Although on the surface the differences between business and consumer marketing may seem obvious, there are more subtle distinctions between the two with substantial ramifications. Studies have shown that business marketing generally entails shorter and more direct channels of distribution and communication.
While consumer marketing is aimed at large demographic groups through mass media and retailers, the negotiation process between the buyer and seller is more personal in business marketing. Most business marketers commit only a small part of their promotional budgets to advertising, and that is usually through direct mail efforts and trade journals. While that advertising is limited, it often helps the business marketer set up successful sales calls.
Marketing to a business trying to make a profit (Business-to-Business marketing) as opposed to an individual for personal use (Business-to-Consumer, or B2C marketing) is similar in terms of the fundamental principals of marketing. In B2C, B2B and B2G marketing situations, the marketer must always:
• Successfully match the product/service strengths with the needs of a definable target market
• Position and price to align the product/service with its market, often an intricate balance
• Communicate and sell it in the fashion that demonstrates its value effectively to the target market
Would changing (think re-targeting) advertising or promotions help increase sales by better serving your customer’s needs? Can you serve your consumers and business better by keeping a unique sales staff for each? Do volume discounts apply equally or does a business always buy at a better price point? If that is true, why is it true?
Does the end use of the product or the end user of the product change your price points? Does the purchase of your product or service change if bought by an institution or a government agency affect your selling price? Do you ever price items by “we’ve always done it that way” methods? Do you ever change price structure as the result of a lost sale? Do you try to re-capture that customers business?
Do your customers appreciate rewards for purchases or would they like an overall lower price and no rewards?
If you need help getting your sales messages out using printed material or promotional items please give MI Printing a call at 623.582.1302 and see how we can help all of your business communications.