Difference Between B2b And B2c Marketing
Essay Preview: Difference Between B2b And B2c Marketing
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The following table summarizes the differences between B2B marketing and B2C marketing. Your marketing plan needs to take into account the differences and ensure you are developing the right types of activities for your particular market.
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Relationship driven
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Maximize the value of the relationship
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Small, focused target market
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Multi-step buying process, longer sales cycle
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Brand identity created on personal relationship
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Educational and awareness building activities
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Rational buying decision based on business value
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Product driven
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Maximize the value of the transaction
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Large target market
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Single step buying process, shorter sales cycle
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Brand identity created through repetition and imagery
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Merchandising and point of purchase activities
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Emotional buying decision based on status, desire, or price
Businesses that Sell to Consumers
The ultimate goal of B2C marketing is to convert shoppers into buyers as aggressively and consistently as possible. B2C companies employ more merchandising activities like coupons, displays, store fronts (both real and Internet) and offers to entice the target market to buy. B2C marketing campaigns are concerned with the transaction, are shorter in duration and need to capture the customer’s interest immediately. These campaigns often offer special deals, discounts, or vouchers that can be used both online and in the store. For example, the goal of an email campaign for a B2C company is to get consumers to buy the product immediately. The email will take the consumer to a landing page on the web site that is designed to sell the product and make purchasing very easy by integrating the shopping cart and checkout page into the flow of the transaction. Any more than a couple of clicks and the customer is likely to abandon the shopping cart.
One interesting aspect of B2C marketing, however, is that many companies have realized the importance of loyalty. Amazon, Best Buy, and Staples combine merchandising and education to keep customers coming back. Add great customer service, and you get a winning combination.
Businesses that Sell to Businesses
Although the goal of B2B marketing is to convert prospects into customers, the process is longer and more involved. A B2B company needs to focus on relationship building and communication using marketing activities that generate leads that can be nurtured during the sales cycle. B2B companies use marketing to educate various players in the target audience because the decision to purchase is usually a multi-step process involving more than one person. For example, the goal of an email campaign for B2B is to drive prospects to the web to learn about your products and services. The e-mail to a business must contain contact information for offline communications and the landing page should contain information on features, benefits, and possibly pricing. This marketing activity is usually the first step in a longer, integrated touch campaign that may include direct mail, telemarketing, Web casts, newsletters and follow up by sales representatives who will discuss the businesses requirements in more detail and move the prospect through the sales cycle. Content is king for B2B marketing and white papers, newsletters, and coverage of your products and services by the media helps companies educate their prospects.
The B2B Buyer vs. the B2C Buyer
The business buyer is sophisticated,