Business marketing

Welcome to my “Business marketing”.

Business marketing refers to the ways in which individuals or organizations, including businesses, governments, and agencies, promote the marketing of products and services to other companies or organizations. These other companies and organizations resell these products and services as part of their own products and services or use them to support their operations. Business marketing is also known as industrial marketing, business-to-business marketing, or simply B2B marketing. (Note: B2G marketing is different in meaning, though the dynamics of government marketing and organizational marketing are somewhat similar.)https://www.blogger.com

In the broadest sense, such a contractor and another trade as old as commerce. However, being in the field of marketing as we know it today is still the latest. In his presentation on "The Foundations of Business Marketing Research," J. David Lichtenthai, a marketing professor at Zicklin School of Business at the City University of New York, emphasized that industrial marketing existed since the mid-19th century, although a plethora of studies on business marketing until recently 25 years before it appears.

Morris, Pitt and Honeycutt 2001 pointed out that for many years corporate marketing was less important than consumer marketing. Consumer marketing refers to the sale of goods and service providers directly to households through mass media and retail outlets. This situation began to change in the mid-1970s and late. Various academic journals, such as the Journal of Corporate Marketing and the Journal of Business and Industrial Marketing, regularly publish research on the subject and annual academic conferences on corporate marketing are held regularly. In addition, courses in corporate marketing are also common at many universities today. In fact, Dwyer and Tanner (2006) point out that more marketing majors today start their careers in corporate marketing rather than consumer marketing.

Corporate Marketing and Consumer Marketing,

Despite the apparent distinction between corporate marketing and consumer marketing, there are more subtle differences and more important differences between the two. Dwyer and Tanner (2006) note that distribution channels for corporate marketing are generally shorter and more direct.

Consumer marketing targets large demographic groups, primarily through mass media and retailers, and the negotiation process between buyers and sellers in corporate marketing is more private. Hutt and Speh (2004) point out that most corporate marketers use only a small portion of the promotional budget for advertising, and often through direct mail and industry magazines. It usually helps corporate marketers successfully build sales visits, despite limited advertising.

The basic notion for business-to-business (B2B marketing) and private-for-private sales (B2C marketing) is similar. Whether B2C, B2B or B2G, marketers must always be:

Matching the strengths of the product service to the needs of a well-defined target market;

Positioning pricing for product services to meet market needs is often a delicate balance;

Spread and sell in a way that allows the target market to effectively demonstrate its value.

These are the four P (Marketing Mix) fundamentals first marketed by E. Jerome McCarthy in 1960.

The first category includes original equipment manufacturers, such as car makers that have bought scales in their cars, and corporate users who buy products for their own consumption. The second category, government departments, is the largest category. In fact, the U.S. government is the largest buyer of products and services in the country, spending 300 billion U.S. dollars each year. This category also includes state and local governments. The third category, institutions, including schools, hospitals and nursing homes, churches, charities. Finally, distributors include wholesalers, brokers, and industrial distributors.

So what is the major difference between business marketing and consumer marketing?

B2C sales for individuals. The decision of that person may be influenced by other factors (such as family members or friends), but the person who ends up in his pocket is the individual. B2B sales for the organization. This simple distinction involves a series of complex differences, all from the organizational structure of the sales and from the "corporate statistic group" (ie, the "demographics" used to classify the firm) in terms of size, location, industry, Group ") of the different and different.

Often, the marketing mix is influenced by B2B uniqueness, which includes the complexity of the enterprise's products and services, the diversity of needs, and the different characteristics of the sales itself, including the larger number of customers who purchase it. Because of these important subtleties of B2BA sales, there are more categories for the four Ps originally proposed by McCarthy.

B2B Marketing Strategy.

B2B brand management.

B2B brand management is very different from B2C, including the need to align the group brand, departmental brand, and product service brand and apply brand standards to what is often considered "unofficial" objects, such as e-mail and other forms of electronic communication.

Product (or service).

Because enterprise customers focus on creating shareholder value, it is important to include the benefits of product and service cost savings and revenue generation in product development and marketing.

Person (target market).

Often, the target market for enterprise products and services is smaller and demand is more specialized, reflecting their particular industry or market position. [3] In addition to the size of the target market, corporate clients do organizational buying decisions and its dynamics, both procedurally and how they judge the value of the items they buy, are very different from the consumer market. There may be many factors that influence purchasing decisions, even though they are not the purchasing decision makers, and they may also be the object of marketing.

Pricing.

If you know how to package pricing and payment terms, you will be able to convince the business market to pay higher prices more often than the consumer market. If you have a strong brand, getting high prices is especially easy.

Promotion.

If you know the customer base media and information gathering and decision-making habits, let alone that group-specific vocabulary, promotional programs are easy to do. There are usually specific exhibitions, analysts, publications, blogs, and retail outlets in every industry or product area. This means that once you find out about your business or product, the sales promotion is self-explanatory (depending on your budget). But finding something relevant for your particular area requires special skill and takes time to gain experience. Promotion skills are heavily dependent on marketing communications strategies.

Location (Sales and Distribution).

For the business market, it is often important to be familiar with product service, an experienced and effective direct sales team (internal or external). If you sell through distribution channels, the number and type of sales teams can be very different, and your success as a marketer depends very much on their success.

