Professional Documents
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What is Important
Closer to Corporate In touch with reality Shot at Formal Education
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YOUR UNDERSTANDING
Business Marketing is the practice of individuals, or organizations, including commercial businesses, governments and institutions, facilitating the sale of their products or services to other companies or organizations that in turn resell them, use them as components in products or services they offer, or use them to support their operations``
B2B Marketing
Vision Setting( who does it) Fewer Purchasers Multiple Decision Making Interfaces Individuals are tech-commercially competent Evaluator may or may not represent personal need Credit and blame can be shared Lesser sales Point of Contacts Long term engagement and gestation
B2C Marketing
Marketing Push Individual Customers and stakeholders Reflects individual requirements and needs Peer consulting and influence Greater perceived risk Long arm distribution Customers to point of sales
In Brief
Perspective Business Markets Consumer Markets Large no. of buyers Individual customer Limited stakeholders Support Technically and commercially aware individuals Knowledge levels are high Influence/Risk More widespread Look to their peers Participation in market place Fewer purchasers Buying decision more than one person is involved in buying decisions
Product Characteristic
Technical Complex
Customized
Standardized
Service Characteristic
Somewhat Important
Buying Behavior
Technical Expertise
Stable Interpersonal relationship
Web
Information management sophistication has increased Performance information is more readily available leading to new ways of B2B management decisions
Brands displaying high quality positioning themselves as affordable in bulk deals B2B companies need to worry about apples being compared to oranges(Huawei and Ericsson)
Breakeven and profits can only happen with repeat purchases Loyalty has overtaken churn(brand shifters)
Local companies coming up as dark horses Trade blocs being formed in group of countries
Glocal Competition
QUAD D: MARKET NEED EXISTED, PRODUCT DESIRED TO MEET IT BUT LACKS SOMETHING CRITICAL TO MEET THE REQUIREMENT AS PERCEIVED BY THE MARKET
M ar ke t K n o wl e dg e
Quad A
Quad B
Quad C
Quad D
M ar ke t K n o wl e dg e
Quad A
Quad B
Quad C
Quad D
(Sony Tablets)
M ar ke t K n o wl e dg e
Google in China
Chinese Telecom Products in India Product Management
Market Research and Training Mhealth, BP Lubes, Lens Kart, Titan Eye
Product Profile
Marketing Characteristics
Mass Advertising.
Industry Normally focused on technical media. Not normally TV. Often very suitable due to small numbers Often very suitable for company specialists
Direct Mail Face to face selling by specialists Hospitality Editorial. Publicity. Discounting. Specialist exhibitions and or trade shows. Point of sale displays and communications.
Consumer Often suitable and used including TV, Radio and mass circulation print advertising. Sometimes not viable due to high numbers & low value. Rarely suitable for individual items to end users.
Very suitable because of often high Not often used business value per decision maker Very suitable in targeted print Sometimes suitable. media. Suitable Suitable Often to reward volume customers. Discount sales are often used for sales promotion. Often used for high value Mainly suitable for items selling items(Build Con) to retail buyers(Times Utsav) Not often used Extensive use.
Industry
Consumer
Wholesalers
Seldom, unless relationship Regular is there with B2B company Form part of direct sales Often used. Form part of distribution chains. Sometimes used.
Becoming more prevalent to Becoming more prevalent at cut out intermediaries retailers, less so for manufacturers because of their narrow ranges. No direct evidence Used often by specific organizations
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Multi-level marketing