B2b Marketing

Ind Mkt(1-2) BUSINESS (B2B) MARKETING BASIC PRINCIPLES OF CONSUMER MARKETING ARE EQUALLY APPLICABLE TO BUSINESS MARKETING. 1. COMPANIES CAN OUTPERFORM COMPETITION IF THEY CAN MOVE FROM A PRODUCT AND SALES ORIENTATION TO A MARKETING PHILOSOPHY. 2. THE KEY IS TO DEVELOP A SUPERIOR VALUE PROPOSITION AND SUPERIOR VALUE DELIVERY SYSTEM. 3. TOTAL QUALITY IS THE KEY TO VALUE CREATION AND CUSTOMER SATISFACTION.

BUSINESS MARKETING IS THE BACKBONE OF THE HIGH STANDARD OF LIVING ENJOYED BY CONSUMERS IN THE DEVELOPED ECONOMIES. IN BUSINESS MARKETS, A FEW IMPORTANT FACTORS ARE

• MARKETS ARE RELATIVELY CONCENTRATED,

• CHANNELS OF DISTRIBUTION ARE SHORTER,

• BUYERS ARE WELL INFORMED, HIGHLY ORGANISE & SOPHISTICATED IN BUYING TECHNIQUES.

IN ORDER TO SUCCEED IN BUSINESS MARKETS, COMPANIES MUST DEFINE THEIR TARGET MARKETS, DETERMINE THE

NEEDS OF THOSE MARKETS, DESIGN PRODUCTS AND SERVICES TO FILL THOSE NEEDS AND DEVELOP PROGRAMS TO REACH AND SATISFY THOSE MARKETS.

B2B MARKETING CONSISTS OF ALL ACTIVITIES INVOLVED IN THE MARKETING OF PRODUCTS AND SERVICES TO ORGANISATIONS (COMMERCIAL ENTERPRISES, PROFIT AND NON PROFIT ORGANISATIONS, GOVT AGENCIES AND RESELLERS) THAT USE PRODUCTS AND SERVICES IN THE MANUFACTURE OF CONSUMER OR INDUSTRIAL GOODS & SERVICES AND TO FACILITATE THE OPERATION OF THEIR ENTERPRISES. THUS, B2B MARKETING IS THE HUMAN ACTIVITY DIRECTED TOWARDS SATISFYING WANTS AND NEEDS OF ORGANISATIONS THROUGH EXCHANGE PROCESS.

POINTS TO REMEMBER : 1. BUSINESS CUSTOMERS DIFFER FROM ULTIMATE CONSUMERS IN THEIR BUYING BEHAVIOUR, DECISION MAKING PROCESSES AND TASKS. 2. MARKETING EFFECTIVELY IN AN BUSINESS MARKET

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