E Marketing and Customer Relationship Management – Two sides of the same coin
Whenever one talks of E marketing strategy or plan, they normally include online selling, online promotions and advertising. However this could be a very narrow view or definition as applied to E marketing. Planning for Customer Relationship Management is as important as paying attention to online selling efforts. Let us look at understanding some of […]
What are Retail Mannequins? – Driving Sales in the Retail Industry
Visual Merchandising plays an important role in increasing the sales of any retail store. The presentation and display of the merchandise play an important role in attracting the customers into the store and prompting them to buy the products. Mannequins in simpler words also called as dummies play an important role in visual merchandising. What […]
Advertising Myths – Ifs and Buts of the Advertising Industry
Advertising is considered as the best tool to make people aware of the product a company wants to sell. This is the best way to communicate with the audience and to inform them about the product but with a proper media selection and of course timing. But there are some myths which have been creating […]
Food Retailing: Indian Perspective
Food Retailing in India is witnessing a progressive change with the emergence of the hypermarkets/supermarkets and rapid expansion of organized retail sector in India across various parts of the country. With the world’s second-largest population and rising composition of Middle-Income group, India has emerged as the world’s most attractive retailing destinations especially in the Food […]
Multi Level Marketing (Network Marketing) – Meaning and Important Concepts
Some consider being Salesmanship to be an inborn trait as is Leadership. Some consider Salesmanship to be an Art. Then there are those who believe that anyone and everyone can be a Salesman with some training. Traditional concept of channel sales and retain sales as concepts are studied by every marketing and sales student. From […]
Business Marketing: Business Marketing refers to the sale of either products or services or both by one organization to other organizations that further resell the same or utilize to support their own system.
Consumer Marketing: on the other hand refers to the transaction of goods and services between organizations and potential customers.
The above definitions of business marketing and consumer marketing highlight the difference between the two commonly used terms in marketing (B2B and B2C).Business marketers do not entertain consumers who purchase products and services for their end-use. They deal only with other businesses/firms to sell their products.
In consumer markets, products are sold to consumers either for their own use or use by their family members.
Products in consumer market are further categorized into:
Fast moving consumer goods are items that are sold quickly to the end-users generally at nominal costs. Example - Aerated drinks, grocery items and so on.
Goods that a consumer uses for a considerable amount of time rather than consuming in one use are categorized under Consumer Durables.
Consumer Durables are further categorized into - White Goods and Brown Goods
Soft goods are products which have a shorter lifecycle and their value decreases after every use.Eg shirts, clothes, shoes.
Examples of Business Marketing (industrial marketing)
Office furniture (Cabinets, desks, workstations, drawers) - End user will not purchase workstations for his own use at home.
Bulk SMS service (utilized by organizations)
In business marketing, marketers deal with lesser number of individuals as compared to consumer marketing where one has to deal with the mass market. Generally a single employee of one organization would be appointed to deal with the concerned employee of the other organization (client). He does not have to interact with the entire organization.
Organization A sells laptops and desktops to Organization B (A case of B2B marketing).Tom from Organization A has to deal only with either the IT professional or the administration representative.
Organizations dealing with consumers need to interact with every individual who is a potential end-user.
Industrial marketing is more focused as compared to consumer marketing.
Business marketers generally deal with sophisticated employees whereas it is not at all necessary every end user in consumer market would respond to marketers politely. Business buyers generally are educated and well informed. In consumer market, your buyer can be anyone- educated, uneducated, labour and so on. Business marketers themselves need to be well spoken and polished. They must have a pleasing personality and good convincing power.
Business marketers need to be extremely careful about their mode of communication. Emails exchanged with clients should have appropriate subject line. Mails with irrelevant subject line are generally not read by clients. In business marketing, marketers ought to send personalized emails. Bulk SMSes or mass mailers do not work in business marketing. In consumer marketing, products can be promoted through advertising, pamphlets, brochures, hoardings or simply mass mailers.
There are less number of business buyers as compared to individuals who purchase for their own end use.
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