B2B Market Communication Method.

The purpose of the B2B marketplace is to support the organization's sales and increase the company's profits. B2B marketing tactics typically include interactive services such as advertising, public relations, direct mail, exhibitions, sales contracts, branding and web design, and search engine optimization. The Enterprise Marketing Association is an industry organization that serves B2B marketing professionals. Founded in 1922, it provides services such as certification programs, research services, conferences, industry awards and training programs.

Positioning with a word.

An important first step in business marketing is finding a sentence for positioning. This sentence should say what you do and how to distinguish between you and your competitors, where are you, where you are.

Determine the information to be spread.

The next step is to determine the message to be disseminated. It usually includes a master message that explicitly tells customers what you are doing and what benefits they can make and several ancillary information that includes supporting arguments, facts, and numbers.

Planning Event Plan.

No matter what your business marketing activities are, getting started is a comprehensive plan for generating the highest return on investment, ensuring that your infrastructure supports every step of the marketing process, not just the beginning, ensuring that the entire Organizations are well prepared to handle counseling properly.

Inform PR firm.

A standard notification document is a good idea. Not only does it allow PR agencies to focus on what matters to you and your activities, but also serves as a checklist of important events in your communications. Typical elements of the notification document include your target, target market, target audience, product, event introduction, product positioning, chart considerations, business guidance manuals and other supporting material, and product release.

Measurement Results.

The true value of measuring results lies in linking marketing activities to business interests. After all, you're not marketing for marketing. So you must always measure the outcome of your activities. If possible, measure your impact on what you want to achieve, such as the cost of winning each customer, every leading cost, or other customer perceptions.

How big is business marketing?

Hutt and Speh (2001) point out that "the market for marketers is the largest; the dollar value of the industrial or enterprise markets far exceeds that of the final consumer market." For example, they found that companies such as GE, DuPont, and IBM spent more than $ 600 billion each day on their operations.

Dwyer and Tanner (2006) argue that companies, government departments, and agencies account for at least half of economic activity in industrialized countries such as the United States, Canada, and France.

A 2003 study sponsored by the Business Marketing Association estimates that U.S. corporate marketers spend $ 85 billion annually on their products and services. The study classifies these expenses as follows (in billions of US dollars):

The fact that there is an enterprise marketing association illustrates the size and credibility of the industry. The predecessor of Enterprise Marketing Association was established in 1922, the National Association of Industrial Advertising. Today, the Chicago-based Business Marketing Association has more than 2,000 members in 19 clubs throughout the country. Its membership includes marketing communications companies that specialize in corporate marketing.

What prompted the development of enterprise marketing? [edit]

According to Morris, Pitt, and Honeycutt (2001), the rapid development and changes in corporate marketing experience are largely due to the three "revolutions" that take place in the world today.

The first is a technological revolution. Technology is evolving at an unprecedented rate and these changes drive the pace of new product and service development. Much of this is internet related and will be discussed in more detail below.

Technology and business strategy go hand in hand. Two are related. Technology supports organizational strategy, and corporate strategy also drives technological development. Both are crucial to business marketing.

The second is the business revolution. In order to remain competitive, many companies lay off and restructure. Today, resilience, agility, speed, ambition, and innovation are the keys to staying competitive. Marketing leads the business by discovering the market for existing products, undeveloped needs and new users, and new processes for creating sales, distribution and customer service.

The third is the revolution in marketing. Companies are no longer content with traditional thinking and are adopting new frameworks, theories, models, and concepts. They no longer focus solely on mass markets and transactions. Relationships, partners, and alliances determine today's market. The way the cake is out of date. Companies are tailoring their marketing plans to individual customers.

Impact of the Internet.

The Internet has become an important part of an enterprise marketer's CRM strategy. Dwyer and Tanner (2006) point out that marketers not only use the Internet to improve customer service but also use it to narrow their relationships with distributors.

According to Anderson and Narus (2004), two distributors emerged as a byproduct of the Internet: information brokers and giants. Information brokers, such as Google and Yahoo, refer to search engine companies that act as brokers or middlemen in the world of corporate marketing. They charge companies for information, banners, and pop-ups, and search engine optimization services. The Big Bang middleman has a powerful Internet site, offering customers a variety of products, multiple sellers and multiple services and commission on sales.

As business-to-business transactions have evolved, the Internet has brought an unprecedented enthusiasm for cooperation that, in fact, seemed ridiculous ten years ago. For example, who could think of Ford, General Motors, and DaimlerChrysler 10 years ago to set up a joint venture? This occurred in the late 90s when the Big Three started online sales. The three companies had all been politicians but found that their cooperation can produce economies of scale. This resulted in the largest Internet company in the world: the merger of Ford Motor Co. and General Motors Trading Network and the participation of DaimlerChrysler as the third partner.

The site did not stand the test of time but stood the test of time, such as Agentrics, which was formed in 2005 by the merger of WorldWide Retail Exchange and GlobalNetXchange (GNX). Agentrics serves 50 retailers and more than 300 customers worldwide, with a total membership of 1 trillion sales. Hutt and Speh (2001) argue that this virtual mall enables companies and suppliers to deliver in real time, simplifying the buying process and lowering costs.