Discuss whether the business-to-business (B2B) marketing requires a special, unique set of marketing concepts and principles or it is only the basic marketing concepts and principles that are applied in consumer marketing.
Business-to-business marketing as the name suggests is outlined as marketing/ selling of various in house products to several organizations and business homes to be used as raw materials in production of products or for the utilization of running general business operations like workplace management. Business-to-business (B2B) marketing needs a special and distinctive set of marketing ideas and principles because it has various variations once it’s compared to the essential marketing selling ideas.
Differences between B2B Marketing and Basic consumer marketing
The two types of marketing which are B2B Marketing and basic consumer marketing are very different concepts. The major differences are as follows:
1. B2B generally has has less customers than basic customer marketing For example: In USA, there are over 316,000,000+ general customers. However, there are only 7,705,000 B2B customers.Also almost 90% of the companies have less than 20-25 employees. H There square measure solely regarding seven,705,000 B2B customers and eighty six of business homes have fewer than twenty workers. Hence, the market for B2B Consumers is huge.
2. B2B Marketing is way more complicated than basic consumer marketing as it involves a number of steps with itself and strict guidelines which need to be followed. For example, It is always easier to negotiate on various things with a consumer that to with a business due to strict guidelines.