Todays lecture shows the difference between marketing to businesses as opposed to mass marketing.
According to Fill and Fill (2005) the B2B market for goods and services bought and sold is far larger than the consumer market. The business market includes many different types and sizes of organizations that cooperate and create relationships of different importance and duration.
There are different types of business organizations such as:
Government organisations
Health
Environmental protection
Education
Policing
Transport
National defence and security
Institutional organisations
Not-for-profit
Community-based organisations
Commercial organisations
Distributors
Original equipment manufacturers
Users
Retailers
When marketing B2B a lot of factors can effect the transaction.
Before the transaction is complete many months of planning and proposals maybe necessary to achieve the sale.
The decision making is more complex than competing in the consumer market.
To achieve this it is necessary for personal relationships to develop within both sales and
technical representatives of both companies.
In B2B marketing it may be necessary to modify the product on offer to achieve a sale.
• Because there are fewer clients you cannot afford to lose any
• Because there is a lot of money and risk at stake you need to be able to build TRUST
• How can you do this?
• Advertising?
• Sales promotion?
• Face to Face?
FTPEPS varies from organization to organization.
F – Financial
T – Time
P – Performance
E – Ego
P – Physical
S – Social
All the above factors do not come in to play in every business transaction. As was mentioned earlier a close relationship needs to be established to ensure a successful sale. After sale follow up is most essential regarding product service, and warranty.
According to Fill and Fill (2005) the B2B market for goods and services bought and sold is far larger than the consumer market. The business market includes many different types and sizes of organizations that cooperate and create relationships of different importance and duration.
There are different types of business organizations such as:
Government organisations
Health
Environmental protection
Education
Policing
Transport
National defence and security
Institutional organisations
Not-for-profit
Community-based organisations
Commercial organisations
Distributors
Original equipment manufacturers
Users
Retailers
When marketing B2B a lot of factors can effect the transaction.
Before the transaction is complete many months of planning and proposals maybe necessary to achieve the sale.
The decision making is more complex than competing in the consumer market.
To achieve this it is necessary for personal relationships to develop within both sales and
technical representatives of both companies.In B2B marketing it may be necessary to modify the product on offer to achieve a sale.
• Because there are fewer clients you cannot afford to lose any
• Because there is a lot of money and risk at stake you need to be able to build TRUST
• How can you do this?
• Advertising?
• Sales promotion?
• Face to Face?
FTPEPS varies from organization to organization.
F – Financial
T – Time
P – Performance
E – Ego
P – Physical
S – Social
All the above factors do not come in to play in every business transaction. As was mentioned earlier a close relationship needs to be established to ensure a successful sale. After sale follow up is most essential regarding product service, and warranty.
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