Business to business means the relation between the two businesses
that is a business relation in which the end consumer is not involved.
It is more popularly know by its abbreviation B2B. Business to business
refers to the relation between more than one business institutes
specifically for the marketing. This is in contrast to the other known
marketing relations that exist between the business and the end
consumer. Prior to the evolving of the term B2B, these kinds of
relations between two enterprises are known as industrial goods
marketing or capital goods marketing. These terms distinguish it from
the business to consumer or B2C type of marketing.
How Does It Differ From B2C Marketing:
There
are several major differences between the B2B marketing and B2C
marketing. The involvement of so many people in the process of decision
making in the case of B2B marketing makes it very complicated. On the
contrary, in case of B2C, marketing only one person is responsible for
making the final choice and when some special package is offered,
involvement of only person facilitates quick buying decisions. Another
major difference between the B2B business marketing and B2C type of
marketing is that a business makes a buying decision when it needs the
thing. On the contrary, the buying decisions of the end consumers are
based more on wants.
Growing Competition:
However, there are
few similarities also between the B2B marketing and B2C marketing. For
both types of marketing, the competition is growing and the resources
are reducing. This growing competition is resulting in the loss of
market share for most of the small businesses. Along with this, the
margins of profit are also going down. This has created a great demand
for marketing data for the purpose of business-to-business marketing
data, small business marketing research and B2B marketing research.
Importance of B2B Marketing:
To
be successful in today's competitive world of business, having a very
good product, best available technology and competitive process is not
sufficient in itself. They have to focus on business-to-business
marketing strategy. This will help them in identifying, locating,
quantifying, segmenting and targeting the B2B customers that are really
significant for their businesses. Only by adopting this kind of B2B
marketing techniques, small business can achieve their set goals.
Eliminate Ineffective Marketing Channels:
marketing,
you must concentrate on performance of the different marketing
channels. These marketing channels may include a network of resellers,
service partners, retailers and distributors. You not only need to
develop new channels for marketing but also have to monitor and evaluate
their performance on a regular basis. Then you can eliminate the
marketing channels that are performing weak and focus on the channels
that are producing desirable results.
