Qualities of a Good Response – What a response must provide ?
An organization should understand that response is the key towards creating quality relationship with customers and nurturing the future business depending upon the customer’s perception and senses determined from the response. Response creates a channel of interaction that can enhance business relationship which will be mutually beneficial. This is only possible when the responses from […]
Unethical Marketing Practices by Hotel Booking Websites
During the dot com boom, online travel agencies had taken the entire world by storm! Travel websites which offered customers the convenience of being able to compare and book hotels from the comfort of their home became bug business. Companies like Travelocity and Expedia have business interests all across the world. However, about twenty years […]
Brand Name – Definition, Features and Considerations behind naming a Brand
Brand name is one of the brand elements which helps the customers to identify and differentiate one product from another. It should be chosen very carefully as it captures the key theme of a product in an efficient and economical manner. It can easily be noticed and its meaning can be stored and triggered in […]
What is Brand Loyalty and How to Develop It
Brand Loyalty is a scenario where the consumer fears purchasing and consuming product from another brand which he does not trust. It is measured through methods like word of mouth publicity, repetitive buying, price sensitivity, commitment, brand trust, customer satisfaction, etc. Brand loyalty is the extent to which a consumer constantly buys the same brand […]
Relationship Marketing in Practice
There is a realisation and understanding that Customer Retention is beneficial and rewarding than the efforts required in finding a new customer. Marketing managers can be successful only when they know how to build an interactive ongoing interaction with their customers. The scenarios of being in tune with the customer varies from business to business. […]
Organization A sells office files, notepads, and all sorts of office stationery to organization B, C and D.
Organization A does not deal with Peter — an end-user who would like to buy two pencils for his son Tom.
Business to business marketing refers to the transaction of goods and services between businesses.
Marketing mix helps to determine the unique selling points (USPs) of a brand.
Marketing mix goes a long way in determining how an organization’s products and services are different from the competitors.
Marketing mix is synonymous with four Ps
Business marketing is not everyone’s cup of tea. One needs to understand that there is absolutely no room for emotions in business buying. Keep yourself in the client’s shoes. He has all the rights of being choosy and selective; after all he would be investing in your organization.
Offer something of value to your client.
If you want to purchase a laptop for one of your family members, would you simply go and pick up any brand available in the market? The answer is NO. Infact nobody does that. Similarly business buyers also invest in something which would yield higher profits.
The products must have right features and should stand out. Never under estimate your client. Your client will definitely find out what your competitors are offering.
Your product must look good and function as per the requirements of the buyer.
Organization Z sells bulk SMS service to Organization X (An educational institute) which further uses the service to send text messages to existing students and also to potential admissions.
Organization X has a database of around 50,000 students (including existing and new students) where as the bulk SMS service by Organization Z can send text messages to only 10,000 students and not more than that.
Do you think Organization X would invest in Organization Z’S Services? Obviously NO.
Every organization must take into consideration the following two points:
Business buyers generally pay more prices than individual consumers as they purchase in bulk. Business marketers must know how to structure their pricing, provided their brand is strong.
Promotion refers to methods of communication, a business marketer uses to promote his brand among his clients.
Remember your brand must stand apart from the rest. You really need to interact with your clients well. Promoting one’s brand successfully increases the sales and eventually earns profits for the organization.
Brands can be promoted through business meetings, web meetings, e-mails, circulating newsletters, brochures, pamphlets and so on.
Organize trade shows and invite all your potential and existing clients on a common platform. Give a nice demonstration of your products and services. Interact with your clients as much as you can. Don’t let them go with a single doubt in their mind. Do not forget to collect their business cards. You will definitely need their contact details later for follow ups.
It always pays to provide the products and services at the right place which is convenient and easily accessible for the client.
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Business to Business (B2B) Exchanges – Virtual Market on Internet
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Business to Business (B2B) Internet Marketing Strategies
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