What is B2B MARKETING?
Since its inception in 1990, B2B International’s source, it was a challenge the market researcher faced and to make others understand it is unique and having less risk and distinct from consumer marketing.
Anyone considers the value chain that starts with consumer demand and how many business products or services are required. Suppose we take the example of the simple shirts that we buy. They do not come to purchase the shops by accident. A value chain of intense complexity begins with cotton, or some other fiber becomes cloth, which is being stitched into a garment, packed, named, and distributed through various tiers until finally; we pick it from the retail shop.
- B2B Decision-Making Unit Markets is Complex
In most households, even the most complex decisions are surrounded by the small family unit, while products such as clothes, food, and cigarettes usually concern just one person. The decision-making unit (DMU) in business-to-business markets is highly complex, or at least it can be so.
This complexity and dynamism have implications for business-to-business markets. The target audiences for B2B communications are heterogeneous and continuously changing individuals with different interests and motivations.
- B2B Buyers are more “logical”
Business-to-business buyers’ descriptions as more ‘logical’ than their consumer counterparts are perhaps controversial, but we believe accurate.
- B2B Products Are Often More Complex:
As the decision-making unit is not simple complex in business-to-business markets, so too are B2B products themselves.
A broader B2B marketing campaign and interactivity with users, and the degree to which it draws potential clients via search engines.
- Very few Number Of Buying Units in B2B Markets:
Almost all business-to-business markets portray customer differences that complies with the Pareto Principle or 80:20 rule. A small number of customers dominate the market nor with thousands and millions of customers. Even in the largest business-to-business companies, it is not unusual to have 100 or fewer customers that make a difference to sales.
- B2B Markets have small in number Behavioral And Needs-Based Segments:
Our research of more than 2,000 business-to-business studies reflects that B2B markets typically have far more behavioral or needs-based distinction than consumer markets.
- Personal Relationships play a crucial role in B2B Markets:
A personal relationship is, however, necessary in business-to-business markets is the importance of the intimate relationship. Sales and technical representatives visit the customers and try to establish Personal relationships and trust. It is common practice that a business-to-business supplier has loyal and committed customers for many years.
- B2B Buyers Are Longer-Term Buyers:
While consumers buy items such as houses and cars, which are long-term purchases, these incidences are relatively rare. Long-term purchases – or at least purchases expected to over a long period – are prevalent in business-to-business markets.
- B2B Markets Drive Innovative Less Than Consumer Markets:
A look at demonstrates that consumer markets drive most innovation. B2B companies that innovate usually respond to repeat a design that has already happened further upstream. B2C businesses tend to be less risk-averse, as they have to predict and respond to consumers’ whims and irrational behavior rather than the more calculated decision-making of companies.
