Business to Business or B2B marketing is the selling of services and products to businesses in order to support the operations of companies. Companies use these services to increase marketing, sales, profits and efficiency. With B2B, one should know the requirements, the present situation, competitors, trends, technology and costs involved. Besides traditional offline approaches, B2B uses an integration of online tools such as email marketing, online communities, CPC (cost-per-click ads) and pop-up or banner advertisings.
1. What are the five distinct concepts associated with B2B?
As in any type of marketing, B2B includes the exchange concept of marketing, the turn of production concept, the product concept, the phenomenon of marketing myopia and the sales concept.
2. What are a few business to business marketing features?
In B2B marketing, transactions are made between and within value chains. It has a small numbers of customers who require personalized marketing, including customized products and prices. Selling processes are complex and lengthy, and involve lots of players creating a demand decision chain. B2B is also noted for developing profitable, value-oriented relationships between two companies and several individuals within them.
3. What is a B2B marketing strategy?
It is a set of programs coupled with the target market opportunities in order to achieve organizational goals. Shaping this strategy involves three steps - target market choice, setting marketing objectives and building the B2B marketing program.
4. What are some similarities and differences between B2B and B2C?
B2B and B2C marketing are totally different. B2C or Business to Consumer marketing discloses, sells or markets services or goods to a group or target consumer. It is product driven and maximizes the value of the transaction. Repetition and imagery create its brand identity.
But the marketing programs are same for these two categories. Examples are events, direct marketing, internet marketing, advertising, public relations, word of mouth and alliances. The two categories differ in behaviors such as how the programs are executed, what they say and the product of the marketing activities. Both B2B and B2C have the same initial step in developing a marketing strategy.
5. What is a B2B buyer?
A B2B buyer understands your services or products better than you do. He wants to buy them to help his business remain profitable, competitive and successful.