t climate, while still cost cut. In addition the sales team need be organised based on customers and products. 1.0 INTRODUCTION Over the past two years most small and medium businesses have been badly impacted by the recent economic downturn with TCL not having been spared from the impact. During this period most businesses are cutting costs in order to remain competitive in the business, this grossly affects TCL’s business as its revenue stream is mostly reliant on the marketing budgets that companies set. Over the past year, with reduced business, TCL recorded a drop in revenue by 25%, and the business is increasingly finding it hard to get new business and establish new clients. It is imperative that TCL make a change to its current business to business marketing. In view of this, this business report analyses and addresses various aspects of business to business marketing that TCL needs to address in order to be able to efficiently meet its objectives. In doing so, the report will focus on how TCL can restructure its marketing mix, how the business networks and relationships impacts TCL’s business, how it can rearrange its sales team for effective impact at low cost. 2.0 HOW TO RESTRUCTURE THE MARKETING MIX 2.1 Exploring the product portfolio to identify low cost effective marketing services to render to firms With the recession, most of TCL customers are cutting back on their marketing spending. As can be noted from TCL’s product portfolio, TCL gives precedence to offline business marketing using tools such as radio and television for their clients. The very nature of such advertising means being expensive implies that TCL is losing a lot of money in this area. Since TCL also offers other marketing services such as online marketing, it is important for the company to explore its product portfolio and see how it can restructure it well enough for the business that are focused on cost cutting. Trends in the recession show that more companies which are cutting costs are tending towards online marketing not only because it is cheaper, but because of the reasoning that most end consumers being thrifty during these periods also tend to go online in search of better and cheaper deals (Chlebisova, et al, 2011:1234-1236). Indeed Court (2009:71) note that key advertising tools that most companies use for advertising and marketing during recession are the use of the internet, mobile devices and the social networking which are far cheaper and much more effective in a recession stricken economy. Most companies prefer to use a combination of these with traditional media (Bulearca, & Bulearca, 2010). These changing trends in companies advertising and marketing implies that TCL needs to focus more on its online marketing services, providing more strategic low cost offerings and perfect mix
XYZ Consulting Limited Marketing Consultants Report On Improving Business To Business Marketing in TCL Business Course: Instructor: Submission date Report commissioned by: David Thorpe and Angela Brown, TCL From: John Smith, XYZ Consulting Ltd Number of Words: 2972 words REPORT SUMMARY This report analyses and provides recommendations on how TCL can restructure its marketing mix, how the business networks and relationships impacts TCL’s business, how it can rearrange its sales team for effective impact at low cost…
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.
ethod which is performed in between two businesses. Therefore, business-to-business marketing is a procedure between the different business houses such as the manufacturers, wholesalers and retailers. Triangle Creative Ltd is an advertising agency which was founded by David Thorpe and Angela Brown in the year 1998.
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.
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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