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  • Essay / Difference between B2B and B2C marketing - 1008

    The following table summarizes the differences between B2B marketing and B2C marketing. Your marketing plan should take into account the differences and ensure that you are developing the right types of business for your particular market. B2B• Relationship driven• Maximize relationship value• Small focused target market• Multi-step buying process, longer sales cycle• Brand identity created on personal relationship• Educational and awareness activities• Decision making Rational purchasing based on B2C business value • Product focused • Maximize transaction value • Large target market • Single-step buying process, shorter sales cycle • Brand identity created through repetition and imagery • Merchandising and point-of-purchase activities • Emotional purchasing decision based on status, desire or price Businesses that sell to consumers The ultimate goal of B2C marketing is to convert buyers into buyers as aggressively and consistent as possible. B2C companies are making greater use of merchandising activities such as coupons, displays, storefronts (real-world and internet), and offers to entice the target market to purchase. B2C marketing campaigns concern the transaction, are shorter in duration and must immediately capture the customer's interest. These campaigns often offer special offers, discounts or vouchers that can be used both online and in-store. For example, the goal of an email campaign for a B2C business is to get consumers to purchase the product immediately. The email will direct the consumer to a website landing page designed to sell the product and make the purchase very easy by integrating the shopping cart and checkout page into the transaction flow. After a few clicks, the customer is likely to abandon their basket. An interesting aspect of B2C marketing, however, is that many businesses have realized the importance of loyalty. Amazon, Best Buy and Staples combine merchandising and education to build customer loyalty. Add great customer service and you have a winning combination. Companies that sell to businesses Although the goal of B2B marketing is to convert prospects into customers, the process is longer and more complex. A B2B business should 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 different stakeholders in the target audience because the purchasing decision is usually a multi-step process involving multiple people. For example, the goal of a B2B email campaign is to drive prospects to the web to learn more about your products and services..