specific percentage of the total marketing budget of the customers. The company remains very strict and rigid in terms of the prices while dealing with the customers instead of practicing a flexible pricing policy. This kind of pricing system has been noticed to be preferred by the present customers but, the new customers are not likely to be attracted by such type of pricing policy. The new customers are likely to prefer a pricing policy which is flexible and so they can negotiate and also play a part in determining the prices. Apart from TCL there are many other small firms in the advertising sector which are quite flexible in terms of their pricing strategies as compared to that of TCL. Moreover, these small firms charge only flat fee for their services instead of charging at percentage commission rate as done by TCL. Therefore, it can be
Business-to-Business Marketing Table of Contents 1.0 Introduction 3 2.0 Marketing Mix 4 2.1 Marketing Mix Concept 4 2.2 Marketing Mix of TCL 4 2.2.1 Product 4 2.2.2 Price 5 2.2.3 Place 5 2.2.4 Promotion 6 2.2.5 People 6 2.2.6 Process 7 2.2.7 Physical Evidence 7 3.0 Relationship Variables and Business Networks 8 3.1 Importance of Business-to-Business Relationship and Network 8 3.2 Importance of Business-to-Business Relationships and Network for TCL 9 4.0 Structuring The Sales Force 12 4.1 Customer Based Sales Force 12 4.2 Geographical Based Sales Force 12 4.3 Product Based Sales Force 13 5.0 Conclusion 15 6.0 References 17 7.0 Bibliography 20 1.0 Introduction Business-to-business refers to a m…
This essay explores the supplier as the price makers in geographic market segmentation. A supplier is able to charge different prices for products and services in different regions and countries. Here the supplier refers to different types of middle man of any business i.e. they can be the producer or can be the wholesaler and may be the distributors and the preproduction supplier can also be.
line marketing, direct marketing, website developments and public relations. Their reputation has enabled them to attract clients mostly through word-of-mouth recommendation. Most of their clients are from the small and medium sized enterprises located in and around Cambridge.
The business report suggests a focus on online marketing services for client businesses, as well restructuring other marketing services such as advertising to be low cost and affordable to clients through adopting a more flexible pricing structure. In addition, the report suggests an improvement in word of mouth marketing of the business through leveraging it using social media, taking clients feedbacks and using these as testimonials on the company website as well as for newer inquiring customers, and through getting business clients to actively talk about TCL by organising marketing training sessions or conferences aimed at showing businesses how to meet their marketing needs in the curren
Business-to-business describes about the commerce transactions between two businesses. It can be occurred between a wholesaler and a manufacturer or between a retailer and a wholesaler. The other contrasting terms of B2B are B2C and B2G (Schneider, 2011, p.229).
These may include use of websites, brochures, and mailing (Armstrong & Kotler, pp. 23-29, 2008). The basic aim of using these marketing techniques is to achieve higher and higher sales, thus, making it all the more important for company’s success. This also emphasizes the importance of communication techniques, so much, so that the researches show that a good product can miserably fail if not advertized properly.
To diversify the means of ensuring that they can be able to provide the goods and services that are not within their reach so as to retain their customers, businesses had to device ways to meet their objectives and goals, thus business to business marketing emerged as a classic method to meet this.
Through demarcation and effective market segmentation, it becomes possible to effectively allocate the Company’s forces to specific market segments. According to Hutt and Speh (2000:7) a market segment may be
o the fact that various individuals and groups are engaging in similar business, providing similar products and services hence necessitating that a lot of effort is put towards retaining the existing customers as well as attracting new ones. This is necessary for business
The researcher states that implementation of either B2B or B2C mode of marketing will allow SPSL to constantly target multiple markets and will mitigate the potential of stringent business competition and various other economic and financial concerns. One of the biggest consequences of B2B is high marketing and advertising costs.
13 pages (3250 words)Essay
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